Transflo is changing its management structure, with industry veterans Renee Krug joining the company as CEO and Bill Vitti as president and chief revenue officer.
Frank Adelman, Transflo CEO for the past eight years, will become chairman of the board. President Michael Southworth is departing less than 18 months after joining the supply chain technology solutions company to serve as CEO of AI-focused company Babel Street.
A spokesman for Transflo said a restructuring of the board involved Adelman becoming chairman.
Krug left GlobalTranz in September 2020 after six years at the 3PL. At the time, she was quoted as saying that she planned to spend time with family and “enjoy some outdoor trips before embarking upon my next adventure.”
Prior to GlobalTranz, Krug held supply chain positions with Swift Transportation and Honeywell.
“As a well-established multi-application platform with unparalleled data insights, Transflo is already positioned as the top player in the marketplace,” Krug said in the prepared statement released by the company. “As the industry leader with $115 billion in annual spend flowing through our network, it is impressive to see the double-digit growth of new customers coming into the platform.”
Vitti was at Truckstop.com until 2020, according to his LinkedIn profile. He remains an investor at Truckstop and has served on other boards since he departed his full-time position. Vitti previously served as president of Swift Logistics and was head of marketing and strategy for Swift Transportation.
Transflo recently took on a significant outside investment from private equity firm Bregal Sagemount, which joined earlier investors True Wind and Carousel Capital on the company’s “cap table.”
“The investment from Sagemount was a strategic and significant investment to provide capital that will accelerate our product road map, hire more top talent and invest in our future,” Adelman said in the prepared statement. “Renee and Bill are uniquely qualified to help lead us to more rapid growth, both organically and through strategic acquisitions.”
The size of the Sagemount stake was not disclosed when it was announced in December, except to note that it was a minority investment.
Ties with Truckstop.com and Transflo are also in place partly through Phil Yates, who is a partner at Bregal Sagemount and a former lead investor in Truckstop. “The company has the financial backing, talent and strategic road map to do something very special,” Yates said of Transflo in the statement. “This is an important period for Transflo, and we are eager to assist in the company’s next phase of growth.”
Transflo has a wide range of mobile and cloud-based technologies after initially making its mark in the digitization of paper documents. The company said its products serve “mobile, telematics, data, scanning and document management all in one integrated experience.”
Vitti said the Transflo platform “offers drivers, carriers, brokers and shippers a one-stop-shop platform to manage all of their needs with sophisticated mobile-based workflow, automation and end-to-end visibility tools.”