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- Emerge
Emerge Revenue, Valuation, Funding & Investors
Emerge is valued at $642M as of September 2021, a 3.2x multiple on its last reported $200M revenue.
Last Emerge valuation
$642M
Series B · Sep 2021
Last Emerge funding round
$130M
Series B · Sep 2021
Emerge revenue
$200M
Series B · Sep 2021
Key investors in Emerge
Greycroft
9Yards Capital
NewRoad Capital Partners
Latitude Ventures
Tiger Global
Interplay
About Emerge
Emerge is a Scottsdale-headquartered web-based platform for full truckload freight management, linking shippers with carriers via quote tools, real-time GPS tracking, in-app messaging, analytics dashboards, and automated repeat lane setups. Founded in 2017 by logistics veterans, it streamlines operations for users in Arizona, Texas, and California handling dry van, reefer, and flatbed loads.
Founded
2017
HQ
Website
Status
Privately held
Customer focus
B2B
Revenue model
Commission, Subscription
Revenue
$200M (Sep 2021)
Valuation
$642M (Sep 2021)
Emerge Valuation
Emerge is currently valued at $642M, based on its Series B in September 2021.
The $130M round was led by 9Yards Capital, The Spruce House Partnership and Tiger Global, with participation from NewRoad Capital Partners, Latitude Ventures, Greycroft and Interplay.
Emerge's valuation has grown 6.4x from $100M at its Series A in February 2020 to $642M in September 2021, across 2 priced rounds.
Emerge valuation by funding round
Revenue multiple| Date | Stage | Valuation | Revenue Multiple |
|---|---|---|---|
| Sep 2021 | Series B | $642M | 3.2x |
| Feb 2020 | Series A | $100M | 11.1x |
Emerge Revenue
Emerge's latest recorded revenue is $200M, as of its Series B in September 2021. At a $642M valuation, that implies a 3.2x revenue multiple.
Revenue grew from $9M in February 2020 to $200M in September 2021, while the revenue multiple moved from 11.1x to 3.2x.
Emerge revenue by funding round
| Date | Revenue * | Valuation | Revenue Multiple | Stage |
|---|---|---|---|---|
| Sep 2021 | $200M | $642M | 3.2x | Series B |
| Feb 2020 | $9M | $100M | 11.1x | Series A |
* Revenue (or ARR) figures are the values recorded alongside each funding round. Typically run-rate revenue at the time of the deal, or a reported LTM (last 12 months) revenue.
Emerge Funding History
Emerge has raised a total of $173M across 4 funding rounds.
Emerge's first fundraising round was a $3M seed round in June 2017. The most recent completed round was a $130M Series B in September 2021.
Emerge funding rounds
| Date | Stage | Investors | Raised | Valuation | Deal Summary |
|---|---|---|---|---|---|
| Sep 2021 | Series B | 9Yards Capital (lead); The Spruce House Partnership (lead); Tiger Global (lead); NewRoad Capital Partners; Latitude Ventures; Greycroft; Interplay | $130M | $642M | Emerge is a Scottsdale, Arizona-based digital freight marketplace that provides cloud-based procurement software and a Dynamic RFP (Request for Proposal) platform specifically designed for freight professionals. The platform connects shippers and carriers to facilitate freight procurement across contract and spot markets. On September 23, 2021, Emerge closed a $130 million Series B funding round led by 9Yards Capital, Tiger Global Management, and The Spruce House Partnership, with participation from existing investors New Road Capital Partners and Greycroft. This brought the company's total capital raised to more than $150 million. The Series B valuation was $641.96 million. Company officials stated in a FreightWaves interview that 2021 gross revenue would reach approximately $200 million, with the company expecting to process about $4 billion in freight volume through its system that year and targeting $15 billion in volume for the following year. The capital was allocated to scale the digital freight marketplace, triple R&D spending, and enhance product capabilities to improve market efficiencies and strengthen relationships between carriers and shippers. |
