Convoy Key Statistics and Financial Performance

Convoy's business model is built around connecting shippers with truckers, allowing them to find and book freight loads more efficiently.

The company has reported significant revenue growth, with $1.1 billion in revenue in 2020, up from $143 million in 2018.

Convoy's platform has helped reduce empty miles, which are miles driven by trucks without a trailer or load.

In 2020, Convoy's network of truckers drove over 1.5 billion miles, with an average load utilization rate of 95%.

Convoy has raised a total funding of $828M over 8 rounds.

Its first funding round was on October 26, 2015.

Convoy's latest funding round was a Venture Debt round on March 2022 for $100M.

This funding round was participated by a single investor, Harmony Venture Partners, along with Hercules Capital, T. Rowe Price, and Fidelity Investments.

Convoy has 38 institutional investors, including notable names like T. Rowe Price and Y Combinator.

Bill Gates and 17 other individuals are also Angel Investors in Convoy.

Discover more: Round 2 (company)

Convoy's leadership team is comprised of experienced individuals with a strong background in the industry. Dan Lewis serves as the Co-Founder & CEO of Convoy, and is also an angel investor in 7 startups, with one email address available for contact.

Dan Lewis's experience as CEO is likely a key factor in Convoy's success. Grant Goodale, a former Co-Founder of Convoy, is also an angel investor in 1 startup, with one email address available for contact.

Convoy's leadership team is well-connected and experienced, with a strong foundation in the industry.

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Convoy Inc is based in Seattle, Washington. This geographic location has likely played a significant role in shaping the company's culture and approach to innovation.

Seattle is known for its thriving tech industry, which has contributed to the growth and success of companies like Convoy Inc.

The founders and board of Convoy are a talented group of individuals who have played a crucial role in shaping the company into what it is today.

Dan Lewis is the Co-Founder & CEO of Convoy, and he's also an angel investor in 7 startups. He's a key figure in Convoy's leadership.

Grant Goodale is a former Co-Founder of Convoy, and he's also an angel investor in 1 startup. His experience and expertise have been invaluable to the company.

Here's a brief overview of the founders and board of Convoy:

Their contact information is publicly available, with each of them having just one email address.

Having a strong team is crucial for any organization's success. Research shows that top employees can make up to 20% of a company's workforce, yet they produce 80% of the results.

Effective leaders know how to identify and nurture these top performers. They understand that top employees are often driven by a sense of purpose and meaning, not just a paycheck.

A good leader will empower their top employees to take ownership of their work and make decisions that impact the team. This can lead to increased productivity and job satisfaction.

Studies have shown that top employees are more likely to stay with a company that values their contributions and provides opportunities for growth.

Convoy Inc's annual revenue was $252.1 million in 2025.

The company's huge expenses were producing major monthly losses, with some months reaching as high as $10 million.

Convoy began cutting staff and closed its Atlanta offices in early 2023, but investors were reluctant to bail the company out.

By last August, Convoy was reported to be considering "strategic options that could include a sale."

Convoy Inc's annual revenue was $252.1 million in 2025.

The company's financial performance is a key indicator of its success. Convoy Inc has shown steady growth in its revenue over the years.

In 2025, Convoy Inc reported a significant increase in its annual revenue, reaching $252.1 million. This is a notable achievement for the company.

Convoy Inc's revenue growth is a testament to its innovative approach to the logistics industry. The company's focus on technology and customer satisfaction has paid off.

The $252.1 million revenue figure is a substantial increase from previous years, demonstrating the company's ability to adapt and innovate in a rapidly changing market.

Consider reading: Growth Company

Convoy was burning through $10 million a month in losses by early 2023.

The company's huge expenses were producing major monthly losses despite efforts to drive down per-load costs.

As big companies moved fewer loads and shipping rates fell, Convoy's revenues dropped significantly.

Convoy began cutting staff and closed its Atlanta offices in early 2023, but it was too little, too late to stop the losses.

The company's investors were reluctant to bail Convoy out, which made the situation even more dire.

By last August, Convoy was considering "strategic options that could include a sale" due to its financial struggles.

Convoy Inc has a range of NAICS codes, including 541, 48, 488, 54151, 5415, 541513, 48899, and 4889, as well as 54.

The NAICS codes indicate that Convoy Inc operates in various sectors, such as professional, scientific, and technical services.

Convoy Inc also has SIC codes, specifically 737 and 73, which provide additional classification information about the company's activities.

Convoy Inc has a complex NAICS code, which is [541, 48, 488, 54151, 5415, 541513, 48899, 4889, 54].

The NAICS code for Convoy Inc includes several specific codes, such as 541513, which indicates a freight transportation arrangement service.

Convoy Inc's NAICS code also includes 48899, which is a broader category for support activities for air transportation.

The NAICS code for Convoy Inc is not limited to just one code, but rather a combination of several related codes.

Convoy Inc's NAICS code includes 5415, which is a category for customs brokerage services.

Convoy Inc's NAICS code also includes 4889, which is a category for support activities for transportation.

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The SIC code is a crucial piece of information for businesses. The SIC code for Convoy Inc is 737, 73.

Convoy Inc's SIC codes can be found online, making it easy to access this information.

Consider reading: Information International, Inc.

Convoy's competitors and alternatives are a force to be reckoned with. They offer a range of services that can help you manage your freight and logistics needs.

uShip is currently ranked as the top competitor, with a total funding of $54.4M and a Tracxn score of 72/100. It's a global online logistics transport marketplace that connects shippers with carriers.

Uber Freight comes in second, with a massive total funding of $2.78B and a Tracxn score of 71/100. It's an online marketplace for trucking services that aims to make freight booking easier and more efficient.

Convoy, the company we're focusing on, ranks third with a total funding of $828M and a Tracxn score of 68/100. It's a digital freight network platform that connects shippers with carriers.

Here are the top 10 competitors and alternatives in the industry:

These competitors and alternatives offer a range of services that can help you manage your freight and logistics needs.

Convoy is a digital freight marketplace that connects shippers with carriers.

The company was founded in 2015 by Dan Lewis.

Convoy's platform allows shippers to create digital freight bids, which are then matched with carriers who have the capacity to fulfill the shipment.

For your interest: Digital Insight

Convoy's platform also provides real-time tracking and updates on the status of shipments.

Convoy's services are available across the United States, with a presence in over 50 states.

Convoy has partnered with major shippers such as Amazon and Procter & Gamble to provide its services.

Convoy's platform has been designed to increase efficiency and reduce costs for both shippers and carriers.

Additional reading: Harman Connected Services