Highway is a leading technology platform for Carrier Identity solutions in logistics. The company recently received a growth investment led by FTV Capital, with additional support from Lead Edge Capital.
This investment will help Highway strengthen its position as the industry leader in compliance and fraud protection for freight brokers. It will also support the development of its products and marketing strategies, enabling Highway to reach more customers and grow more quickly.
The U.S. freight industry is becoming more complex due to rising shipping volumes and a growing reliance on asset-light carriers. Freight brokers play a crucial role in ensuring the secure and efficient movement of freight, currently managing approximately 30 percent of truckload spending. However, these brokers face increasing risks from fraud, which makes it essential to have modern solutions for reducing risks and improving operations.
Founded in 2022, Highway created the Carrier Identity platform to enable freight brokers to verify carriers, prevent fraud, and establish trusted networks. By using real-time data, automated tools for compliance, and advanced fraud detection, Highway simplifies the carrier vetting process.
This helps brokers work more confidently and efficiently. Highway serves over 1,050 brokers, including 70 of the top 100 in the U.S. With its growing network of brokers, carriers, and insurance partners, Highway provides a secure and scalable foundation for modern freight operations.
New board members: As part of the transaction, Jerome Hershey and Nimay Mehta, managing partner at Lead Edge Capital, joined Highway's board of directors.
Advisor: Raymond James served as financial advisor to Highway, and TD Securities served as financial advisor to FTV Capital.
KEY QUOTES:
"Highway was built to solve an important and growing challenge for freight brokers: combating skyrocketing fraud within their networks in real-time. We are thrilled to partner with FTV to help drive our next phase of expansion. The firm's strong track record backing innovative supply chain and logistics businesses, combined with deep domain expertise in our industry, makes them an ideal partner as we execute on our ambitious growth plan to diversify our products and extend our market-leading position."
Jordan Graft, CEO of Highway