FreightWaves, the leading media and data provider for the $9.6T global freight market, raises $37 million in two rounds of funding. Kayne Partners, a $29B private equity fund, has led one of the rounds, providing $30 million in capital for growth opportunities.
FreightWaves, the leading provider of freight data and analytics, has raised $37 million in two rounds of minority investment since April. The latest round was led by Kayne Partners Fund, the growth private equity group of Kayne Anderson Capital Advisors, L.P. Kayne Partners Fund has committed $30 million to accelerate FreightWaves’ growth. This round puts the total capital raised by FreightWaves at $75 million.
“Freight Waves continues to create high-tech jobs and prove the business case for choosing Chattanooga,” said Christy Gillenwater, President & CEO, Chattanooga Chamber of Commerce. “Craig Fuller (FreightWaves Founder and CEO) likes to call Chattanooga ‘the Silicon Valley of freight’ and this tremendous capital investment in the media sector of freight and logistics is proof positive that we are the best location for future investment. We offer our congratulations to Craig and his team and we appreciate their commitment to Chattanooga and Hamilton County.”
Kayne Partners Fund’s investment is a minority, non-control investment that will support strategic and sustainable growth in the company. Existing management, led by FreightWaves Founder and CEO Craig Fuller, President George Abernathy and CFO Spencer Piland will continue to lead the company through the next stage of growth.