During Thursday’s final day of the F3 Virtual Experience, FreightWaves unveiled the list of companies selected for the 2022 FreightTech 25 in partnership with RyderVentures.
These are the top 25 companies considered “the most transformative and innovative companies in FreightTech,” said FreightWaves CEO and founder Craig Fuller.
The 25 companies were determined by the hand-picked peer group of CEOs, industry leaders and investors actively investing in freight (click here for list of voters). The companies were among the FreightTech 100 companies previously determined by a panel chosen by FreightWaves.
The methodology used to determine the FreightTech 25 is a simple points system based on how each voter ranks the industry’s most innovative and/or disruptive companies. A company receives 25 points for each first place vote, 24 for second and so on through to the 25th company, which receives one point. The rankings are set by listing each company’s point totals from highest to lowest.
The mathematical formula is the same as the one used for the Amway College Football Coaches Poll, the AP Pro32 rankings and the AP Top 25 rankings for men’s and women’s college basketball.
Watch: 2022 FreightTech 25 announcement
4 things you should know about No. 1 project44
1. Jett McCandless, the founder and CEO of project44, also founded another one of this year’s FreightTech 25 companies — No. 25 CarrierDirect. That’s the first time in the four-year history of FreightTech 25 that has happened.
2. In the previous three years of FreightTech 25, project44 had finished second to Amazon/Amazon Freight. This year, Amazon Freight finished third.
3. Project44 has been the No. 1 visibility company for all four years.
4. Eleven companies on the FreightTech list are customers of project44 — an indication that this year’s No. 1 is an accelerator for innovative brands.
2022 FreightTech 25
Here is the list of the 2022 FreightTech 25 companies, ranked according to voter results. (Company descriptions are from Crunchbase, among other sources.)
Provider of an advanced supply chain visibility platform for shippers and third-party logistics firms.
2. Platform Science
An enterprise grade IoT fleet management platform for the new era of connected trucks, freight and the digital supply chain.
3. Amazon Freight
Blends advanced technology with a network of 30,000-plus Amazon trailers and carriers to move full truckload freight.
A tech-enabled hub and spoke network of drop zones and local drivers that eliminates last-mile inefficiency in long haul trucking.
A supply chain visibility platform designed for transportation into yards, warehouses and stores.
The nation’s most efficient digital freight network.
A full-service global freight forwarder and logistics platform using modern software to fix the user experience in global trade.
Web-based truckload management system that connects shippers and their partners when executing full truckload transactions.
An artificial intelligence-powered hardware and software company that serves businesses powering the physical economy.
Specializes in developing a full range of electric vehicles.
11. J.B. Hunt
A logistics management services and integrated transportation solutions to major corporations.
A payment processing platform dedicated to the transportation and supply chain industries.
Provides cloud supply chain services to brands who seek visibility and control over their inventory.
14. C.H. Robinson
Helps companies simplify their global supply chains and understand their landed costs.
Pioneer of the Connected Operations Cloud.
Logistics technology platform that enables shippers, carriers and brokers to efficiently manage an automated supply chain.
17. Uber Freight
Logistics and supply chain management firm that provides a mobile application that helps truck drivers connect with shipping companies.
A family of brands that provides end-to-end solutions throughout various links in the supply chain.
Improves transportation by developing self-driving technology developed in Google’s labs.
Self-driving truck company developing technology that allows them to drive from depot-to-depot without human intervention.
21. Flock Freight
Uses algorithmic pooling technology to allow less-than-truckload shippers to share trailer space in one full truckload.
Contract logistics partner that develops web-based solutions for companies of all types.
Provides mobile driving solutions to the transportation industry in North America.
24. Embark Trucks
Building self-driving truck technology that specializes in freight and logistic services.
Started solving problems as the intermediary for regional LTL carriers and large 3PLs.
Reaction to making the FreightTech 25 list
Quotes from various executives upon learning about their company’s inclusion:
JETT McCANDLESS, CEO, project44 (1): “To be leading the FreightTech 100, in which we’re joined by more than three dozen project44 customers and partners, showcases project44’s influence as a global leader in visibility. The supply chain industry faced tremendous challenges throughout this year but we’re eager to share our innovative ideas as we continue our focus on global growth, product expansion and strategic development. This accolade indicates we’re heading in the right direction.”
TIM BERTRAND, president-worldwide field operations, project44 (1): “We’re humbled to join 11 project44 customers on the FreightTech 25 list, demonstrating project44’s collective influence in the space. And as innovations and disruptions are paramount to this industry, so is collaboration. We look forward to collaborating with other disruptors that will drive project44’s growth and unparalleled success within our supply chains.”
ANDREW LETO, founder, Emerge (8): “We’re incredibly proud to be recognized for moving the needle in terms of logistics technology. To be a part of such a prestigious group for the past three years affirms the passion and vision we place behind our platform. The next few years should be an exciting time in our industry, as we and many others continue to transform and innovate within the technology space.”
PETER RENTSCHLER, CEO, CarrierDirect (25): “Making the top 25 is a testament to our team, our customers and our partners. We help some of the other top 100 and 25 winners do amazing things in FreightTech, and so our success is built on top of theirs. Congratulations to project44, J.B. Hunt and Redwood Logistics on making the top 25 as well. We wouldn’t be here without you.”
Here’s how this year’s FreightTech 25 companies have ranked in the four-year history of the award.