LoadExpress expands freight matching platform

The integrated freight matching and transportation execution platform that originally launched for carriers and shippers has expanded to include third-party logistics providers (3PLs) and brokers.    LoadExpress, an integrated freight matching and transportation execution platform, has expanded to include 3PLs and brokers, the company revealed this week.
   The San Diego-based startup allows 3PLs, carriers and shippers to tender loads, accept bids and execute the entire transaction in one single marketplace.
   For the past year, LoadExpress has been building up the shipper and carrier network, Ken Liu, vice president of business development and co-founder of LoadExpress said at the 3PL Value Creation Chicago Summit. The platform currently includes 150 shippers, along with 600 carriers and 8,000 trucks, and five 3PLs have already signed on so far, Liu told American Shipper Wednesday.
   3PLs can act as the shipper or on behalf of a carrier to cover and execute on a load, with shippers and carriers having the choice to deal with 3PLs or directly with one another.
   LoadExpress said it is targeting small-to-medium-sized 3PLs/brokers, which either do not have the scale or technology to effectively compete in the long run, or that want a more integrated, lower-cost system.
   The platform is free to join and use. “A 3PL user charges its margin when using LoadExpress, which adds its margin for that load. It makes money only when the 3PL makes money,” the company said.