Employees at C.H. Robinson. (Photo courtesy of Steven A. Smith) When financier Brad Jacobs launched his bid to consolidate the logistics industry in 2011, he set into motion a process that continues to reshape the industry today. But now there are other business strategies in play with the potential to disrupt the business and spur …
In February, Chicago-based Redwood Logistics announced its acquisition of Strive Logistics, a freight brokerage with offices in Chicago and Austin, Texas, placing the combined entity in the top 15 North American freight brokerages with a combined $1 billion of freight under management. Commenting on the deal, Redwood CEO Mark Yeager pointed out that Strive’s LoadRunner, …
In the not-so-distant future, matching loads with trucks could be as easy as catching a ride across town with the Uber app. In fact, Uber Freight is among a number of technology companies trying to digitize the entire load matching process. For most transportation companies, however, the road to automation is a work in progress. A sign …
The business consulting firm Frost & Sullivan released the results of its new study of trucking-as-a-service (TaaS) and digital freight brokerage this week. From an estimated current size of $11.2 billion, Frost & Sullivan expects TaaS to grow to $79.4 billion by 2025. Digital freight brokerage will account for the lion’s share of this market—Frost …
CarrierLists, a firm that surveys small trucking carriers about their equipment, location and preferred lanes, has published the results of its digital freight brokerage/load-matching app study. In a survey conducted during January 2019, 113 small carriers (three trucks or fewer) answered questions about which load-matching apps they had downloaded and which ones they used on …
At 12, Drew McElroy was in trucking. His parents ran a freight brokerage operation out of a spare bedroom in Milltown, New Jersey—connecting truck owners to companies that needed to move goods—and he helped out by working the phones. Fifteen years later, a light bulb went off. Weren’t truck brokers doing the same thing that …
Last year, about 20 of the nation’s largest shippers, who represent $20 billion in annual freight spend, came to Chicago for a customer advisory board meeting with FourKites. More than 200 of the largest Fortune 1000 shippers use FourKites for shipment tracking, analytics and other applications. The company’s freight visibility platform integrates with the ELD …
FourKites FourKites, a load tracking firm, is tapping a former UberFreight executive to head up a new service offering predictive capacity management to shippers and carriers. “This is the next big opportunity in supply chain and logistics,” said Matt Elenjickal, founder and CEO of FourKites, in announcing the hiring of Kristopher Glotzbach as vice president …
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 …
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 …
