Orrick has advised Convoy, the first nationwide digital freight network, on its $400 million Series D financing round. Generation Investment Management and funds and accounts advised by T. Rowe Price Associates, co-led the round, which gives Convoy a $2.75 billion post-money valuation. In addition, Baillie Gifford, Fidelity Management and Research, Durable Capital Partners, CapitalG and Lone Pine Capital participated in the round.
This brings Seattle-based Convoy’s total capital raised to more than $668 million from investors including Greylock Partners, Y Combinator, Cascade Investment (the private investment vehicle of William H. Gates III), Salesforce.com CEO Marc Benioff, Code.org founders Hadi and Ali Partovi, U2’s Bono and The Edge, and Jeff Bezos via Bezos Expeditions, among others.
Orrick has advised Convoy since its inception in 2015 and has counseled the company on multiple financing rounds, as well as on corporate and employment matters. The Orrick team on the financing included Laura Bloxham, Sara Chehrehsa, Harry Clark, Diana Gillis, Anik Guha and Sheila Maguire.