Venture Capital Deals – Slync and Convoy
Slync has raised a collection B investment from Goldman Sachs Growth. In a separate deal, Convoy has raised $400 million at a valuation of $2. seventy five billion. The article discusses the capabilities of Slync that set it apart from competitors. Read on to find out more. Also, keep up with the latest news in the world of venture capital.
Slync raises collection B investment from Goldman Sachs Growth
Slync, a logistics and shipping company, has raised more than $60 million in a Series B investment led by Goldman Sachs Growth. The company plans to use the investment to expand its services to other parts of the world, and will add new employees. It is also expanding its physical presence in Europe and Asia.
Despite its growth, Slync is still experiencing problems in the payroll department, which Forbes has investigated. The magazine obtained documents and spoke with 13 current and former employees to gain a better understanding of the company’s problems. It also obtained court filings, video files and interviews with executives. In total, Slync has received about $200 million in funding from Goldman Sachs, Blumberg Capital, and other investors.
The company also secured a Payment Protection Program loan. This type of loan is designed for businesses that struggle to meet payroll. Slync says it will use the $391,667 to cover the payroll for its 20 employees.
Convoy raises $400 million at $2. seventy five billion valuation
Convoy is a Seattle-based digital freight brokerage that connects truckers with shippers. It aims to build a profitable business while scaling in a highly competitive market. Convoy’s $400 million Series D funding round was led by Generation Investment Management and T. Rowe Price Associates, with participation from Baillie Gifford, CapitalG, and Durable Capital Partners. The company claims that its digital platform has the potential to cut the number of miles that trucks are traveling without cargo.
The company is raising the money to scale its business model and expand its technology. It’s also adding new features to its platform, including automated reloads, which helps truckers book multiple loads at once. Another feature is the Convoy Go service, which allows truckers to hook up to a trailer that is pre-filled with cargo.
Slync’s capabilities set it apart from competitors
Goldman Sachs Growth has made a strategic investment in Slync, a logistics company that provides process automation for global supply chains. Its goal is to boost productivity and cut operating costs. The company’s end-to-end service offering, Logistics Orchestration, incorporates enterprise systems and manual tools to provide real-time visibility and insight into supply chain performance.
A recent $60 million series N funding round has given the company the resources to continue serving existing clients, expand its presence in Asia and Europe, and grow its core team. However, it is unclear how many layoffs the company has had to make in the last few months.
Slync has taken advantage of this growth by implementing a platform that integrates disparate shipping and logistics systems, orchestrates teams, and automates different processes. This enables it to streamline processes and deliver tailored interfaces to workers across supply chain networks. In addition, it supports role-based workflows and collaboration tools.