Arrive Logistics plans 1,000 hires after Mubadala majority investment
Mubadala Capital has acquired a majority stake in Austin, Texas-based freight brokerage Arrive Logistics. The post Arrive Logistics plans 1,000 hires after Mubadala majority investment appeared first on FreightWaves .
Arrive Logistics is set to hire 1,000 new employees and invest in technology as part of a majority investment from Mubadala Capital. The Austin, Texas-based freight brokerage announced the deal, which is expected to close in the fourth quarter, subject to certain conditions. With over 2,000 employees across 10 North American locations and a network of 10,000 carriers, Arrive plans to expand its workforce and freight offerings.
CEO Matt Pyatt stated that the investment will enable the company to grow its teams and capabilities in produce, cross-border, open-deck, less-than-truckload, partial shipments, and its Universal Trailer Pool. The investment will also fund the development of Arrive's proprietary ARRIVEnow transportation management system and further technological advancements to enhance service, productivity, and reduce costs.
Lead Edge Capital, one of Arrive's investors, sees artificial intelligence as a potential growth driver. Despite Mubadala's majority stake, Arrive's geographic focus remains on North America, with expansion opportunities in cross-border and domestic freight services.
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