Announces Third Quarter 2021 Year-Over-Year Revenue Growth of 114%
Loadsmart, a leading freight technology company, announced the acquisitions of Kamion, an intelligent trucking management system, and Opendock, a company that offers warehouse dock scheduling software.
Connecting Opendock’s dock visibility and Kamion’s carrier network with the Loadsmart platform is one step closer to removing the barriers between shippers and carriers so freight can move in the most efficient, transparent and automated way. These new solutions cement Loadsmart as the market leader in freight optimization. Through close customer partnerships, Loadsmart engineers and industry experts are designing solutions to solve deep-rooted inefficiencies in transportation.
“By bringing carriers, shippers and warehouses together, we see the potential to solve the most pressing issues in the supply chain today,” said Felipe Capella, co-CEO and co-founder of Loadsmart. “Ultimately, our goal is to increase efficiency and reduce friction across the logistics ecosystem.”
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Enabling Carriers to Move More With Less
Loadsmart purchased Kamion to help carriers increase efficiency and profitability by reducing empty miles and enabling better, more informed decision-making. Fleets adopting Kamion also benefit from intelligent dispatching, driver management, general accounting and integrations with QuickBooks and the major ELD providers – a one-stop platform where carriers can manage their whole business and operational needs.
Kamion’s capacity insights when coupled with the Loadsmart platform give customers unprecedented transparency for the optimization of freight. “We are designing a solution that allows carriers to provide spot and contract rates directly into a shipper’s TMS,” said Giovanni Battistella, Loadsmart’s VP of product. “Similarly, shippers and brokers who move loads with Kamion carriers will be digitally connected to Kamion’s carrier network. Everyone benefits.”
In its commitment to provide rate transparency while encouraging participation among other brokers, the company plans to shift to an 8% fixed margin on all Loadsmart loads booked through Kamion. As an added value, Kamion carriers will be invited to participate in exclusive shipper RFPs.
Improving Shipper Visibility; Reducing Carrier Wait Times
To further connect carriers, shippers and warehouses, Loadsmart also recently acquired Opendock, the leading warehouse scheduling software. Opendock assists in appointment scheduling to cut down on costly wait times while reducing inefficient backhauls. Opendock currently serves over 2,000 warehouses in the U.S. with 600,000+ appointments scheduled every month.
“With the combined resources of Loadsmart, Opendock can further help carriers reduce both wait times and empty miles by matching inbound and outbound capacity at a single warehouse as well as improving efficiency by changing dock appointments in real-time to match driver arrival time,” said Jeff Booth, general manager for Opendock.
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Technology Adoption Continues to Fuel Growth
Loadsmart continues to combine new technology with deep industry expertise to fundamentally change how freight is priced, booked and shipped. As a result, Loadsmart reported 114% third quarter 2021 year-over-year revenue growth, driven by a continued widespread technology adoption by shippers and carriers.
“Our third quarter results represent a significant step towards our long-standing vision to break down the barriers between shippers and carriers,” Capella said. “We do not believe in imposing off-the-shelf solutions to market players. To the contrary, we partner with both shippers and carriers so that, together, we can design and build the best solutions. Our third quarter results demonstrate that this strategy is adding significant value to our customers.”
Earlier this month, Loadsmart announced Flatbed Messenger, a flatbed marketplace launched in partnership with The Home Depot, and a new 35,000-square-foot headquarters in Chicago–signaling rapid growth.
