CHATTANOOGA, Tenn. – FreightWaves announced its fifth annual FreightTech 25 honorees on the third and final day of the F3: Future of Freight Festival.
The 2023 list featured a mix of award-winning mainstays and brand new names. Numbers 1 through 7 have all received their fifth consecutive award – meaning they’ve found their way to the FreightTech 25 every year since 2018, when the series was founded. In the meantime, 10 more have ranked for the first time.
FreightWaves Founder and CEO Craig Fuller presented the awards Thursday morning along with the company’s Chief Meteorologist, Kaylee Nix. To begin, Fuller looked back at the early days of the FreightTech line.
“You remember, when we started doing this in 2018, companies like FourKites and project44 were much smaller, and we’ve seen them actually rise to the top of the leaderboard over the past few years,” Fuller said.
In fact, global viewability provider project44 landed at number one this year and has never been lower than number 2. Last year, the company ousted Amazon Freight from the number 1 position after finishing second from 2019-21. Amazon Freight took sixth place this year.
The companies honored in the FreightTech 25 are recognized as the most innovative and disruptive in the field of freight technology. They are selected each year from the FreightTech 100 by a handpicked group of CEOs, industry leaders and investors who are actively investing in freight (Click here for the list of voters).
The methodology used to determine the FreightTech 25 is a simple scoring system based on how each voter ranks the most innovative and/or disruptive companies in the industry. For each first vote a company gets 25 points, for the second 24 points and so on up to the 25th company that gets one point. The ranking is determined by listing each company’s total score from highest to lowest.
The mathematical formula is the same as that used for the USA Today Sports College Football Coaches poll, The Associated Press Pro32 rankings and the AP Top 25 rankings for men’s and women’s collegiate basketball.
Watch: Announcement 2023 FreightTech 25
3 things to know about No. 1 project44 should know
1. Jett McCandless, the founder and CEO of project44He said he was “smiling from ear to ear” after hearing the results. McCandless said it was a testament to his team’s ability to efficiently allocate capital to build a supply chain connective tissue. “We’re only one percent of our target,” he said.
2. During the first three years of FreightTech 25, the company took second place behind Amazon/Amazon Freight. Project44 ousted Amazon Freight for the first time in the FreightTech 25 2022 and ranked #1 again this year. “There are a lot of great companies to compete with on this list,” McCandless said. “We will simply continue to create value for our customers. I think the judges will respond to that.”
3. Project44 was #1 Visibility company for every five years.
2023 Freight Tech 25
Here is the list of the 2023 FreightTech 25 companies ranked by voting results. (Company descriptions come from Crunchbase, among others.)
Provider of an advanced supply chain visibility platform for carriers and external logistics companies.
2. Platform Science
An enterprise-class IoT fleet management platform for the new era of connected trucks, freight and the digital supply chain.
A full-service global freight forwarding and logistics platform that uses modern software to enhance the user experience in global trade.
The nation’s most efficient digital freight network.
5. Four dragons
A supply chain visibility platform designed for shipment to shipyards, warehouses and stores.
6. Amazon Freight
Combines advanced technology with a network of 30,000+ Amazon trailers and carriers to haul full truckloads.
7. JB hunt
Logistics management services and integrated transport solutions for large companies.
Web-based truckload management system that connects carriers and their partners in executing full truckload transactions.
9. Kodiak Robotics
Developer of autonomous technology for long-distance transport.
10. MyCarrier TMS
A SaaS transportation management platform that enables SMB companies to manage their freight needs directly with their carriers.
11. Blue Over There
The leading provider of cloud-based retail forecasting applications.
Connected Operations Cloud pioneer.
13. Arrival Logistics
A technology-enabled truckload logistics company.
14. Ryder system
A supply chain, specialty transportation and commercial fleet management solutions company.
15. About Freight
Logistics platform and partners reshaping global logistics for carriers and carriers of all sizes.
A payment processing platform for the transportation and supply chain industry.
Technology developer for autonomous light and medium-duty trucks for B2B short-haul logistics.
Develops a hardware and software platform to track shipping conditions.
19. Locus Robotics
A warehouse robotics company that manufactures autonomous mobile robots to support e-commerce.
Offers a broad portfolio of transportation, e-commerce and business services to customers and businesses worldwide.
21. Lean solutions
A nearshore service provider focused on expanding and improving business.
A financial platform that offers intelligent financial products, operational tools and time-saving automation.
23. Echo Global Logistics
A technology-enabled BPO service provider that meets its clients’ transportation and logistics needs.
A family of brands offering end-to-end solutions for different links in the supply chain.
25. Herd Freight
Uses algorithmic pooling technology to allow shippers with less than a truckload to share trailer space in a full truckload.