| Feb 2020 | Series A | NewRoad Capital Partners (lead); Latitude Ventures; Greycroft; 9Yards Capital | $20M | $100M | Emerge is a Phoenix-based digital freight marketplace founded in 2018 by brothers Andrew and Michael Leto, connecting shippers and brokers with truck carriers, particularly the long tail of available capacity. The platform enables efficient freight allocation, similar to Flexport for trucks, and had processed over $1 billion in freight with 1,500% year-over-year growth from 2018 to 2019 by early 2020. The founders previously sold their supply chain visibility platform 10-4 to Trimble for $400 million. In February 2020, Emerge closed a $20 million Series A round led by NewRoad Capital Partners, with participation from Greycroft and 9Yards Capital, bringing total funding to over $40 million at a valuation exceeding $100 million. Funds were earmarked for technology development and business expansion. NewRoad's Tracy Black joined the board, praising Emerge's innovative marketplace for contracts and carriers. Later rounds included a $130 million Series B in 2021 led by Tiger Global, Spruce House, and 9Yards, with NewRoad and Greycroft participating, pushing cumulative funding over $150 million and freight procured to $6 billion; 2020 revenue reported as $85 million in later coverage, with 2021 projections of $250-300 million. |
| Nov 2018 | Seed | Greycroft (lead) | $20M | - | Emerge, based in Scottsdale, Arizona, is a freight logistics startup founded in early 2018 by brothers Andrew Leto and Michael Leto, who previously built and sold GlobalTranz, a 3PL focused on freight brokerage and technology, to The Jordan Company for over $400 million. The company offers a proprietary Private Freight Marketplace (PFM) and Transportation Management System (TMS) designed to connect shippers with carriers and brokers, streamline freight booking, enhance visibility, increase productivity, and reduce costs for supply chain stakeholders. Emerge provides services like real-time tracking, quoting, tendering, carrier management, and data-driven analytics to improve operational efficiency for both shippers and fleets. On November 15, 2018, Emerge announced a $20 million seed funding round led by Greycroft Partners, with participation from other investors. Greycroft Principal Will Szczerbiak praised Emerge as a standout platform for creating an efficient freight booking experience, highlighting the founders' deep industry expertise and relationships. The executive team includes industry veterans such as Jack Holmes, retired CEO of UPS Freight, as vice chairman, and Grant Crawford, a former FedEx executive, as chief commercial officer. |
| Jun 2017 | Seed | Greycroft (lead) | $3M | - | Emerge is a digital freight marketplace connecting shippers and carriers, providing access to direct capacity, live market conditions, benchmarked rates, and trusted partners to optimize trucking procurement and maximize cost savings. Greycroft invested in Emerge in 2017 as part of its portfolio of software companies in the growth stage. |
Who has invested in Emerge?
7 investors have backed Emerge across its funding rounds, including Greycroft, 9Yards Capital, NewRoad Capital Partners, Latitude Ventures, Tiger Global and Interplay.
Lead investors include 9Yards Capital, The Spruce House Partnership, Tiger Global, NewRoad Capital Partners and Greycroft.
Emerge Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
| 4 | Lead | Jun 2017 | ||
| 2 | Lead | Feb 2020 | ||
| 2 | Participant | Feb 2020 | ||
| 2 | Lead | Feb 2020 | ||
| 1 | Participant | Sep 2021 | ||
This data is available for Pro users. Sign up to see all 7 Emerge investors. Start Free Trial | ||||
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Start Free TrialInvestments by Emerge
Emerge has invested in 1 company to date.
Latest investment by Emerge was on May 4th 2026. Emerge invested in Zyg in their $60M Series A round.
