Truckstop announces acquisition of FreightFriend

Boise, Idaho-based Truckstop, a load board and provider of spot market freight matching services, recently announced it acquired Chicago-based FreightFriend, a cloud-based truckload procurement solution that harnesses the power of AI to find capacity and match freight.

A purchase price was not disclosed.

FreightFriend’s software offerings include a carrier relationship management (CRM) platform, freight matching and a relationship-based marketplace, and predictive new carrier discovery.

Truckstop said that bringing FreightFriend into the fold extends its leadership in matching high-quality freight with high-quality carriers. And it added that the FreightFriend platform is industry-leading technology that enables carriers and brokers to manage their business relationships, reduce friction and improve outcomes of freight matching activities.

“At Truckstop, we continue to invest in our industry-leading freight marketplace and compliance management offerings. Our solutions reduce friction and increase trust in the market while driving greater efficiencies and higher profits for both brokers and carriers,” said Kendra Tucker, chief executive officer, Truckstop, in a statement. “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.”

A Truckstop spokesman told LM that there were various drivers for this acquisition, adding that as it works closely and continually with its core customer segments of carriers and brokers, the need for trust, transparency, relationships, and consistency are ongoing themes.

The spokesman explained that as Truckstop learned more about the FreightFriend solution, it found it was the perfect match to provide technology in various ways, including:

• carriers that help them build and manage relationships that result in consistent freight and a predictable business;
• brokers that help them automate and centralize freight matching efforts throughout the waterfall tendering process and build and manage carrier relationships that drive profitability; and
• with FreightFriend, only Truckstop can help brokers and carriers maximize and grow core customer relationships that drives predictability and efficiency while accessing the highest quality and most trusted public freight marketplace 

“Together, Truckstop and FreightFriend deliver a breakthrough capacity management solution in which freight partners (brokers & carriers) can build, manage, and monitor transparent relationships and expand their networks of trusted partners,” the spokesman said. “FreightFriend furthers Truckstop’s investment in intelligent freight matching that benefits carriers and brokers. FreightFriend leverages unique real-time data to identify freight matches that can be quoted and booked digitally, reducing the friction that occurs in the freight-matching process.

In one centralized experience, brokers and carriers can view and compare their private networks against the public spot market to find ideal, low-friction, and high-quality matches. The complementary technology of Truckstop and FreightFriend reduces common obstacles to finding capacity and loads maximize core customer relationships and new capacity and load sourcing efforts for brokers and carriers for more successful freight matching.”

Going forward, Truckstop will continue to serve FreightFriend customers while integrating data, functionality, and user experience in high value and strategic ways that improve the outcomes that drive profitability for brokers and carriers, according to the spokesman.

And he added that FreightFriend empowers brokers and carriers to build and nurture mutually beneficial long-term relationships and levels the playing field so brokers and carriers of all sizes can compete for high-quality, profitable freight.

Equipped with FreightFriend and Truckstop, brokers and carriers can harness the power of AI, in multiple ways, Truckstop said.

For brokers, this pairing enables them to: manage carrier relationships and maximize their core-capacity network; strategically grow their carrier network with verified, relevant carriers; digitally book and match loads to relevant in and out of network capacity.

And for carriers, Truckstop said it enables them to: develop, grow, and manage their relationships—maximizing their opportunity for consistent freight; access freight-sourcing tools in a centralized experience that saves time and enhances network visibility; and receive proprietary load and broker matches and requests for bids for long-term consistent freight.

“Relationships and trust are at the heart of moving freight efficiently, safely and profitably,” said Noam Frankel, founder and chief executive officer, FreightFriend, 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.”