Convoy operates a digital freight network that connects shippers with carriers, simplifying the freight process and reducing costs for clients. Its platform eliminates the need for traditional freight brokers, allowing for direct communication and transactions between shippers and trucking companies. Convoy's technology is designed to handle market fluctuations, ensuring consistent trucking capacity for its clients. The company generates revenue by charging fees for its services, including a drop-and-hook program that enhances efficiency by allowing shippers to quickly exchange trailers. Additionally, Convoy offers real-time shipment tracking, which helps clients manage their logistics more effectively. What sets Convoy apart from competitors is its commitment to high-quality service and customized solutions, fostering long-term partnerships with clients.

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Automotive & Transportation

Convoy

Flexport has launched a technology platform that provides global shippers with access to a trucking capacity marketplace of small carriers and owner-operators. The new Convoy Platform is designed to offer shippers and brokers near real-time visibility, exceptional on-time performance and competitive rates, allowing them to efficiently manage their capacity needs, the global logistics technology firm said in a Thursday (Feb. 22) press release. By connecting small carriers with shippers, the Convoy Platform aims to strengthen the logistics ecosystem for all parties involved, according to the release

Flexport Launches Platform Connecting Global Shippers And Small Carriers

Seattle-headquartered Convoy shuttered in October 2023, laying off approximately 500 workers.

Digital freight broker Convoy resurrected after company closure last year

Streamlined platform will provide effortless access to freight for small carriers, as well as precise shipment visibility and exceptional on-time performance for shippers and brokers, enabling them to tap into a network of carriers and owner-operatorsThe Convoy Platform will strengthen the logistics ecosystem for shippers, carriers, and brokers alike through industry-leading technologySAN FRANCISCO, Feb. 22, 2024 /PRNewswire/ -- Today, Flexport , a global logistics technology leader, announced the launch of the Convoy Platform , a technology platform that offers global shippers access to a trucking capacity marketplace of small carriers and owner-operators. The launch marked the first milestone since Flexport acquired Convoy, Inc.'s technology and intellectual property in November 2023.The new Convoy Platform connects highly reliable, committed, and engaged small carriers with shippers and brokers looking for near real-time visibility, exceptional on-time performance, and competitive rates to efficiently manage their capacity needs. This network presents an incredible supply of service providers that will offer dependable, fast, and efficient Full Truckload (FTL) services for Flexport customers. As part of Flexport's continued investment to strengthen the ecosystem of the trucking industry, Flexport plans to expand the offerings of the Convoy Platform for brokers in Q2 2024. Brokers will have access to high-quality capacity backed by market-leading fraud detection technology and ongoing automated predictive performance scoring and quality control."Today's launch of the Convoy Platform furthers Flexport's product vision to build a true one-stop-shop to ship any product, in any quantity, between any two places in the world," said Flexport CEO Ryan Petersen

Flexport Launches The Convoy Platform, Restores Leading Trucking Technology To Market

Last year saw a surge in layoffs in the logistics sector as freight volumes declined. So far, 2024 isn’t shaping up to be much better for the industry, as The Wall Street Journal (WSJ) noted in a report Monday (Jan. 29). Among the companies cutting jobs this year are Flexport, warehousing provider Flexe and digital broker Uber Freight, the report said, as weaker freight volumes and high interest rates leave firms feeling stretched