Latest Investments by Emerge
| Description | Zyg develops a software platform for entrepreneurs and DTC brands to launch and scale e-commerce products. The operating system merges data infrastructure, predictive analytics, and AI agents to gauge product demand, run digital marketing, and oversee customer acquisition and retention. Functions such as online store setup, brand production, ad execution, search optimization, and lifecycle marketing run in one environment. |
| HQ Country | |
| HQ City | Herzliya |
| Deal Date | 4 May 2026 |
| Round | Series A |
| Raised | $60M |
| Investors | Jibe Ventures; Assaf Rappaport; Felix Capital; Access Industries; Bessemer Venture Partners; O.G. Venture Partners; Disruptive AI Venture Capital; Lightspeed Venture Partners; Accel; Stardom Ventures; QP Ventures |
| Valuation | $500M |
| EV/Revenue | |
| EV/EBITDA | |
This data is available for Pro users. Sign up to see all Emerge investments and their VC round multiples. Start Free Trial | |
Emerge Competitors
Emerge competitors include listed companies like New Trend International Logis-Tech and TomTom, and private ones like ShipMonk, Gatik, Glydways and Mudflap.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
| Publicly listed | $352M | $42M | $661M | - | ||
| Private | $140M | - | $695M | 5.0x | ||
| Private | - | - | $700M | - | ||
| Private | - | - | $700M | - | ||
| Private | - | - | $700M | - | ||
| Publicly listed | $639M | $18M | $560M | 0.5x |
Emerge Public Comps
Emerge is still privately-owned, but its public comps include New Trend International Logis-Tech, Duolun Technology, TomTom, INIT SE, IVU Traffic Technologies, Guotai Epoint Sofware, e-Hualu, PowerFleet, Tecsys and JSTI.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $352M | $42M | 1.4x | - | 11.9x | - | |||
| $60M | $2M | 9.2x | - | 277.1x | - | |||
| $639M | $18M | 0.5x | 0.5x | 18.5x | 6.6x | |||
| $380M | $60M | 1.5x | 1.3x | 9.3x | 8.7x | |||
| $174M | $27M | 2.4x | 2.3x | 15.8x | 13.6x | |||
| $274M | $14M | 1.3x | 1.4x | 26.2x | 25.3x | |||
| $69M | ($310M) | 24.1x | - | (5.4x) | - | |||
| $444M | $76M | 1.5x | 1.5x | 8.8x | 6.5x | |||
This data is available for Pro users. Sign up to see all Emerge competitors and their valuation data. Start Free Trial | ||||||||
Common questions about Emerge
| When was Emerge founded? | Emerge was founded in 2017. |
| Where is Emerge headquartered? | Emerge is headquartered in Phoenix, AZ, United States. |
| Is Emerge publicly listed? | No, Emerge is a private, VC-backed company. |
| What is Emerge's valuation? | Emerge was last valued at $642M in its Series B in September 2021. |
| How much funding has Emerge raised? | Emerge has raised $173M across 4 funding rounds. |
| What was Emerge's last funding round? | Emerge's last funding round was a $130M Series B in September 2021, led by 9Yards Capital, The Spruce House Partnership and Tiger Global. |
| Who are Emerge's investors? | Emerge's investors include Greycroft, NewRoad Capital Partners, Latitude Ventures, 9Yards Capital, Interplay, The Spruce House Partnership and Tiger Global. |
| What is Emerge's revenue? | Emerge's latest recorded revenue is $200M (September 2021). |
| What is Emerge's revenue multiple? | Emerge's latest valuation implies a 3.2x revenue multiple ($642M valuation on $200M of revenue). |
| Which companies are comparable to Emerge? | Companies comparable to Emerge include New Trend International Logis-Tech, ShipMonk, Gatik, Glydways, Mudflap and TomTom. |
| How many companies has Emerge invested in? | Emerge has invested in 1 company, including Zyg. |
| What was Emerge's last investment? | In May 2026, Emerge invested in Zyg's $60M Series A alongside Jibe Ventures, Assaf Rappaport, Felix Capital and 8 other investors. |
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