Transfix, Inc.), the Intelligent Freight Platform™, today announced the appointment of Jeffrey Immelt to its Board of Directors.
Mr. Immelt has served as a venture partner with NEA since 2018 and formerly served as the Chairman and Chief Executive Officer of General Electric from 2001 to 2017. He brings to Transfix decades of experience as an executive and director of public companies, and currently serves on the board of numerous public and private companies.
“I am so pleased to welcome Jeff to the Transfix Board of Directors at this incredible time in our company’s history,” said Lily Shen, CEO and President of Transfix. “His experience leading GE, a world-class global enterprise, and his work advising numerous high-growth companies, will be tremendously valuable as we continue our growth trajectory and execute on our vision of a world where goods move seamlessly, sustainably, and with trust.”
During his 16 year tenure at GE, Immelt revamped the company’s strategy, global footprint, workforce, and culture. Under his leadership, GE doubled industrial earnings, reshaped the portfolio, re-established market leadership, strengthened share position in essential industries, and quadrupled emerging market revenue.
Immelt said, “There’s greater need now than ever for Transfix’s data, technology, and service platform and I am excited to be a part of the team’s vision in bringing innovation to transportation and logistics. From my experience leading GE and seeing first-hand the massive inefficiencies in the supply chain, I can attest to the fact that advancement within this sector requires data and automation. Transfix has spent the last eight-plus years building sophisticated data modeling and advanced automation capabilities to solve some of the more complex challenges facing the industry. I look forward to working with the industries and enterprise customers I know so well.”
Immelt has been named one of the “World’s Best CEOs” three times by Barron’s, and under his leadership, GE was named “America’s Most Admired Company” by Fortune magazine and recognized as one of “The World’s Most Respected Companies” in polls by Barron’s and the Financial Times. He has received 15 honorary degrees and chaired the President’s Council on Jobs and Competitiveness during the Obama administration.
As a venture partner with NEA, Immelt serves on the Board of Directors of Twilio Inc., Bloom Energy Corporation, and Bright Health Group, Inc., among others. He is also a member of the Compensation Committee at Twilio and Bright Health.
Immelt received a B.A degree in Applied Mathematics from Dartmouth College and an M.B.A. degree from Harvard University.
As announced on September 21, 2021, Transfix has entered into a definitive business combination agreement with G Squared Ascend I Inc. (“G Squared Ascend I”) (NYSE: GSQD), a special purpose acquisition company sponsored by affiliates of G Squared, that is expected to result in Transfix becoming a publicly listed company. Completion of the business combination is subject to customary closing conditions.
About Transfix
Transfix drives modern supply chain impact at scale with its Intelligent Freight Platform™. By combining enterprise-grade, machine-learning technology with intuitive software and dedicated supply chain experts, Transfix is enabling organizations to deliver with high performance and high reliability, drive long-term strategy and capacity planning, take empty miles off the road, and optimize their networks, at scale. Today, Transfix connects shippers to 28,000+ carriers with real-time, many-to-many freight matching and the visibility they need to make their supply chains more efficient and environmentally responsible. Learn more at Transfix.io.
About G Squared
G Squared is a global venture capital firm that partners with dynamic companies throughout their life cycles as a complete capital solutions provider, working to create value for companies, investors, employees, and other stakeholders. The firm focuses on investments in growth-stage technology companies and has invested in over 100 portfolio companies since it was founded in 2011. The firm’s affiliate, G Squared Ascend I Inc. (“G Squared Ascend I”), offers transformative private companies a path to public markets via SPAC. For more information on G Squared and its portfolio, visit: www.gsquared.com. For more information on G Squared Ascend I, visit: www.gsquaredascend.com.
