NYSHEX has landed its third funding round in 24 months, a $25 million investment that supports the notion the shipping industry is starting to embrace mutually enforceable contracts.
Freight Procurement Systems
Freight Procurement Systems
News & Analysis
13 Sep 2022
MyCarrier has created automation partnerships with 15 less-than-truckload (LTL) carriers and will handle more than $1 billion in shipper freight spend, factors that induced venture firms to invest $22 million in the company.
13 Sep 2022
Demand for rate benchmarking tools grew during the pandemic’s wild pricing swings in ocean shipping, which has helped fuel a new $80 million investment in Oslo-based software provider Xeneta.
01 Aug 2022
Load board provider DAT and freight broker Convoy have sued one another over Convoy’s development of a product that DAT says is competitive with its own, violating a contract Convoy signed with DAT.
25 Jul 2022
Deciding whether to outsource key logistics functions is an existential question for shippers, one made harder by external dynamics being out of whack during the pandemic.
09 Jun 2022
Freight management software provider Cargobase is expanding into Mexico to tap into cross-border, near-shoring, and Latin American market opportunities for its procurement and execution tools.
23 May 2022
Technology provider Draying.io wants to use its experience in developing a transportation management tool for carriers to help shippers automate the sourcing and pricing of port moves.
16 May 2022
Keelvar has landed a $24 million funding round to build its US presence around the logistics procurement automation tools it provides to large shippers like Coca-Cola, Nestle, and Samsung.
03 May 2022
In the first four months of 2022, fewer than half of ocean freight contracts signed across 13 major trade lanes have been annual in duration, as shippers try new procurement strategies to wade through constrained vessel capacity.
20 Apr 2022
Procurement automation is already changing the nature of how shippers buy capacity from carriers and intermediaries, an evolution that will accelerate in the years ahead as humans adapt to the technology.
06 Apr 2022
Fresh off a seed funding round in February, truckload pricing intelligence provider Greenscreens.ai has built connectivity with procurement technology partners FreightFriend and 3Gtms.
04 Apr 2022
Freight marketplace Emerge has designs on reshaping the truckload procurement space in North America, with an ambitious target of $20 billion in freight spend through its platform this year.
31 Mar 2022
Shippers are bidding for freight more frequently due to supply volatility, driving growth in European procurement startup Shipsta that has led to a new funding round from investors.
23 Feb 2022
A provider of technology to help brokers understand appropriate spot pricing has nabbed funding from an array of notable investors, including Tiger Global and Cambridge Capital.
09 Feb 2022
Freight brokerage technology vendor Parade has landed a venture capital round to build out its tools to help truckload intermediaries automate the sourcing and management of capacity.
09 Feb 2022
Leaf Logistics has turned growth of its forward truckload contract and procurement optimization products into a new funding round that it will use to double its headcount and expand its product suite.
30 Sep 2021
Logistics software vendor Cargobase has expanded its reach into the transportation management system market, driven by demand from its spot procurement technology customers.
18 Aug 2021
A new digitally focused ocean freight consolidator believes it can piggyback on demand in India for less-than-container load (LCL) services with a transparent approach to pricing.
05 Aug 2021
Leaf Logistics has carved out a niche by enabling shippers to tie up forward truckload contracts, but is now aiming to help them move more volume away from static contract rates.
05 Aug 2021
Freightify, formerly known as FreightBro, has landed $2.5 million in funding to support a global expansion of its vertical approach to online ocean rate management software.
03 Aug 2021
Broader digital capacity and rate connectivity between container lines and forwarders could change the use case for rate management software, a new Freightos report suggests.
02 Aug 2021
Logistics procurement software providers are becoming increasingly attuned to the mandate their retail and manufacturing customers face to reduce freight-related carbon emissions.
13 Jul 2021
Digital forwarders and investors are eyeing an underserved Latin American market with a combination of service models that have found success in other markets and local expertise that is difficult to replicate for outsiders.
29 Jun 2021
High-profile digital intermediaries Flexport and Convoy are partnering to provide shippers an integrated ocean and truckload service by connecting their respective technology platforms.
22 Jun 2021
Freightos is linking its freight marketplace and rate management products to offer forwarders a white label quoting and booking solution.
17 Jun 2021
Record-high container freight rates are underscoring the need for shippers to be able to benchmark against peers, a factor in Oslo-based technology provider Xeneta nabbing a new round of venture capital Thursday.
10 Jun 2021
European transportation technology heavyweight Transporeon has acquired freight procurement automation specialist TNX Logistics in a bid to amp up its customers’ spot buying prowess.
26 May 2021
Vanguard Logistics has begun providing forwarder customers direct access to rates via Freightos’s WebCargo product, a shift designed to expedite the quoting and booking process.
19 May 2021
Convoy is expanding its drop-and-hook program to cover more spot freight, a move that lets shippers negotiate demand variability without sacrificing the efficiency benefits of pre-staged loads.
12 May 2021
European digital freight broker sennder has continued its acquisition activity by buying a Dutch dedicated fleet broker to add to its growing network.
11 May 2021
The list of container lines able to quote rates and accept bookings through their websites has expanded over the past year, with Singapore-based Ocean Network Express now giving shippers and forwarders such tools.
10 May 2021
The importance of integrating rate management capability into a forwarder operating system has driven Descartes to acquire German software maker Portrix, the third such acquisition by a widely used forwarding system in recent years.
06 May 2021
Perishable shippers seeking to wean themselves off a reliance on brokers have a new venture-backed platform that connects them directly with a network of pre-vetted reefer carriers.
29 Apr 2021
Drewry is partnering with procurement software vendor Freightender to reinvigorate its procurement services product for shippers in an ocean freight market beset by rapidly changing pricing dynamics.
22 Apr 2021
A lack of teeth in the offline freight contracting process has led to chronic capacity availability problems, but freight marketplaces see a path to use buyer-seller rules to redraw the terms of engagement.
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