New breed logistics company has raised $7.3m in funding
Posted On July 16, 2021
New breed and logistics company crowley has raised a record $7 billion in venture capital funding, valuing the firm at $30 billion, and plans to grow to a global scale.
The funding round is led by Sequoia Capital, led by Reid Hoffman, co-founder of the software company Salesforce.
The company is a division of crowley, a logistics company that was spun off from the company formerly known as JetBlue Airways.
crowley’s valuation of $30bn marks a huge jump from a previous valuation of around $13 billion.
The investment was led by former Sequoias co-founders Andreessen Horowitz and Andreessen and co-founded Chris Dixon.
The new round comes as the company prepares to introduce new, lower-cost and more convenient products for airlines and cruise lines, including new airfare and ticketing services.
crowleys CEO David Jones said in a statement that the $7bn investment was “a big step forward for crowley”, adding that “the next couple of years will be a challenging time for us”.
crowleys co-Founders Chris Dixon and Andream Hoffman said in their announcement that they will continue to work on improving and enhancing crowleys products and services, including crowleys services for airline and cruise line operations.
“The acquisition of crowleys, as part of our expansion into new areas of aviation and cruise, is the next step in a long-term strategy for crowleys,” Mr Hoffman said.
Mr Dixon added that crowleys “will continue to be an important part of the transportation industry”.
crowley was founded in 2010, and is headquartered in San Diego, California.
It is headquartered out of San Francisco, California, and has operations in Asia and Europe.
crowlers services are provided through a network of suppliers, including airlines, cruise lines and other companies.
crowler.com crowleys website crowleys blog crowleys news crowleys product crowleys email crowleys contact roger crowley crowleys twitter [email protected]