Uber Freight

2020: Uber Freight attracted $500 million investments

On October 2, 2020 Uber Freight announced attraction of $500 million. The investment round was headed by Greenbriar company, assessment of Uber service for the order of cargo transportation reached $3.3 billion.

Uber Freight uses technology of Uber for communication of consignors (the companies dispatching cargoes) with carriers (transport companies and their drivers). Clients of Uber Freight are thousands of consignors, including several companies from the list of Fortune 500, such as AB InBev, Nestle, LG and others. According to statements of the company, its network contains about 65 thousand carriers.

Service attracted $0.5 billion to the order of cargo transportation of Uber Freight and was evaluated in $3.3 billion

Though Uber headquarters in is in San Francisco, Uber Freight is based in Chicago. In 2019 the company announced the conclusion of the 10-year lease agreement of old main post office of Chicago for use as the headquarters. It is known also that within the next three years the company is going to employ 2 thousand people in Chicago. The company did not specify whether plans for employment somehow can change because of COVID-19 pandemic, however mentioned that its operator network could help to fill regiments with essential goods during crisis.

For the last year Uber Freight provided to users access to two new features: Freight Enterprise and Freight Link. These software solutions help consignors to control the transportations.

It is supposed that the raised funds will allow Uber Freight to expand the presence in the market and to invest in the innovation products. The amount of investment means demonstrates serious intentions of Uber on development of delivery and logistics.

We very much are proud of what we reached for several short years. Our technology allowed to take the leading position in the industry, we transform low technologies and analogs to guarantee, as consignors, and carriers are ready to success in quickly changing industry", - the head of Uber Freight Lior Ron said.

We will continue to use the dominant market technologies of Uber, a global scope and cross-platform opportunities to accelerate our growth and to continue to conduct the industry forward.[1]

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