Mudflap has acquired Parade for an undisclosed amount, according to a person familiar with the matter. If completed, the deal would pair Mudflap’s extensive fuel network with Parade’s capacity management and carrier relationship platform, which has facilitated more than $40 billion in total cumulative freight transactions.
Mudflap boasts more than 515,000 drivers. The Palo Alto/Menlo Park-based fintech company provides fuel discount solutions to fleets via a mobile app and fuel card. Mudflap was founded in 2016 by Sanjay Desai, former chief product officer at Trucker Path.
Mudflap recently closed an unattributed venture capital round in December for an undisclosed amount.
Parade was founded in San Francisco in 2015 by Anthony Sutardja, Preet Sivia and Tony Wu. The company, composed of former Convoy, project44 and Trucker Tools employees, is a capacity management and carrier relationship platform designed for brokerages and 3PLs. It includes a specialized tool that integrates with existing TMS platforms. According to PitchBook, Parade has 48 employees.
Parade’s last major funding was a $17 million Series B on Sept. 14, 2023. The round was led by I Squared Capital with participation from Menlo Ventures, Earthshot Ventures, 9Yards Capital and strategic angels, including individuals from DAT, Redwood Logistics and project44.
FreightWaves has reached out to Mudflap for comment.
This is a developing story.
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