- Technology-powered freight brokerage company Arrive Logistics has raised $25 million in Series B funding led by existing investor Lead Edge Capital
- Arrive is expecting its revenue to hit $600 million as its total loads shipped increased by 100% year-over-year
Arrive Logistics, a technology-powered freight brokerage company, announced it raised $25 million in Series B funding led by existing investor Lead Edge Capital. Arrive Logistics launched in 2014 and grew to more than 800 employees across offices in Chicago, Chattanooga, and Austin.
This year, Arrive is expecting revenue to hit $600 million as total loads shipped increased by 100% year-over-year. And Arrive also earned numerous accolades including 3 consecutive years as an Inc. Magazine Best Workplace. Since launching, Arrive Logistics more than doubled its revenue for four consecutive years.
“We have doubled revenue for four consecutive years with our relentless focus on building the best team and technology in the domestic truckload market,” said Arrive Logistics co-founder and CEO Matt Pyatt. “We have done this by utilizing data to hire the right people, investing heavily in their training and retention as well as focusing our technology investments on what makes our team the most efficient in the industry.”
The proceeds from this funding will be used for funding growth, accelerating investments in proprietary technology, and further building out the team. And Arrive’s core carrier partners — who cover approximately 90% of their freight — trust the company to keep them moving at the right price without unnecessary thrash. The advancements in the company’s proprietary technology will strengthen customer and carrier partnerships.
“Lead Edge Capital is thrilled to continue its partnership with Arrive Logistics,” added LEC General Partner and Arrive Logistics board member Nimay Mehta. “Since our first investment in Arrive Logistics last year, our conviction in the team and go-to-market strategy has only increased and we believe they are building something unique. Our confidence is supported by Arrive Logistics’ strong load growth performance as well as improved broker productivity and healthy gross margins. This additional investment will further accelerate Arrive Logistics’ path toward becoming a market-leading freight broker.”
