Truckstop announced Tuesday it has acquired FreightFriend, a cloud-based capacity and freight management solution that matches shipments to carriers.
The acquisition gives Truckstop a technology platform for freight matching and building routing guides for shippers and brokers.
Truckstop will utilize FreightFriend’s technology to deliver solutions for in-network and out-of-network relationships in one centralized experience for brokers and carriers to manage and grow their networks, promote loads and trucks, receive intelligent matches and digitally book freight, company officials said.
“At Truckstop, we continue to invest in our industry-leading freight marketplace and compliance management offerings,” Kendra Tucker, Truckstop’s CEO, said in a news release. “With the acquisition of RMIS, and now the FreightFriend solution, we will further enable our customers to build and foster relationships that support the growth of their businesses.”
Terms of the transaction were not disclosed.
Chicago-based FreightFriend was founded in 2011. FreightFriend offerings include the Capacity Guru routing guide and Freight Guru intelligent freight matching.
Noam Frankel, founder and CEO of FreightFriend, said the company aims to help brokers and carriers manage relationships rather than just posting loads on public load boards.
“Relationships and trust are at the heart of moving freight efficiently, safely and profitably,” Frankel said in a statement. “We are thrilled to continue our mission of building trust and transparency in the freight market; the combination of the Truckstop and FreightFriend solutions will be a powerful tool for brokers and carriers alike to match freight, service their clients effectively and build a profitable business.”
Boise, Idaho-based Truckstop is one of the largest load board and freight marketplaces in the U.S., connecting carriers, brokers and shippers.
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Source: freightwaves - Truckstop acquires truckload procurement platform FreightFriend
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