Convoy is a digital freight network App started by Dan Lewis in 2015. Convoy reduces overall costs for shippers, providing asset-like reliability and performance. Convoy enhances efficiency by providing open access to real-time data insights that allow shippers to enhance their operations.
Convoy also maximizes income for carriers by keeping their trucks fully loaded on the roads and provides them with flexibility to run without much hassle.
Convoy has helped to eliminate 72 Million Metric Tons of Carbon Emissions. Prior to starting Convoy, Lewis used to work for Amazon, Google and Microsoft.
Convoy’s CEO and Co-founder Dan Lewis says “I’d had some really bad ideas”. “This one, every time I shared it with someone from the industry, they were excited about it and felt like it was necessary.”
Lewis used to visit shippers and truck stops in order to learn about the industry and to generate feedback on Convoy’s business plan. He remembered going to the shipper’s office for the first time, so anxious that all he could do was ask to use the toilet.
But Lewis noticed the industry needs lot of changes when he spoke with drivers and shippers about his ideas. And this is how He perfected Convoy in to becoming a great App as we see it today.
But within 4 years, Convoy is one of Washington’s top unicorns, valued at more than $1 billion. Convoy is funded by high-profile investors such as Jeff Bezos, Reid Hoffman, Bill Gates and U2’s Bono. Convoy’s competitors are C.H. Robinson, the largest freight broker in USA.
Convoy also competes with Uber Freight, a relatively new entrant in the market.
Convoy claims that its latest milestone in automated pricing will help it work more effectively and will result in lower prices for shippers and trucks for carriers. The technical breakthrough comes just one month after Convoy ‘s new $400 million funding round at a valuation of $2.7 billion.
“We’ve been working for the past four years on improving our pricing models. And as we’ve been building more and more density we have more and more data for us to train our models” said Ziad Ismail, Chief Product Officer of Convoy. “We’ve also gotten more drivers to use our app. The combination of those two things have led us to 100-percent automated pricing in Convoy’s top markets.”
By using Convoy, Truckers gain more as they have more loading options, better routes, and less “empty mile” journeys. Convoy aims to maximize capacity and minimize costs for shippers with more truckers on its platform. Automated brokering provides added advantages to both sides of the marketplace.
Convoy has become the most powerful digital freight network App, using machine learning and automation to link shippers and carriers to transfer millions of truckloads, saving shipper money, growing carrier earnings, and reducing carbon waste as well.
