Freight Consolidation Candidates:
XPO, a logistics company with a digital freight marketplace called XPO Connect, has more than 14,000 carriers registered. The number of digital bids submitted by drivers seeking loads doubled in the fourth quarter 2019 compared with the third quarter 2019.
Uber Freight, a subsidiary of Uber, has expanded its network to 30,000 carriers. The company’s platform is designed primarily for owner-operators and small fleets operating 10 or fewer trucks.
Convoy, a smart freight company, tracks the percentage of loads that are automatically matched as a way of measuring its progress. In February, the company said it achieved a 100% match rate for a number of key freight markets, including Seattle, Portland, Los Angeles, Chicago, New York, and Atlanta. Nationwide, the match rate was 95%, compared with 25% when the company started in 2016.
Transfix, launched in 2013, has received $78.5 million in venture capital and claims to be working with Anheuser-Busch, Unilever and Target to procure freight hauling capacity through an automated network.