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Cargomatic rebuilds executive team in spirit of innovation – FreightWaves – Ashley Coker, Editor

California-based startup Cargomatic competes in the local freight-matching marketplace, using technology to connect drivers and shippers without all the back office red tape. The company has rebuilt its C-suite over the last several months, bringing on new talent in the hopes of propelling itself toward further innovation.  The company currently connects drivers and shippers in […]

Commentary: How digital brokerage has become a “no-code” endeavor – FreightWaves – Charley Dehoney

FreightWaves features commentary from Market Voices – contributors with unique knowledge of numerous transportation/logistics/supply chain sectors, as well as other critical expertise. In the Stone Age of transportation brokerage – the 1980s – technological innovations came in the form of new equipment purchases in an effort to speed up transactions. This might be a second […]

Truck Technology Startup Raises $97 Million for Port Freight Plan – WSJ – By Erica E. Phillips

The developer of a freight-matching app for truck drivers and shippers at the ports of Los Angeles and Long Beach has raised $97 million in new funding as the startup works to improve its fledgling technology and expand to other ports. NEXT Trucking Inc. said Wednesday that Brookfield Asset Management Inc. ’s venture investment arm […]

App-Enabled Freight Platforms Help Small Carriers Find Loads, Boost Efficiency – Transport Topics – Mindy Long

The Uber Freight app provides drivers with upfront load pricing and quick payment, the company says. (Uber Freight) Large fleets typically have been the first to benefit from the spread of technology in trucking, but digital freight brokers are working to extend some of the same advantages to smaller carriers and independent drivers. Companies such […]

Convoy secures $185 million in Series C funding round – Logistics Management – By Jeff Berman, Group News Editor

Seattle-based Convoy, a digital freight technology-enabled network, recently announced it secured $185 million in Series C funding. The company said the round of funding was led by the growth equity investment fund of Google’s parent Alphabet City, CapitalG. With this funding, Convoy said that the amount of total capital it has raised now stands at […]

Digital Freight Startup Convoy Raises $185 Million, Surpasses $1 Billion in Value – WSJ – By Erica E. Phillips

Digital freight-booking startup Convoy raised $185 million in a funding round led by an investment arm of Google parent company Alphabet Inc., GOOG 0.76% adding big new backing for the company competing in an increasingly crowded field trying to reshape U.S. shipping operations. The funding round led by Alphabet’s CapitalG, one of the biggest investments […]

Chaos is good for third-party logistics providers – FreightWaves – Chris Dupin

It’s a good time for 3PLs when capacity is tight and supply chains are speeding up.    The global third-party logistics market is on track to exceed $1.1 trillion in 2022. That’s 10 percent of global logistics costs, according to consultants Armstrong & Associates, and a leap from the $802 billion recorded in 2016.   Armstrong […]

Goldman Sachs: digital disruptors will compress brokerage margins – FreightWaves – John Paul Hampstead, Associate Editor

But incumbents can protect their market shares Last week, a Goldman Sachs equity research team led by Matthew Reustle, CFA, released a report titled “Commoditizing Logistics: Assessing ‘Disruptive’ Links in the Supply Chain.” The report was apparently intended to answer investor questions about threats to large logistics incumbents’ margins and market share.  It’s worth noting […]

Convoy and Uber Freight take on US truck brokerage – JOC – Chris Barnett, Special Correspondent

Convoy, backed by billionaire tech pioneers Jeff Bezos and Bill Gates, and Uber Freight, an offshoot of the globally disruptive ride-sharing giant, are trying to grab a slice of the fragmented US truck brokerage market, taking different routes to lure skeptical drivers and capacity-hungry shippers. The two technology startups are attempting to persuade US shippers […]

How can technology brokers in logistics grow their market share and compete with the largest 3PL in 2018? – Trent Charlton – LinkedIn

Hint: It’s all about getting owner operators and independent contractors to stay. Strategic partners are the best way for a technology broker to get up and running in a new market. These symbiotic partnerships help the technology broker ramp their volume exponentially to keep their newly on-boarded carriers happy while the strategic account has the […]