California-based logistics tech firm Flexport Inc. revived digital freight broker Convoy on February 22, 2024, following its closure in the fall of the previous year.
What's happening: Flexport acquired the technology and intellectual property of Convoy in November 2023 after the Seattle-based company ceased operations, citing a sharp downturn in the freight market.
- Convoy's relaunch aims to grant small carriers access to a worldwide network of shippers and brokers.
- The integrated Convoy Platform is designed to streamline freight bookings, with features like 24/7 load board access and expedited payment options for carriers.
Flexport's vision: "We're able to bring together every party in global logistics with one common mission: make global commerce so easy there's more of it," said Ryan Petersen, Flexport CEO.
On-the-ground sentiment: Carriers like Jeffery Swansey of SJS Transport voiced relief at the platform's return, praising its efficiency and driver-friendly tools.
Looking ahead: Flexport plans to expand the Convoy Platform's offerings for brokers in the second quarter of 2024, promising high-quality capacity backed by sophisticated fraud detection and performance scoring technologies.