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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.
Flexport's software integrates and connects ERP data from various companies involved in a supply chain, which allows them to manage information about cargo and streamline freight processing. [5] As of 2017, it had raised $304M, including $110M in a Series C round .
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].
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.
2003 Acquired Chicago-based customs broker and freight forwarder Osowski, launching Livingston into the U.S. air/sea customs and freight forwarding market. [ 14 ] 2005 Acquired Great Lakes Customs Brokerage, a U.S. northern border customs broker, and its software application business, SouthRanch.
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.
Notable companies and organizations which use Quintiq software include Copenhagen Airport, Danone, international shipping company DHL, the United States Federal Aviation Administration (FAA), Jumbo (supermarket), KLM Royal Dutch Airlines, ThyssenKrupp Steel Europe AG, freight forwarder P&O Ferrymasters, copper recycler Aurubis, and retailer ...
The idea for Menlo Logistics was developed in the late 1980s. At that time, CF Inc.’s director of marketing, John Williford, presented the idea for the company's creation — an organization that offered warehouse, inventory, and transportation management as well as full integration of supply chain links through customized systems and software — to upper management.
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