DAT Freight & Analytics has agreed to acquire the Convoy Platform from Flexport, adding best-in-class automation and digital freight-matching technology to its product portfolio.
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DAT to acquire the Convoy Platform from Flexport
The Convoy Platform provides freight brokers a powerful way to automate virtually every aspect of the freight transaction and connect with trusted trucking companies. It is an ideal complement to DAT One, DAT's flagship subscription-based load board, where nearly 700,000 loads are posted daily.
"The acquisition of Convoy demonstrates DAT's ongoing commitment to enhancing network value for our customers," said Jeff Clementz, DAT President and CEO. "Together, we will give customers a better, broader freight-matching network, the ability to manage more loads and capture incrementally more business, and ultimately more choice."
"We invested in the Convoy Platform because we saw its potential. In just 18 months, we improved the core technology platform, reengaged the market, and significantly increased its value. Importantly, we demonstrated a strong product-market fit by decoupling the platform from a brokerage," said Ryan Petersen, Founder and CEO of Flexport. "We look forward to a lasting relationship as a DAT customer. This sale is a win for the entire freight industry, a win for DAT, and a win for Flexport."
Flexport acquired the Convoy Platform and related intellectual property in October 2023 and launched the Convoy Platform as a freight-matching service for all brokers in April 2024, growing the platform with thousands of carriers. Flexport's vision and investment in building and scaling the Convoy Platform for the broader market, as a neutral digital marketplace, creates significant value for DAT and its customers.
Furthermore, this acquisition will enhance DAT's innovative team and technology by adding:
- Deep experience: The Convoy Platform's engineers, product experts, and operations professionals will continue to be led by Bill Driegert, who will join DAT's executive leadership team.
- Fraud prevention at scale: The Convoy Platform's proprietary technology uses machine learning and AI models to verify carriers on the network and block malicious actors. With these advanced security features built in, brokers can reduce their risk of fraud and access a trusted network of carrier capacity, all while increasing their efficiency and growing their business.
- Easy-to-use mobile experience: The Convoy Platform is recognized for high carrier satisfaction and usability. Today, nearly 30,000 carriers—primarily owner-operators and small trucking companies—use the app to find loads, manage paperwork, receive payments, and more.
- Fast, reliable payments: Every carrier on the Convoy Platform is eligible to get paid via QuickPay. It's easy to use and available on every load on the platform, providing another option for fast payouts to carriers.
DAT will ultimately integrate the Convoy Platform into its DAT One product. This will allow brokers to seamlessly access both automated and hands-on freight-matching options, and give carriers a faster, easier way to find quality loads from trusted brokers, supported by DAT's scale and reach.
For more information about the Convoy Platform, visit convoy.com/dat.
About DAT Freight & Analytics
DAT Freight & Analytics operates DAT One, North America's largest truckload freight marketplace; DAT iQ, the industry's leading freight data analytics service; Trucker Tools, the leader in load visibility; and Outgo, the freight financial services platform. Shippers, transportation brokers, carriers, news organizations, and industry analysts rely on DAT for market trends and data insights, informed by nearly 700,000 daily load posts and a database exceeding $1 trillion in freight market transactions.
Founded in 1978, DAT is a business unit of Roper Technologies (NASDAQ:ROP), a constituent of the Nasdaq 100, S&P 500, and Fortune 1000. Headquartered in Beaverton, Oregon, DAT continues to set the standard for innovation in the trucking and logistics industry. Visit dat.com for more information.
About Roper Technologies
Roper Technologies is a constituent of the Nasdaq 100, S&P 500, and Fortune 1000. Roper has a proven, long-term track record of compounding cash flow and shareholder value. The Company operates market leading businesses that design and develop vertical software and technology enabled products for a variety of defensible niche markets. Roper utilizes a disciplined, analytical, and process-driven approach to redeploy its excess capital toward high-quality acquisitions. Additional information about Roper is available on the Company's website at www.ropertech.com.
About Flexport
We believe trade can move the human race forward. That's why since our founding in 2013, it's our mission to make global commerce so easy there is more of it. Flexport is the tech-driven platform for global logistics—empowering buyers, sellers and their logistics partners with the technology and services to grow and innovate. Flexport was one of CNBC's Disruptor 50 Companies as well as one of Fast Company's Most Innovative Companies. Trusted by more than 10,000 brands, Flexport connects every step of the supply chain from factory floor to customer door—making it easy for businesses to ship anywhere, sell everywhere, and grow faster.
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Media contacts:
DAT Freight & Analytics
Georgia Jablon
Corporate Communications, DAT Freight & Analytics
[email protected]
904-305-6454
Flexport
[email protected]