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The freight technology sector, also known as FreightTech, refers to software companies and technologies which assist in supply chain management and the movement of freight. [1] In the five years following 2014, investment in FreightTech companies grew from $118 million to $3 billion per year.
The platform, which connects airlines, ocean liners, trucking carriers, forwarders, and importers or exporters, facilities over a million annual transactions across 55 carriers [3]. It also provides rate management and quoting software for freight forwarders and carriers through WebCargo by Freightos, a subsidiary acquired in 2016 [4] [5].
Flexport Inc. is an American multinational corporation that focuses on supply chain management and logistics, including order management, delivery, trade financing, insurance, freight forwarding, and customs brokerage. The company is headquartered in San Francisco, California, [4] has thousands of employees and annual revenues of more than $3.3 ...
Matt Tillman, a serial tech entrepreneur, had the idea for a freight and logistics platform in 2014, when he tried to book space on a container vessel to ship a truck. He created a reverse auction over email, treating all freight forwarders the same, and realized that the process could be automated.
By January, 2015, Descartes had posted 41 straight profitable quarters [17] and was supplying logistics software and services to more than 10,000 logistics-centric businesses, such as ground transportation companies, airlines, ocean carriers, freight forwarders, manufacturers, distributors, and retailers.
Examples are courier, express and parcel services; ocean carriers, freight forwarders and transshipment providers. The most significant difference between a second party logistics provider and a third-party logistics provider is the fact that a 3PL provider is always integrated into the customer's system.
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