Newly formed Envase Technologies will take the intermodal container and drayage expertise of three long-time transportation management systems (TMS) and integrate them into one.
“We are building the next generation intermodal drayage TMS platform that will leverage the ‘best in class’ from each of these solutions,” Larry Cuddy, Envase’s newly appointed head, told FreightWaves.
The three TMS platforms that now make up Envase include Profit Tools, Compcare Services and GTG Technology Group, which were acquired by investment firm Firmament Group between 2018 and May 2020. Firmament Group did not disclose financial terms of these acquisitions.
Cuddy, who served as CEO of Profit Tools, said the acquisitions have few overlaps in technical expertise. GTG provides intermodal marketing solutions specifically targeted for intermodal marketing companies (IMCs), while Compcare offers IT tools to manage large drayage fleets. Profit Tools has the largest customer base with diverse specialties in domestic and import and has a large channel partnership program, along with a fuel discount program for drayage services providers.
Envase currently consists of about 75 staff from across the three former companies, with its headquarters in Dover, New Hampshire, and a West Coast office in Long Beach, California.
The company is currently developing a new dispatch operations module that continuously plans truck optimization. Another module automatically will track detention and delays involving intermodal container traffic. A new track-and-trace module will use the industry’s latest application programming interfaces (APIs). Envase is also developing new truck brokerage and street-turn modules.
“Envase Technologies is developing an intermodal ecosystem,” Cuddy said. “We are hyper-focused on the lifecycle of the container.”
He said the Envase will be made to co-exist with other TMS, warehouse management systems (WMS), and enterprise resource planning (ERP) systems in the supply chain.
Firmament Group said it remains committed to further investing in Envase. The company is “actively pursuing strategic acquisitions,” Cuddy said.
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