Google Parent Alphabet Backs Trucking Technology Startup Convoy
Financing round includes T. Rowe, Lone Pine as valuation tops $1 billion
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Convoy Inc., a trucking technology developer backed by Bill Gates and Jeff Bezos, added another prominent backer through a funding round that values the startup at more than $1 billion.
Convoy said it raised $185 million in a Series C financing led by CapitalG, Alphabet Inc.’s growth equity fund. CapitalG partner David Lawee will join Convoy’s board. It’s the second time in a year that Google’s parent company has put money into one of Uber Technology Inc.’s rivals.