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 …
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 …
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 …
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 …
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 …
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, 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 …
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 …
The-commerce giant has launched an app that will make deliveries from its Amazon fulfillment centers more efficient allowing truck drivers get in and out of warehouses faster, permitting them to check in with a QR code instead of badging in through security. Amazon Relay, quietly launched last month and first reported by CNBC, saves truck …
