Baillie Gifford, T. Rowe Price and Hercules Capital led a $260m funding in Convoy.

Baillie Gifford, T. Rowe Price and Hercules Capital led a $260m funding in Convoy, a trucking software company, with participation from Park West, Generation Investment Management, Fidelity, Durable Capital Partners, Capital G, Lone Pine Capital, Greylock Partners, Y Combinator, Bill Gates, Jeff Bezos, Marc Benioff, Hadi Partovi and Ali Partovi. “When we first invested in 2019, the trucking industry was ripe for disruption and we were impressed with Convoy’s vision and early success in driving the future of freight. Since then, Convoy has built a world-class management team, including seasoned executives who’ve successfully led digital transformations in other industries and further enhanced its technology platform. They’ve been able to strengthen their relationships with shippers, expand their network of truckers, and deliver strong business growth. We’re delighted to lead this round and look forward to supporting the Convoy team as they grow and scale the business in the years ahead to further transform the US trucking industry,” Gary Robinson, Baillie Gifford Investment Manager.