In an industry up against rising costs, inefficient capacity and margin erosion, Flock Freight just made it clear it’s not pivoting, it’s persevering. With a $60 million Series E raise led by O’Neil Strategic Capital and joined by Susquehanna Private Equity Investments, SignalFire, GLP Capital Partners, Bracket Capital and other, unnamed investors, the company has committed to its shared truckload technology.
“We’re not here to talk about launching a new TMS or some new product. We’re really thrilled and thankful to be who we are. We will continue to keep growing our business and building shared truckload technology that works really well,” founder and CEO Oren Zaslansky told FreightWaves.
Flock Freight is focused on a future where fewer trucks move more freight more efficiently. Zaslansky has long fought against the absurdity of what he calls “shipping air.” According to a company study, roughly 58% of truckload shipments moved as partials in 2024, leaving an average of 34 linear feet of deck space underutilized.
The core offering, Shared Truckload (STL), allows shippers to pay only for the space they use, effectively pooling multiple shipments into one truckload without the traditional cross-docking of LTL. This focus can result in better service, lower costs and a tangible reduction in emissions, Zaslansky explained.
What makes Flock Freight’s model work is its pairing of deep freight knowledge with hard tech. Its AI-powered optimization engine evaluates more than 3 trillion freight combinations to form STL routes in real time. The pricing engine allows customers to receive instant shared truckload quotes online, without the delays that typically plague partial shipment bookings.
Enterprise shippers are taking note, including Academy Sports, which reported a 16% cost savings on underutilized loads since adopting Flock’s STL solution.
Zaslansky said the company is partnering more with managed transportation or procurement providers, which are increasingly recognizing Flock Freight’s unique capabilities. The company is positioning itself not as a competitor to procurement platforms, but as a specialized supplier that can solve a problem they cannot.
The Series E funding will fuel several key initiatives, including continued hiring of both top technologists and freight veterans, expanded integration capabilities for enterprise customers, deeper partnerships with managed transportation providers, and enhanced tools for carrier engagement.
“We’re focused on innovating new ways to just be frictionless,” said Zaslansky.
As part of the round, Dean Carlson, investor at Susquehanna International Group, will join the company’s board.
“Flock has demonstrated impressive growth, consistently achieving double-digit gross margins while delivering exceptional value to both shippers and carriers. Even amidst challenging freight market conditions in recent years, their innovative Shared Truckload model has proven unmatched in creating efficiencies that no other brokerage can replicate. We’re looking forward to supporting their continued momentum,” said Carlson in the release.
The funding comes at a time when others in the FreightTech sector are pivoting, consolidating or closing up shop. Flock, by contrast, is holding its course.
“We are not becoming a freight consolidator. The freight is never going to come off the truck. … It’s going to get loaded into the trailer, and it’s never going to come off until it gets to its final destination. The ability to do that, coupled with the optimization work we do, that’s a technological solution that we’ve had to invent in order to bring STL to the market.”
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