STARTUP FLOCK FREIGHT RAISES $113M FOR TRUCKING SOFTWARE
Solana Beach firm helps fleets pool multiple shipments together
Flock Freight, a Solana Beach startup whose software helps truck f leet operators deliver products on time and damage-free, has raised $113.5 million in a new round of financing, led by SoftBank Vision Fund 2.
The funding round announced Tuesday is the largest so far this year for a San Diego-based technology startup that’s not in the life sciences sector. Biotech startups occasionally pull in very large sums from investors for drug development.
Still, Flock Freight’s round eclipses the $92 million raised in September by Seismic, which provides sales and marketing software.
The latest funding brings the total raised by Flock Freight over the last five years to $184 million. The company declined to reveal its valuation.
Flock Freight employs nearly 130 workers globally, with more than 100 employees based in San Diego County.
Founded by Chief Executive Oren Zaslansky as AuptiX and later renamed, Flock Freight’s algorithms help combine small amounts of shipped products — known as less-than-a-truckload in the industry — into a shared full truckload, like a carpool for freight.
According to the company, its algorithm pinpoints less than full truckload shipments that are headed in the same direction. It then finds the fastest routes based
end,” said Brian D’Agostino, SDG&E’s director of fire science and climate adaptation.
The high winds are not limited to the San Diego area, spanning across Southern California. The weather service also issued a high wind watch that could see gusts of up to 60 mph in backcountry areas with localized winds up to 80 mph in wind-prone coastal mountain slope and foothills locations.
D’Agostino said the 60
mph gusts could occur in the eastern side of Valley Center, Ramona and Julian. Other affected areas include Descanso, Campo and Mount Laguna. “Areas like Encinitas could see some gusty winds as well,” he said.
A particularly hot summer in the San Diego area has led to dry conditions, and low humidity in recent days also adds to the risk of wildfire.
SDG&E said it will post hourly updates on its NewsCenter at sdgenews.com as needed.