Logistics Startups Slash Jobs As Freight Volumes Drop

The Seattle waterfront and Port of Seattle properties, with a container ship and West Seattle in the background. (GeekWire Photo / Taylor Soper)Buoyed by longtime logistics giants such as Amazon and the rapid rise of trucking startup Convoy, the Seattle region has emerged as a major epicenter for supply chain software innovation.There are at least 15 startups in the Seattle area (listed below) that develop logistics software to help companies move and manage physical goods.The supply chain talent pool in Seattle has a unique blend of “technical skill and customer focus required to win in today’s economy,” said Jason Murray, a former Amazon vice president and co-founder of Seattle-based shipping logistics startup Shipium.That talent can be traced back to global corporations in Seattle such as Starbucks, Costco, Expeditors, and Amazon.The city has an abundance of “supply chain awareness,” said Dan Lewis, co-founder and former CEO of Convoy, a one-time darling of Seattle’s startup scene that raised investment from the likes of Jeff Bezos and Bill Gates. The digital trucking marketplace was valued at more than $3 billion before shutting down in 2023 and selling its assets to Flexport, which re-launched the platform this year and has a Seattle-area satellite office.The supply chain crisis during the pandemic, along with advances in mobile, AI, and other software-related technologies, has driven interest and funding to logistics startups, Lewis said. Lewis and his co-founder Grant Goodale cut their teeth at Amazon before launching Convoy in 2015.Other Amazon leaders have taken the startup leap into logistics in Seattle, including Dave Clark, the former Amazon Worldwide Consumer CEO who just raised $100 million for Auger, a supply chain tech startup.An Amazon electric van in Seattle. (GeekWire Photo / Kurt Schlosser)Clark, who was recently based in Dallas, returned to the Seattle area to launch Auger.“I think some of the best talent in the world for this particular problem space lives in Seattle,” he told GeekWire in October.Bryan Lacaillade is another former Amazonian now leading a Seattle-area logistics startup, launching Freightmate earlier this year.“Seattle’s logistics tech ecosystem is truly world-class and was the primary reason we chose to launch Freightmate here,” said Lacaillade, who previously worked at Flexport.Mo Afshar, CEO of Pipe17, a Seattle e-commerce operations startup, said the physical proximity to Amazon gives his company an advantage.“Amazon has defined a lot of what logistics means in the modern world, so being in the same city really makes a difference,” he said. Seattle has built a reputation around the country as a hub for logistics tech talent

A List Of Logistics Startups In Seattle, A ‘World-Class’ Hub For Supply Chain Software Talent

Even at Convoy, there were incidents of freight theft over some of its shipper's freight and despite being pretty far removed from the incidents at the time, I could feel its impacts in my org.

Freight Fraud: Where to find safe loads

Prior to Flexport's acquisition of the Convoy app and the company's related intellectual property in November 2023, Convoy had been developing an app called Convoy for Brokers that started to gain traction.

Flexport Expands Convoy to Match Carriers and Brokers

Flexport has expanded its Convoy Platform to connect brokers and carriers.With this artificial intelligence (AI)-powered marketplace, brokers can access thousands of carriers across the country, Flexport said in a Monday (June 3) press release.“With today’s launch, brokers using the Convoy Platform will be able to level up their operations and focus on strengthening core customer relationships and growing their businesses,” Bill Driegert, executive vice president and head of trucking at Flexport, said in the release.The Convoy Platform helps brokers efficiently partner with small carriers who have shifted to app-centric operations and load management, the release said.This capability solves a common pain point for brokers in a trucking market that includes about 30,000 brokers and 750,000 carriers, 90% of whom operate fewer than 10 trucks, the release said.The Convoy Platform also helps owner-operators book and manage freight to keep their trucks moving, per the release.“The U.S. trucking market has undergone a massive transformation since the pandemic,” Driegert said in the release. “Technology has empowered a new wave of small carriers who manage their business through their phone. We see a tremendous opportunity to connect that capacity to brokers, simplifying operations and lowering costs, while expanding opportunities for small carriers.”Flexport acquired the technology of Convoy, a trucking startup, in November after Convoy announced the closure of its business due to financial difficulties amid a decline in freight demand and a contraction in capital markets.With this acquisition, Flexport strengthened its position in the digital freight industry by enhancing its end-to-end logistics solutions and providing customers with a comprehensive and efficient freight management experience.In February, Flexport launched the Convoy Platform, saying it is designed to offer shippers and brokers near real-time visibility, exceptional on-time performance and competitive rates, allowing them to efficiently manage their capacity needs.PYMNTS Intelligence has found that logistics, shipping and transportation companies are investing in innovations to modernize their business and are prioritizing solutions that will improve their relationships with their vendors.For example, 83% of these companies said they plan to innovate their accounts payable (AP) systems to strengthen their B2B relationships, according to “Accounts Payable Automation: Transportation Companies Innovate to Drive Growth,” a PYMNTS Intelligence and Routable collaboration.For all PYMNTS B2B coverage, subscribe to the daily B2B Newsletter

Flexport Expands Trucking Marketplace To Connect Brokers, Carriers

The “platformization” of various business verticals promises to streamline online commerce. For example, digital freight platforms, such as Uber Freight, Convoy and Transfix, have transformed the traditional logistics and transportation industry. These platforms connect shippers with carriers using digital marketplaces, leveraging technology to optimize routes, reduce empty miles and streamline operations. There are consumer-facing platforms as well, such as Airbnb, which disrupted the traditional hotel and lodging sector

Payments Orchestration Can Give Platforms Competitive Advantage

Ikea sues Convoy over unpaid carriers

Digital freight network connecting carriers and shippers

Convoy

Digital freight network connecting carriers and shippers

Convoy

Digital freight network connecting carriers and shippers

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