Convoy was founded in 2015 by Grant Goodale and Dan Lewis. The company has not officially endorsed a plan to participate in an IPO.
Convoy owns and operates a digital freight network which uses machine learning and automation to connect shippers and carriers to move millions of truckloads, saving money for shippers, increasing earnings for carriers, and eliminating carbon waste. The company has raised nearly $670 million in Venture Capital funding from investors including Baillie Gifford, Durable Capital Partners, Fidelity, G Squared, NEO Ventures, CapitalG, Sound Ventures, TriplePoint Venture Growth, Mosaic Ventures, FUEL Capital, Greylock Partners, and Red Sea Ventures. Per company press releases, Convoy last raised $400 million in November 2019 at a post-money valuation of $2.75 billion.