New investment provides leading software company for the supply chain and transportation sectors with significant additional resources to drive growth
NEW YORK & SAN FRANCISCO, December 14, 2021 – Transflo, a leading provider of mobile business intelligence and payments facilitation tools to the transportation sector, today announced a significant new equity investment. Together with True Wind Capital (“True Wind”), a San Francisco-based private equity firm focused on investing in leading technology companies, Transflo welcomes Bregal Sagemount (“Sagemount”), a global private equity firm that specializes in backing growing companies to the Board and investor base. Carousel Capital, Transflo’s first institutional investor, remains a significant minority investor. Financial terms of the transaction were not disclosed.
Headquartered in Tampa, Florida, Transflo’s cloud‐based technologies digitize nearly 800 million shipping documents each year with over $100 billion in freight spend flowing over the Transflo rails. Transflo is the only customizable, open, and secure digital ecosystem that offers complete visibility, all-in-one driver tools, document management, and two-way communications to increase efficiency across the logistics arena.
Philip Yates, a Founding Partner of Sagemount, said, “We are thrilled to partner with the management team and investor base at Transflo. We believe that Transflo is poised to expand its position as a leading cloud-based business intelligence and payments engine in the transportation sector. The company occupies valuable real estate at the point of load consummation that continues to enhance velocity, accuracy and compliance in the payments flows for carriers, brokers and shippers. We look forward to accelerating Transflo’s product innovation and pursuing strategic acquisitions with this new funding.”
Aaron Matto, Partner of True Wind, said, “As the transportation and supply chain sectors continue to evolve amid this dynamic environment, we are excited to welcome Sagemount as a significant investor in Transflo to accelerate the company’s strategic growth objectives. Since True Wind’s initial investment in 2017, Transflo has built on its leadership position in the industry by delivering real-time communications to thousands of fleets, brokers, and commercial vehicle drivers while driving increased efficiency, improved cash flow, and reduced costs for its clients. We look forward to partnering with Sagemount and Transflo’s leadership team to drive further value creation.”
“At Transflo, we strive to drive better business results for our clients through technology and innovation,” said Frank Adelman, Chief Executive Officer of Transflo. “We are thrilled to have the support of best-in-class technology investors such as Sagemount and True Wind as we continue building our integrated software platform that enables transportation and supply chain businesses to improve velocity in the workflow and speed of payment.”
Transflo has continued to make significant enhancements to its software product suite. Over the past several months, the company announced the release of the latest iteration of its driver-focused workflow app, Transflo Mobile+ 5.0, and introduced Transflo Intelligent Automation, a suite of document automation services that provide carriers, freight brokers, factoring providers, shippers and freight auditors powerful new tools to manage and process load related documents.
Harris Williams served as financial advisor to Transflo. Simpson Thacher & Bartlett served as legal advisor to True Wind Capital. K&L Gates acted as legal counsel to Carousel Capital. Goodwin Procter served as legal advisor to Bregal Sagemount.
Bregal Sagemount is a growth focused private capital firm with $4.0 billion of committed capital. The firm provides flexible capital and strategic assistance to market-leading companies in high-growth sectors across a wide variety of transaction situations. Bregal Sagemount invests $40 million to $200 million per transaction into targeted sectors including software, digital infrastructure, healthcare IT / services, business and consumer services, and financial technology / specialty finance. For more information, please visit www.sagemount.com.
True Wind Capital is a San Francisco-based private equity firm focused on investing in leading technology companies. True Wind has a broad investing mandate, with deep industry expertise across software, data analytics, tech-enabled services, internet, financial technology, and hardware. Founded in 2015, True Wind has completed 10 platform investments and 20 add-on acquisitions. For more information, please visit www.truewindcapital.com.
Transflo®, a Pegasus TransTech company, is a leading provider of mobile, business intelligence and payments facilitation software to the transportation industry. The company’s cloud‐based technologies digitize nearly 800 million shipping documents each year with over $100 billion in freight spend flowing over the Transflo rails. Organizations throughout the Transflo client and partner network use the solution suite and digital platforms to increase efficiency, improve cash flow, and reduce costs. Headquartered in Tampa, Florida, USA, Transflo is setting the pace for innovation in transportation software. For more information, visit www.transflo.com.
For Bregal Sagemount:
For True Wind Capital:
Jonathan Gasthalter/Nathaniel Garnick
Gasthalter & Co.
No compensation was provided to the portfolio company executives for their feedback although they may have an incentive to make a positive statement due to the executive’s ongoing relationship with the firm.