Freight forwarder Flexport acquired a startup that develops technology for tracking containerized goods.
Burlingame, California-based Crux Systems said its technology “informs supply chain planning by driving actionable insights that can reduce dwell times, demurrage fees and hours spent tracking containers.”
Crux’s technology will be incorporated into Flexport’s to incorporate the company’s track-and-trace technology into Flexport’s platform, which is used by nearly 10,000 shippers and suppliers. Clients will get more accurate, more timely visibility into their shipments, including cargo location, time stamps and completion of major delivery milestones.
Crux provides real-time location and status through automating the process for container tracking, which is still mostly done through manual lookups on terminal websites and via email. It also develops application programming interfaces (APIs), which allow for easier integration of that data with transportation management systems and other back-office software.
Flexport similarly developed APIs for shippers to track container shipments, customs status and port information.
“When we founded Crux Systems, we saw an opportunity to improve global logistics by solving the difficulties of accessing container information and getting real-time visibility into what’s happening with your shipments,” Chief Executive Officer Eric Klein said in a statement. “Joining Flexport enables us to leverage expertise, infrastructure and technology to further build out a world-changing track-and-trace service.”
Terms of the acquisition were not disclosed.
Founded in 2014 by Klein and Chief Operating Officer Jennifer Colvin, Crux has approximately 15 employees listed on LinkedIn. It was originally funded with a $200,000 angel investment, according to PitchBook.
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