Convoy, a Seattle-based network that connects trucking companies with freight shippers, has raised $62 million in Series B funding. Y Combinator's Continuity Fund led the round, with partners Anu Hariharan and Ali Rowghani joining the Convoy board of directors. Other backers include Bill Gates' Cascade Investments, Mosaic Ventures, Barry Diller and Greylock Partners.

Investment thesis: This is all about efficiency, in terms of reducing the amount of time that trucks drive empty (which Convoy CEO Dan Lewis estimates to be 40%). Decreasing such vacancies could become a major margin improvement tool for trucking companies, as they continue to wait for the advent of autonomous vehicles.

Flashback: On Friday we reported that YC Continuity is "now willing to selectively back companies that didn't participate in its accelerator program," adding that it already had one such unannounced transaction. Well, this is it. Anu Hariharan tells Kia that such deals will be rare and still come via the YC network even if not incubated within YC. As for why Convoy, she cited a large market opportunity born of the trucking industry's historic lack of innovation.

Bottom line: "The U.S. trucking industry, which exceeded $700 billion in 2015 with freight volume expected to grow another 3% in 2017, has traditionally used brokers to help facilitate transactions between trucking companies and shippers. But that process, from finding to matching to pricing jobs, is often done manually. Convoy is bringing automation to that workflow." – Taylor Soper, GeekWire

Go deeper

Roger Marshall wins Republican Senate nomination in Kansas primary

Rep. Roger Marshall. Photo: Mark Reinstein/Corbis via Getty Images

Rep. Roger Marshall won the Kansas Republican Senate primary on Tuesday evening, beating former Secretary of State Kris Kobach and a slew of other candidates, AP reports.

Why it matters: Following GOP Sen. Pat Roberts' retirement announcement, some Republicans worry that if Kobach won the primary it would endanger the party's chances of keeping the seat and maintaining a majority in the Senate.

Updated 1 hour ago - Politics & Policy

Primary races to watch in Arizona, Kansas, Michigan, Missouri, Washington

Photo: Michael B. Thomas/Getty Images

Primary elections on Tuesday in fives states see crowded fields of both Republicans and Democrats hoping to make the ballot in 2020.

What to watch: Rep. Rashida Tlaib (D-Mich.) is "fighting for her political life" in a tight primary race against Detroit City Council President Brenda Jones, who Tlaib beat by 900 votes in 2018, The New York Times writes. Senate Republicans are also watching the primary race in Kansas to see who could replace retiring Republican Sen. Pat Roberts.

Updated 2 hours ago - Politics & Policy

Coronavirus dashboard

Illustration: Sarah Grillo/Axios

  1. Global: Total confirmed cases as of 8:30 p.m. ET: 18,448,084 — Total deaths: 698,023 — Total recoveries — 11,048,174Map.
  2. U.S.: Total confirmed cases as of 8:30 p.m. ET: 4,765,170 — Total deaths: 156,668 — Total recoveries: 1,528,979 — Total tests: 57,543,852Map.
  3. States: New York City health commissioner resigns in protest of De Blasio's coronavirus response — Local governments go to war over schools.
  4. Public health: 59% of Americans support nationwide 2-week stay-at-home order in NPR poll.
  5. Politics: Trump's national security adviser returns to work after coronavirus recovery Republicans push to expand small business loan program.
  6. Sports: Indy 500 to be held without fansRafael Nadal opts out of U.S. Open.