Flexport has recently launched the Convoy Platform, nearly four months after acquiring the technology and intellectual property of the now-defunct digital truck brokerage, Convoy. The platform is designed to provide small carriers with access to freight, while offering shippers and brokers real-time competitive rates, shipment visibility, and on-time performance. Flexport CEO Ryan Petersen highlighted the launch as a step towards their goal of creating a comprehensive one-stop-shop for global shipping.
Following the acquisition, some Convoy employees joined Flexport, but the company did not inherit Convoy as a whole or its liabilities. The terms of the acquisition remain undisclosed. The Convoy Platform will offer Flexport customers more options for full truckload carriers, tapping into Convoy’s extensive network of over 400,000 truck drivers and 80,000 carriers.
In the future, Flexport plans to expand Convoy’s offerings for brokers, introducing capacity backed by fraud detection technology and automated predictive performance scoring. This strategic move aims to enhance collaboration and transparency in the freight ecosystem. Carriers using the Convoy Platform can now easily find and book loads, access a 24/7 load board, manage paperwork, and track their fleet through the app.
Overall, Flexport’s integration of Convoy’s technology signifies a step towards revolutionizing global logistics through innovative solutions and collaboration within the industry.
