Last week, Convoy announced it had raised $ 62 million from the investment firm Cascade Investment of billionaire Bill Gates and other investors. Before that, the figure competing for the richest position in the world from Bill Gates is Amazon CEO Jeff Bezos has also invested in Convoy since 2015.
Since its founding in 2015, Convoy has raised a total of $ 80 million. In addition to Bill Gates and Jeff Bezos, other well-known tech entrepreneurs like Salesforce CEO Marc Benioff and eBay founder Pierre Omidyar have also poured capital into Convoy.
Convoy CEO Dan Lewis said that Convoy processes thousands of orders a week, generates millions of dollars in revenue, and doubles the revenue every quarter. However, Lewis declined to give specifics. Convoy’s client list now includes big companies like Unilever and Anheuser-Busch.
Uber started competing with Convoy by launching a similar service called Uber Freight two months ago. The latest investments in Convoy, however, show that investors are eager to expect the company to expand in the face of increasing competition.
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