Lumper payments can tie up cash for weeks as carriers wait for reimbursement, but Convoy is now automating the process, guaranteeing payment with the touch of a button.
Less than a year after automating the load-matching process, Convoy is now automating the brokerage side in select markets.
Ben Thrower writes that venture capital funds continue to flow to digital freight brokerages, but legacy companies continue to fight back.
Founded by Dan Lewis, CEO, and Grant Goodale, CTO, in 2015, Convoy has closed a $400 million Series D round of funding, bringing total funding to $668 million to date and valuing the company at $2.75 billion.
Convoy is now offering direct-from-shipper loads on its platform, giving carriers many more choices for hauling freight.
Executives from Parade, CoLane, Forager, and Trucker Tools discussed the current state and future of brokerage digitization.
Convoy has rolled out a free transportation management system for shippers. Also, USPS is interested in drone operators, Rivian wants people to subscribe to its trucks, and Virgin Atlantic pushes for more air cargo marketshare in London.
Shippers, TMS and MTP providers have now been given access to Convoy’s automated real-time pricing and capacity for both live and drop-and-hook loads through API and a suite of developer tools called Convoy Now.
FreightTech venture investing is super hot, but most of these startups continue to lose money. Is this a fad or something else? Last year, FreightWaves created a FreightTech Venture Index to track the venture capital (VC) investing in FreightTech startups. The term FreightTech is defined loosely as software companies and other technologies that aid in […]
A lot of things have to go right for DFBs to build a market large enough to justify their valuations.
Convoy says a study of its data shows that carriers in its network are safer than industry averages and have fewer cargo claims than the average carrier.
From their Seattle headquarters, the executive team talks operations, startup culture and the enduring importance of the human factor.
Package surge from Amazon’s annual sales blitz overwhelms workplaces as more people get deliveries at their offices.
Consumer goods company has created rest areas for truckers and adopted digital freight matching.
With IMO2020 just around the corner, FreightWaves Radio this weekend takes a look at how it might impact fuel markets. J. Scott Susich, the director of data analytics and advisory services at DTN, joined co-host John Kingston on SiriusXM Road Dog Trucking for a discussion on how the regulation designed to reduce the amount of […]
Eliminating delays is source of pride for the beef processor and retailer
Several years ago Smithfield Foods, the world’s largest pork processor, initiated a plan to overhaul its logistics network, which at the time included a fleet of nearly 6,500 third-party trucks traveling more than three million miles weekly. The changes included ramping up direct shipping to customers; optimizing its dedicated fleet and increasing use of newer, […]
Convoy’s Automated Reloads feature allows carriers to book loads from a pre-planned combination of loads designed to minimize empty miles.
Ease of doing business ranked high with drivers serving over 40 facilities.
Global shipping and logistics giant UPS said it collaborates directly with its customers to reduce wait times at docks to increase efficiency and productivity and reduce detention time for its drivers.
