Highway secures investment for carrier fraud platform

Highway, the Dallas-based technology company behind the Carrier Identity platform, has secured a strategic growth equity investment led by FTV Capital, with additional participation from Lead Edge Capital. The funding marks a significant step in the company’s efforts to expand its product suite and accelerate growth as freight brokers face intensifying challenges around fraud and compliance.

Highway launched in 2022 with a mission to help brokers verify carriers in real time, safeguard their networks, and reduce losses tied to fraud. Its Carrier Identity platform has quickly gained traction in the market, serving more than 1,050 brokers, including 70 of the largest 100 in the United States.

By combining real-time data and automated compliance tools, the company has created what many in the industry view as a first line of defense against fraudulent activity in the supply chain.

“Highway was built to solve an important and growing challenge for freight brokers: combating skyrocketing fraud within their networks in real-time,” said Jordan Graft, CEO of Highway, in a news release. “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.”

The investment comes at a time when freight brokers are under mounting pressure. The U.S. freight market has become more complex as shipping volumes grow, carriers remain lean, and volatility across the supply chain increases.

Brokers now manage roughly 30% of all truckload spend, a figure that underscores both their importance and their vulnerability to fraudulent actors. The need for trusted, real-time fraud prevention solutions has become central to their ability to operate efficiently and protect their customers.

For FTV Capital, which has a long history of investing in supply chain and logistics technologies, Highway represents a strong fit. “As freight brokers continue to gain greater market share with freight volume rising, fraud has intensified. To combat this, Highway is creating a more secure, data-enriched ecosystem through its scaled network of vetted brokers and carriers, ultimately resulting in fewer losses and disruptions,” said Jerome Hershey, principal at FTV Capital, in a news release. “At FTV, we’ve invested in tech-enabled supply chain and logistics businesses for over two decades and have been impressed with the mission-critical software platform Jordan and the team have built, resulting in a highly retentive blue-chip customer base and scalable profitability. We’re thrilled to help the company build on its strong momentum and reinforce its position as the industry leader in carrier fraud protection.”

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As part of the transaction, Hershey of FTV and Nimay Mehta, managing partner at Lead Edge Capital, will join Highway’s board of directors. Raymond James advised Highway on the deal, while TD Securities represented FTV Capital.

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