A robust, proactive, and responsive security system is essential to reduce cargo theft risks effectively. Leading the charge in these solutions is remote live video monitoring. Learn more here.
In the latest episode of "The Freight Caviar Podcast", we sit down with Danny Frisco, CEO & Co-Founder at Rapido Solutions Group. He discusses the advantages and disadvantages of outsourcing and Rapido's future growth plans.
Plus, an EV maker partners with Ryder to test a hybrid diesel system, HappyRobot releases an AI update for brokers, and load board traffic declines over the past 3 months.
Transfix, a digital freight marketplace, is seeking to raise a $50 million Series F at a $376 million valuation, a stark 60% decrease from its $940 million valuation from its previous funding round in March 2020. The drop is said to be a result of market forces, with the company reportedly securing $30 million of the target sum from New Enterprise Associates (NEA) and G-Squared, while still seeking the remaining $20 million from additional investors.
Attempted Recovery
Transfix's push for private financing comes after the company decided not to go public in a special purpose acquisition company (SPAC) combination with G-Squared. The hope was to achieve a $1.1 billion valuation through the public offering. However, despite the downturn, Transfix remains hopeful of closing the funding round in September. The company's leadership also saw a change in March, with CEO Lily Shen stepping down and co-founder and CTO Jonathan Salama taking over.
91% of phishing attempts take place via email. As a freight broker, that puts your operations at a significant risk. But with Epay Manager you can systemically block fraudsters from ever entering your back-office systems.
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