Emerge has built a name for itself by digitizing the freight procurement process and revolutionizing RFPs. Emerge CFO Brad Blomstrom recently appeared on Freightwaves’ Great Quarter, Guys to discuss what the company has to offer shippers and carriers alike. His appearance came on the back of Emerge’s most recent Series B funding round, announced Sept. 23.
Freight is attracting record levels of investment right now, and Emerge’s dedication to making the industry more flexible and efficient through digitization has drawn attention.
“The process of handling procurement for any major shipper is still in the early innings of digitization,” Blomstrom said. “Our value prop for shippers is twofold: Streamline procurement and gain access to better rates. For carriers, it is about democratizing access to freight.”
For shippers, Emerge offers both spot and contract management via its digital platform. Shippers utilizing the platform for contract management gain access to spot protection and dynamic RFPs in the form of mini bids. Mini bids allow shippers to lock in short-term rates without committing to an annual contract, an ideal option for peak season, project management and gaining general flexibility in a changeable market.
For carriers, Emerge offers direct access to high-quality freight. Carriers within the company’s network can bid on exclusive contracts and spot lanes they may not have had access to before. This increased access helps even the playing field among carriers.
The Scottsdale, Arizona-based digital freight marketplace announced last month that it has closed a $130 million Series B funding round led by 9Yards Capital, Tiger Global Management and The Spruce House Partnership. Existing investors New Road Capital Partners and Greycroft also participated in the round.