NEW YORK (March 18, 2020) Transfix, the leading digital freight marketplace, today announced that current President and Chief Operating Officer Lily Shen will be promoted and become the company’s new Chief Executive Officer, effective immediately. 

Shen has been instrumental as Transfix has grown into a valuable partner for both shippers and carriers around the country. Shen takes over from Transfix co-founder Drew McElroy, who will continue to play a critical role in the growth of the company as Chairman of the Board of Directors. 

“We founded Transfix to improve life for the millions of people who work in logistics. Since those early days, we’ve built an amazing company and have attracted incredibly talented people at all levels,” said Drew McElroy, Co-founder and Chairman of the Board of Directors at Transfix. “Transfix is my first startup. I’ve always known that when things got moving fast enough, I’d want to hand the reins over to an outstanding executive, to maximize the velocity of value creation. Transfix is very lucky —  a company might spend months or even years looking for the right leader. In our case, we already had her on our team. As Lily moves into the CEO role, I am extremely excited about the future as there is no one I’d prefer to have in the driver’s seat.” 

Shen’s leadership has been instrumental as Transfix has grown steadily and sustainably in the hyper-competitive digital freight space. During her tenure as President and COO, Transfix hit multiple growth and product milestones, including a 5x increase in enterprise customers, building one of the best teams at the intersection of technology and freight. Transfix has attracted high-caliber senior talent from global organizations such as Intel, Amazon, Walmart, Google, Etsy, SoFi, XPO and Transplace. Since Shen joined the company, Transfix has tripled in revenue and nearly doubled in size while accelerating product development and machine-learning capabilities.

“I’ve been a believer in the Transfix mission since I first met Drew in 2015. It was immediately apparent to me that he had the right vision for the future of freight and shared a commitment to growing the company in a responsible way,” said Lily Shen, CEO of Transfix. “We’ve built a strong reputation with some of the world’s largest shippers, and with core carrier partners across the country. I am honored to be leading, and working alongside, the best team in logistics. We’re committed to innovation that improves life for both shippers and carriers, and driving the modernization of freight.”

Shen’s experience in guiding high-growth companies is second-to-none. She spent nearly 20 years in leadership roles at Silicon Valley’s most recognizable technology companies, including eBay, Wealthfront and IDEO. In her new role as CEO, Shen will also serve on the board of directors. 

About Transfix

Transfix is a leading digital freight platform connecting shippers to a national network of reliable carriers. We drive the future of logistics by using cutting edge technology to partner shippers with trusted carriers while reducing empty miles to help eliminate waste. We don’t just move freight–our expert team works hard to gather and analyze data with every load booked to elevate and optimize the supply chain from start to finish. Transfix was founded in 2013 and is based in the heart of New York City. 

Transfix accelerates into the fast lane with plans to go public via merger with G Squared Ascend I, Inc. (NYSE: GSQD).
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