Funding round
Flock Freight Series C
Flock Freight, which works in freight shipping brokerage services in Encinitas, raised $114M in a Series C round announced on 1 Dec 2020, led by SoftBank Vision Fund and Softbank, at a $500M post-money valuation. 6 firms took part. It is Flock Freight's fourth venture round on record; the one before was a Series B in Feb 2020.
$114M
Amount raised
$500M
Post-money valuation
$387M pre-money
6
Investors
2 leads
23%
Stake sold
new money over the post-money
Valuation
What this round says about the price
This round priced Flock Freight at $500M after the new money. The $114M bought investors about 23% of the company. It came 10 months after Flock Freight's Series B. It is 25% of the $459M Flock Freight has raised in the venture rounds on record. Flock Freight raised again 10 months later: a Series D round of $215M in Oct 2021, at $1.00B post-money.
Flock Freight's funding rounds
Flock Freight has 6 venture rounds on record. This one is highlighted.
- Seed 24 Jun 2016, led by SignalFire $2.5M
- Series A 1 Oct 2017, led by GV $18M
- Series B 25 Feb 2020, led by SignalFire and GLP Capital Partners $50M
- Series C this round 1 Dec 2020, led by SoftBank Vision Fund and Softbank $114M$500M post-money
- Series D 20 Oct 2021, led by SoftBank Vision Fund $215M$1.00B post-money
- Series E 14 May 2025, led by O'Neil Strategic Capital $60M
Investors
Who put money in
SoftBank Vision Fund and Softbank led the round with 4 other firms.
Lead investors
- SoftBank Vision Fund backs 234 venture-backed companies new investor
- Softbank
Also in the round
- backs 121 venture-backed companies new investor
- GLP Capital Partners new investor
- GV backs 428 venture-backed companies new investor
- Volvo Group Venture Capital new investor
Joined the board: Ervin Tu (SoftBank Investment Advisers).
Use of proceeds
What the money is for
According to the announcement, the money goes to hiring, product development, scaling operations and working capital.
- Hiring
- Product development
- Scaling operations
- Working capital
Comparable rounds
How it compares
The closest in time, other companies' Series C rounds in Trucking and Logistics:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Trucking and Logistics | 20 Nov 2020 | $90M | not disclosed | BlackRock and Chromo Invest |
| Trucking and Logistics | 26 Jan 2021 | $38M | not disclosed | Titanium Ventures and HarbourVest |
| Trucking and Logistics | 24 May 2021 | $13M | not disclosed | Korea Development Bank |
Sources
Where this comes from
Reported by 4 sources. The deal data marks this round as not yet confirmed by an official announcement. Unconfirmed
Questions
Frequently asked
How much did Flock Freight raise in its Series C round?
Flock Freight raised $114M in its Series C round, announced in Dec 2020.
Who led Flock Freight's Series C round?
SoftBank Vision Fund and Softbank led it, with SignalFire, GLP Capital Partners, GV and Volvo Group Venture Capital.
What was Flock Freight's valuation at the Series C round?
$500M post-money ($387M pre-money).
Did Flock Freight raise again after this round?
Yes: a Series D round in Oct 2021 of $215M at $1.00B post-money.