One might say that, in the case of Chattanooga-headquartered FreightWaves, “It just keeps on coming.”
The leading provider of freight data and analytics has raised $37 million in two rounds of minority investment since April, the company announced Friday in this news release (FreightWaves Announcement). The latest round was led by Kayne Partners Fund, the growth private equity group of Kayne Anderson Capital Advisors L.P., which committed $30 million to accelerate FreightWaves’ growth.
This round puts the total capital raised by FreightWaves at $75 million. A little more than two years ago, the then less than one-year old start-up won the Chattanooga stop on Steve Case’s “Rise of the Rest Road Tour” and a $100,000 investment. The rapidly growing company noted that it grew top-line revenues in the first half of 2020 by more than 50 percent compared to the same period last year in spite of the COVID-19 pandemic.