FreightWaves, the leading data and content source for the freight markets, has acquired StakUp Inc. as part of a multi-faceted partnership with the Truckload Carriers Association (TCA) that will build on a previously announced data and marketing agreement established in November 2018.
StakUp is the developer of the ‘inGauge’ online benchmarking platform, used exclusively by the TCA Profitability Program (TPP) to compare and contrast financial and operational performance. As the exclusive software service provider for TPP, StakUp has built a significant database of carrier and brokerage profiles since its founding in April 2014 by former TCA Chairman Ray Haight and StakUp President Chris Henry.
Beginning June 1, Henry will have dual roles; he will continue as TPP Program Manager and will also serve as FreightWaves’ Vice President of Carrier Profitability. He will enhance the data and features offered through the FreightWaves SONAR freight intelligence platform, promoting SONAR features specifically for North American truckload carriers. Jack Porter will remain as TPP Managing Director, and will work closely with Henry to achieve growth targets, enhance group meeting content and strategic direction.
The new partnership between TCA and FreightWaves is expected to further fuel TCA’s membership growth and enhance active participants in the TCA Profitability Program. The outlined goal is to increase TPP participants to 2,000 by the end of 2025. In addition to the value of a larger pool of participants, especially for the curation of best practices and new initiatives, TCA and FreightWaves will emphasize the importance of increased technological sophistication of member companies.
In addition, FreightWaves and TCA will conduct research to improve the efficiency and profitability of North American trucking companies and their related supply chain partners. Quarterly research objectives will be established to leverage FreightWaves’ growing datasets and its data scientists. TCA’s Government Affairs team will work closely with FreightWaves staff to establish the research objectives.
Also, the two organizations have developed an incentive program, exclusively for TPP participants, to use the FreightWaves SONAR platform free for six months (limit of one SONAR seat per member, non-API access), commencing June 1, and ending on November 30, 2019. Carriers joining TPP after June 1 will receive access to SONAR beginning on their join date, and ending on November 30, 2019. Current TPP participants are strongly encouraged to activate their trial in order to maximize their evaluation period before the November 30 deadline.
“Having previously established a close working relationship with TCA, this acquisition and partnership was the logical extension to build on each other’s strengths,” stated FreightWaves’ Founder and CEO Craig Fuller. “TCA has established the premier benchmarking and knowledge-sharing platform in trucking. Our goal is to add features, services and data to enhance the value for current and future TPP participants. If you are a truckload carrier, this service is a no-brainer.”
“FreightWaves has carved out a unique position in the North American transportation industry as the data and content provider of choice,” said TCA Chairman Josh Kaburick, CEO of Trekker Group of Companies. “The TCA Profitability Program is an exceptionally valuable service for participating carriers. Just like any other business, it is imperative that TPP stays relevant, and expands its services available to carriers of all sizes.”