On September 15, 2022, Denim, a leading financial enablement platform for the freight and logistics industry, announced the closing of $126 million, including a $26 million Series B  financing led by Pelion Venture Partners and $100 million in debt financing. The funding is a combination of equity to scale its platform and debt financing to provide working capital to freight brokerages. Along with its new capital, the company also reintroduced itself as Denim. The Series B funding round, which was led by Pelion Venture Partners, included participation from Crosslink Capital, Anthemis, Trucks VC, FJ Labs, Tribeca Early Stage Partners, and Refashiond Ventures.

Wilson Sonsini represented investor Pelion Venture Partners in the transaction. The team was led by Marc Porter, Maureen Stringham, Myra Sutanto Shen, and Bryn Lewis.

For more information, please see the press release.