# Convoy: Technology acquired by Flexport

Convoy, Inc. (original Seattle digital freight company) · United States · Logistics technology

Evidence reviewed Oct 26, 2026. Historical event record.

Convoy announced a $3.8bn private valuation with its April 2022 equity round. In November 2023, Flexport acquired its technology stack and said it would retain a small engineering and product group. Flexport explicitly excluded the company and its liabilities from the acquisition.

## Historical private valuation

$3.8bn · Apr 21, 2022

Company-announced private valuation accompanying Series E preferred-equity financing; pre/post-money not specified in the release.

[Convoy via Business Wire / Nasdaq](https://www.nasdaq.com/press-release/convoy-raises-%24260-million-to-accelerate-digital-freight-transformation-2022-04-21)

## Documented event

Technology acquired by Flexport · Nov 1, 2023

No transaction price shown. Acquisition of technology stack and retention of a small core product/engineering group, expressly excluding the company and its liabilities.

[Flexport](https://www.flexport.com/blog/update-on-flexports-trucking-business/)

## What changed

Flexport acquired technology and retained a small product and engineering group, rather than acquiring Convoy or assuming its liabilities. The platform later changed hands again: Flexport announced its sale to DAT Freight & Analytics in July 2025. The platform history and the original corporate entity are distinct.

## Timeline

### Apr 21, 2022 — Private funding valuation disclosed

Company-announced private valuation accompanying Series E preferred-equity financing; pre/post-money not specified in the release.

[Convoy via Business Wire / Nasdaq](https://www.nasdaq.com/press-release/convoy-raises-%24260-million-to-accelerate-digital-freight-transformation-2022-04-21)

### Nov 1, 2023 — Technology acquired by Flexport

Acquisition of technology stack and retention of a small core product/engineering group, expressly excluding the company and its liabilities.

[Flexport](https://www.flexport.com/blog/update-on-flexports-trucking-business/)

### Jul 28, 2025 — Flexport announced sale of the Convoy Platform to DAT Freight & Analytics

A successor technology platform is distinct from the original corporate entity.

[Flexport](https://www.flexport.com/blog/update-on-flexports-trucking-business/)

## Disclosed investors

Historical funding participation; not current ownership or investor losses.

- Baillie Gifford — [Convoy via Business Wire / Nasdaq](https://www.nasdaq.com/press-release/convoy-raises-%24260-million-to-accelerate-digital-freight-transformation-2022-04-21)

- T. Rowe Price Associates-advised funds and accounts — [Convoy via Business Wire / Nasdaq](https://www.nasdaq.com/press-release/convoy-raises-%24260-million-to-accelerate-digital-freight-transformation-2022-04-21)

## Sources

- [Convoy Raises $260 Million to Accelerate Digital Freight Transformation](https://www.nasdaq.com/press-release/convoy-raises-%24260-million-to-accelerate-digital-freight-transformation-2022-04-21) — Convoy via Business Wire / Nasdaq; published Apr 21, 2022; accessed Oct 26, 2026; primary source.

- [Update on Flexport’s Trucking Business](https://www.flexport.com/blog/update-on-flexports-trucking-business/) — Flexport; published Nov 1, 2023; accessed Oct 26, 2026; primary source.

[Methodology](https://altss.com/unicorn-tracker/methodology) · [All cases](https://altss.com/unicorn-tracker)