Dan Lewis, CEO of Convoy, says business luminaries like Bill Gates and Jeff Bezos are investing in his company because they're betting on Convoy and its business model to emerge as a winner in a crowded marketplace.

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Convoy Rides New Technology, Star-Studded Investor Base to $410 Million in New Funding

Convoy says it's driving down a prosperous road collecting some new funding in the process. The digital freight network raising 410 million saying is on track to do more than a billion in sales this year, joining me now is dan Lewis ceo of convoy dan. Clearly a startup but already a very successful startup to say the least. And I know a lot of people are showing some interest in your own platform. Let's start by you telling me what specific solutions your company offers. Yeah. So convoy is the best way for shippers across the United States, like Procter and Gamble or the home depot to directly access hundreds of thousands of trucking companies that run on the convoy network. So it's really efficient capacity helps them get fair prices, great service on the trucking services that they need to keep their businesses running well. Some major backers in this round, Bill Gates, Jeff Bezos, Youtube frontman bono, I mean, this is incredible. Explain to me dan what exactly these business luminaries found attractive in your company. So much so to make a big investment. Yeah. Over the years we've been able to attract some really incredible investors. I think there's two things that have led them to convoy. One is many of the people you just mentioned and some of the other really big institutional investors, like a T Rowe price or Baillie Gifford are betting on huge industries and really long term transitions that are happening to digitize massive trillion dollar industries like trucking. They're used to betting big and they're used to going after big ideas and convoy is one of the biggest ideas in the world right now. So explain to me dan how your company is navigating some of the logistic challenges that certainly have arisen during this pandemic. I mean unfortunately um we do see global supply chain issues continue to be a problem. The chip shortage continues to impact many companies out there. How is your company weathering some of those roadblocks? The most important thing that convoy can do for our supply chain is ensuring that truck drivers have a great experience in their job. So they continue to want to be truck drivers and then building technology that makes the trucking network. The millions of trucks in this country operate as efficiently as possible. Getting around trips and back hauls for truck drivers? Really efficient appointment times, making sure they're paid quickly and easily so they want to continue driving in this industry and so that we can take advantage of all the capacity that exists. So we don't run into shortages of capacity. Okay well we mentioned at the start of this segment that you're already on track to do more than a billion dollars in sales this year. The richest people in the world are backing your company day and not just one or two of them but a whole handful of them which is pretty impressive. What about an I. P. O. Is that in the works? Do you think you'll take this company public soon. We don't have plans right now for an I. P. O. But I do think in the type of business that we're in and the types of customers that we're supporting and the types of deals that we're gonna be looking at in the future being a publicly traded company is in our future. Alright. One year, two years. What can you tell us dan give us a little bit more, a little bit more info here. I several years out. Okay. Several years out you'll be doing billions of dollars in sales by then. I have no doubt. I hope you come back on the show. That's dan Lewis ceo of convoy, a company that you might be able to invest in as a public investor here within the next few years.