Freightos

Freightos Ltd
Freightos
Private
Traded as Required
Industry Logistics
Founded January 1, 2012
Founder Zvi Schreiber, CEO
Headquarters Hong Kong
Products Freightos Marketplace, Freightos AcceleRate, Freightos WebCargoNet
Website www.freightos.com

Freightos is creating an online international freight marketplace,[1] using a SaaS-Enabled Marketplace model.[2] The SaaS component, called AcceleRate, provides logistics companies with freight rate management and instant freight quoting.[3]

The online freight marketplace, which launched in July 2016, enables online quoting booking of freight quotes, as well as shipment management.[4]

History

Freightos was founded in January 2012 by Zvi Schreiber. Schreiber has previously founded and managed other start-up companies including companies acquired by IBM and GE. The first beta customers of Freightos went live in October 2012 and the SaaS service was commercially launched in March 2013. Freightos raised initial funding from OurCrowd.[5] Freightos is the trading name of Tradeos Limited, a Hong Kong company. Freightos is member of Airforwarders Association since January 2013.[6]

In August 2016, Freightos bought Spanish startup WebCargoNet.[7]

In March 2017, Freightos raised $25 million in Series B funding led by GE Ventures bringing the company's total funding to $50 million.

Main features

Freightos provides features for uploading freight pricing contracts in Excel, a database for freight rates, and a module for automatic freight and quotations on the Web. The quotation algorithm includes routing of door-to-door freight services.[8] The Freightos Network supports exchanging quote requests and quotes between freight forwarders and their agents.

On July 26, 2016, Freightos launched the world’s first online marketplace for international freight (SimpliShip was the first),[9] providing instant comparison, booking, and management of freight services from multiple logistics providers.[10][11]

Competitors

For managing contracts, Freightos competes with CON-LINQ, Freightalia, Catapult, TradeTech, CargoSphere, Cargoguide and 7lFreight. The Freightos Marketplace competes with FreightNet & SimpliShip. For sharing rates between freight forwarders, Freightos competes with Freightalia. Freightera Vancouver, BC [12]

See also

References

  1. ↑ Magee, Christine. "With A Fresh $14M, Freightos Wants To Power The Global Freight Industry". TechCrunch. Retrieved 2016-08-01.
  2. ↑ "How SaaS is bringing B2B marketplaces back". VentureBeat. Retrieved 2016-08-01.
  3. ↑ "Hellmann completes Freightos AcceleRate rollout - Asia Cargo News". www.asiacargonews.com. Retrieved 2016-08-01.
  4. ↑ "Freightos aims to make shipping easier, cheaper". Retrieved 2016-08-01.
  5. ↑ Abel, Shira (June 2013). "FreightOS: Bringing sexy back to the freight industry". TheNextWeb
  6. ↑ Airforwarders Association Member, January 2013
  7. ↑ Phillips, Erica E. (2016-08-31). "Freightos Buys Air-Cargo Rival to Boost Online Marketplace". Wall Street Journal. ISSN 0099-9660. Retrieved 2016-09-08.
  8. ↑ American Journal of Transportation, 5 April 2013
  9. ↑ "SimpliShip". American Shipper.
  10. ↑ "Introducing the Freightos Marketplace - Freightos". Freightos. 2016-07-26. Retrieved 2016-07-28.
  11. ↑ |Wednesday, Eric Johnson; 27, July; 2016. "Freightos launches freight rate marketplace". American Shipper. Retrieved 2016-07-28.
  12. ↑ Bizzo https://www.equities.com/news/big-disruption-in-the-freight-industry-on-the-way
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