Kleinschmidt takes equity position in meshVI

Integrations solutions provider Kleinschmidt announced Thursday it has partnered with insurance technology vendor meshVI, enabling Kleinschmidt to expand its logistics services. As part of the partnership, the integrations company has also taken an undisclosed equity position in meshVI.

“The partnership is more than the investment for us at meshVI. We look forward to leveraging the technology expertise of Kleinschmidt. They are known for building essential B2B data connections, and we are meshing insurance data and processes; this is one of many reasons this is an excellent partnership,” said meshVI CEO Andy Sharpe in the release.

MeshVI’s was founded in 2018, when the company, formerly known as Transharpe, created its flagship product Fleet Vehicle & Insurance Management System, or FleetVIMS, a software-as-a-service product for transportation insurance agencies.

In May, the company rebranded itself as meshVI, stating on its website that “just as a mesh interconnects and strengthens, meshVI does the same — uniting the intricate threads of insurance information and data into one powerful, intelligent platform. The ‘VI’ in our name, standing for verified insurance, underscores our pledge to empower the transportation insurance industry with reliable data and advanced technology to simplify insurance processes, mitigate risks, deliver confidence, and drive operational excellence.”

Partnering with Kleinschmidt lets meshVI enhance its service offerings and technology infrastructure while allowing Kleinschmidt to broaden its investments in its primary market.

“Initially the collaboration will focus on combining our experience and expertise as each company individually innovates,” Dan Heinen, CEO of Kleinschmidt, told FreightWaves. “In the future, we will look at ways our data intersects in a meaningful way with the industry. One example is meshVI’s live certificates of insurance that will soon be available for shippers and freight brokers. This will add value to the supply chain as a whole, including load boards and TMS systems, especially concerning fraud prevention.”

According to Heinen, Kleinschmidt looks forward to helping meshVI build out its future technology stack and will provide application programming interface support along with system integration services for future products.

“MeshVI will certainly need integration services to connect carriers, insurers, agencies and wholesalers. Kleinschmidt will be able to provide those seamless integrations in the same way we do for trucking, retail warehousing and the railroad industry. … This relationship certainly will benefit from our expertise,” said Heinen.

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Source: freightwaves - Kleinschmidt takes equity position in meshVI
Editor: Grace Sharkey