Convoy was a Seattle-based digital freight platform that matched brokers and carriers to move truckload freight. It raised more than $1B before shutting down in 2023 after failing to find a buyer. The company was founded by Dan Lewis and focused on logistics automation for shippers and carriers.
Access to pre-IPO shares is available to accredited investors through UpMarket.
Latest Price
$3.8B
Series E, Jan 2022, Perplexity
UpMarket Estimate
$3.2B
Based on UpMarket valuation model
How to Invest in Convoy Through UpMarket
Convoy shares are not on public exchanges. UpMarket provides accredited investors access through secondary market transactions.
Step 01
Verify accredited investor status
Confirm eligibility under SEC Rule 501 of Regulation D. Income or net worth threshold applies.
Step 02
Create an UpMarket account
Complete KYC/AML onboarding. Typically 1–2 business days. Licensed rep assigned on signup.
Step 03
Review available Convoy offerings
Full offering memoranda and risk disclosures provided before any commitment is required.
Step 04
Complete subscription documents
Review and sign subscription agreement. All documents handled digitally through the platform.
Step 05
Fund your investment
Wire transfer or ACH. $50K minimum. Funds held in custodial account until close.
Pre-IPO investments are illiquid, speculative, and involve risk of total loss of capital.
$1.3B+
UpMarket has brokered over $1.3 billion in alternative investments*
*Includes principal invested and appreciation of investments originated via the UpMarket platform based on historical trade volume and valuation estimates through March 31, 2026. Of the total, approximately $301 million is managed by UpMarket Management, with the remaining originated investments managed by affiliates. Past performance is not predictive of future results.
Valuation Growth Over Time
Post-money valuation by round
Previous roundsMost recent
Date
Round
PPS (split-adj.)
Valuation
Jan 2022
Series E
$3.8B
Convoy Revenue and Growth
Annual revenue
Why Investors Are Watching Convoy
Growth Signal
Convoy’s 2018 $185M round lifted valuation to $1B
Convoy raised $185 million in fresh funding in 2018, bringing total capital raised to $265 million at the time. The round valued the Seattle-based trucking startup at more than $1 billion, marking unicorn status.
Competitive Moat
Alphabet’s CapitalG led Convoy’s $185M strategic round
CapitalG, Alphabet’s growth equity arm, led Convoy’s $185 million financing, signaling strong investor confidence in its tech-enabled trucking network. The round also included T. Rowe Price and Lone Pine Capital, alongside existing backers.
Market Opportunity
Convoy later closed $260M at a $3.8B valuation
Convoy later closed a $260 million financing round, including $160 million in Series E equity and $100 million in venture debt. The equity portion valued the company at $3.8 billion and added a new $150 million JPMorgan credit line.
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No. As of March 2026, Convoy is a private company and does not trade on any public stock exchange. Accredited investors can access Convoy shares through UpMarket, a FINRA-registered broker-dealer that specializes in pre-IPO investments.
Convoy does not have a public stock price because it is privately held. The most recent known share price comes from its last funding round. Pre-IPO share prices on the secondary market may differ from the last round price depending on supply, demand, and market conditions.
Yes. Accredited investors can indicate interest in Convoy shares through UpMarket by filling out the form on this page or creating an account at upmarket.co. All pre-IPO offerings are subject to availability and require a $50,000 minimum investment. UpMarket is a FINRA-registered broker-dealer and has brokered more than $500M in alternative investments since 2019.
Pre-IPO investments carry significant risks. Convoy shares are illiquid, meaning there is no public market to sell them quickly. There is no guaranteed exit timeline or return. The investment is speculative in nature, and investors should be prepared for the possibility of total loss. Valuations of private companies can fluctuate substantially between funding rounds. Investors should consult their financial advisor and review all offering documents before investing.
In a pre-IPO transaction, accredited investors purchase shares from existing shareholders (such as employees, early investors, or other holders) through secondary market platforms. The company itself does not issue new shares in these transactions. UpMarket facilitates these trades as a FINRA-registered broker-dealer, handling compliance, documentation, and settlement on behalf of both parties.
There are two primary exit paths for pre-IPO holdings: selling your shares on the secondary market to another buyer, or holding until the company completes an IPO or is acquired. Both paths are subject to transfer restrictions, company approval (right of first refusal), and market conditions. The timing of any exit is unpredictable, and investors should plan for a multi-year holding period.
The minimum investment for most pre-IPO offerings on UpMarket is $50,000. This amount may vary depending on the specific offering and share availability. There are no fees to create an UpMarket account or browse available investments. Investors only pay transaction-related fees when they complete an investment.
UpMarket's valuation estimate of is derived from a proprietary model that incorporates multiple data sources: funding round data (Caplight), revenue estimates (Sacra), secondary market pricing, and public company comparables. The model applies a private company discount to the public comp multiple to account for illiquidity and information asymmetry. This estimate is not investment advice and may differ substantially from the price at which shares actually trade.
Convoy operated a Seattle-based digital freight platform matching brokers and carriers to move truckload freight, reached $300M revenue in 2019 and a $3.2B valuation, after its 2018 $185M round lifted valuation to $1B — accredited investors can access Convoy stock through UpMarket.