August 14, 2019

Transfix promotes COO to president

Transfix promotes COO to president

Shen is set to lead "aggressive growth trajectory" for digital freight marketplace.

By DC Velocity Staff

Logistics tech startup Transfix has promoted its chief operating officer to president, saying Lily Shen will help the company chart an "aggressive growth trajectory" in the digital freight matching (DFM) sector.

As COO, Shen had led New York-based Transfix' operations and growth for the past two years. She will now expand that role to oversee all departments including corporate development, product, engineering, finance, legal and human resources, with the executive team directly reporting to her, the firm said.

Transfix uses artificial intelligence (AI) and machine learning technology to optimize the process of matching freight carriers with shippers. The company is backed by nearly $79 million in venture capital, including a $42 million round raised in 2017. That makes it one of the better-funded entrants in the blooming "Uber for trucking" segment, alongside names like Convoy, Cargomatic, KeepTruckin, and Uber Freight itself.

"In the past two years of having Lily on board, we've seen massive growth both on the business and product development side," Transfix CEO and Co-founder Drew McElroy said in a release. "Lily is a tremendous strategist and operator with a natural knack for building strong teams. She's been a catalyst in establishing Transfix as the go-to platform connecting shipper and carrier communities, while ensuring our business goals align with our overall mission to improve and evolve the industry as a whole."

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