Arrive Logistics, Austin, Texas, closed a significant round of funding led by Lead Edge Capital, a New York-based growth stage investment fund focused on software, internet and technology-enabled services.
“Arrive was founded with just two angel investors and a founding team of 10,” says Matt Pyatt, co-founder and CEO of Arrive Logistics. “Since inception, we have been able to grow from those 10 to almost 500 dedicated employees without any outside investment, but we are ready to take on more capital to sustain our aggressive growth goals. We took this capital raise process slowly to ensure we partnered with a firm whose values aligned with ours, and we are confident that Lead Edge is the best partner for us. We look forward to having them by our side, as we continue marching toward our goal of being one of the fastest brokerages to $1 billion.”
Arrive Logistics puts proprietary technology, operational efficiency and personalized customer service relationships at the forefront. In the next year, Arrive Logistics plans to onboard more sales employees, grow its IT development staff, expand its corporate headquarters, move into additional markets and implement loyalty programs for core carriers and customers.
“Arrive Logistics is proving to be a major player in the freight trucking space, and we are looking forward to this partnership,” says Nimay Mehta, partner at Lead Edge Capital. “As a next-generation tech-enabled freight broker, Arrive continues to innovate to bring value to its shippers and carriers, while driving productivity gains for its employees. We hope to amplify and support this process with our investment in Arrive Logistics.”
“We are very excited to partner with Lead Edge,” says Eric Dunigan, president and co-founder of Arrive Logistics. “Lead Edge has demonstrated [its] ability to partner with growth stage businesses with strong management teams and a clear vision for execution. Arrive has some of the hardest working people around, and with Lead Edge by our side, we look forward to making their jobs easier by leveraging technology. This partnership will allow us to continue to deliver the best experience possible to our customers and carriers.”