Convoy rival Uber Freight raises $500M, valuing trucking logistics business at $3.3B

(Uber Freight Photo)

Uber Freight, the trucking logistics arm of Uber, today announced a $500 million investment led by Greenbriar that values the unit at $3.3 billion.

Uber Freight helps match carriers with shipper’s loads, using technology to expedite and automate a traditionally manual process that involves email and phone calls. Since launching in 2017, it has nearly 65,000 carriers in its network and works with shippers including AB Inbev, Nestle, LG, Niagara Bottling, Heineken, Land O’Lakes, and more.

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“Uber Freight has created an innovative and effective approach to logistics technology that we believe is highly scalable in the coming years,” Michael Weiss, managing partner of Greenbriar, said in a statement. “In particular, we believe that carriers and shippers will be increasingly attracted to the convenience and simplicity that Uber Freight offers in a

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Minneapolis-based health insurance company raises another $500M, bringing total to $1.5B

Minneapolis-based Bright Health has raised $500 million in another round of venture capital fundraising that will help expand its geographic reach and add additional services, it said on Tuesday.

The consumer-focused health care and technology company picked up new investors in the latest round and has now raised more than $1.5 billion from venture capital firms since 2016.

The insurer had 60,000 customers at the end of September 2019. It said in January that it would grow to at least 200,000 members this year.

New York-based investment firms Tiger Global Management, Blackstone and Baltimore, Md-based T. Rowe Price are new participants in Bright Health’s latest fundraising. Prior investors NEA, Bessemer Venture Partners and Greenspring Associates also participated in the latest round.

“NEA has backed Bright Health from the very beginning, and we are privileged to continue helping the team transform how health care is delivered and paid for in this

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