<p>Logistics technology firm Flock Freight on Tuesday said it raised $113.5 million in a funding round led by SoftBank Vision Fund 2, making it the fund's third transportation and logistics technology investment since its launch last year.</p>.<p>Flock Freight's technology uses an algorithm to help freight carriers fill up trucks with goods from different companies, ordered for direct delivery.</p>.<p>In that way, carriers can avoid logistic hubs where often goods are sorted and reloaded for delivery – a process prone to delays and damage, said Oren Zaslansky, chief executive officer and founder of Flock Freight.</p>.<p>Zaslansky said the new funds raised would be used to hire experts in operations research and applied mathematics. He said Flock Freight is able to charge at least 10% more than traditional carriers as its service cuts delays and damage.</p>.<p>The company, which has raised $184 million raised to date, declined to disclose its overall valuation. Zaslansky said revenue quadrupled this year but did not give an absolute figure.</p>.<p>In addition to SoftBank, existing investors SignalFire, GLP Capital Partners, Google Ventures and strategic partner Volvo Group Venture Capital invested as well.</p>
<p>Logistics technology firm Flock Freight on Tuesday said it raised $113.5 million in a funding round led by SoftBank Vision Fund 2, making it the fund's third transportation and logistics technology investment since its launch last year.</p>.<p>Flock Freight's technology uses an algorithm to help freight carriers fill up trucks with goods from different companies, ordered for direct delivery.</p>.<p>In that way, carriers can avoid logistic hubs where often goods are sorted and reloaded for delivery – a process prone to delays and damage, said Oren Zaslansky, chief executive officer and founder of Flock Freight.</p>.<p>Zaslansky said the new funds raised would be used to hire experts in operations research and applied mathematics. He said Flock Freight is able to charge at least 10% more than traditional carriers as its service cuts delays and damage.</p>.<p>The company, which has raised $184 million raised to date, declined to disclose its overall valuation. Zaslansky said revenue quadrupled this year but did not give an absolute figure.</p>.<p>In addition to SoftBank, existing investors SignalFire, GLP Capital Partners, Google Ventures and strategic partner Volvo Group Venture Capital invested as well.</p>
