Flexport, a San Francisco, CA-based modern freight forwarder, acquired Crux Systems, an advanced technology solution for tracking ocean containers.
The amount of the deal was not disclosed.
Founded in 2014 by CEO Eric Klein and COO Jennifer Colvin, Crux Systems allows importers, exporters, port terminals and trucking companies to gain real-time visibility into the location and status of containerized cargo. Its shipment data informs supply chain planning by driving actionable insights that can reduce dwell times, demurrage fees, and hours spent tracking containers.
The acquisition of Crux Systems will allow Flexport to incorporate the company’s track and trace technology into Flexport’s platform, which is used by nearly 10,000 shippers and suppliers. Clients will get more accurate timely visibility into their shipments, including cargo location, time stamps, and completion of major delivery milestones.
Led by Ryan Petersen, CEO, Flexport allows companies to move, finance and make decisions about freight – all on one digital platform powered by a combination of technology, logistics infrastructure and expertise.
Today, the platform connects almost 10,000 clients and suppliers across 109 countries, including established global brands as well as emerging innovators. Flexport offers a full range of services, including ocean, air, truck and rail freight, drayage and cartage, warehousing, customs and trade advisory, financing, and insurance.
FinSMEs
14/10/2019