The Logistics of Logistics Discussing the FreightTech 25 with Andrew Cox
Andrew Cox and Joe Lynch discuss the FreightTech 25, which is a list of 25 freight technology companies that have been recognized by FreightWaves as the most innovative. Andrew works at FreightWaves and manages the nomination and selection process for the FreightTech 25.
About Andrew Cox
Andrew Cox is the Retail Community Leader at FreightWaves. Andrew is also responsible for managing the FreightTech 25 nomination and selection process and is a co-host of the freight finance podcast, Great Quarter, Guys. Prior to his current role, Andrew was a research analyst in the Freight Intel Group at FreightWaves. Andrew earned a Bachelor's degree in both Economics and Entrepreneurship from the University of Tennessee at Chattanooga.
About FreightWavesFreightWaves is the leading freight intelligence provider, offering current digital intelligence and context to the freight community on a central platform. FreightWaves' SaaS product, SONAR, is the leading freight market analytics tool and dashboard, aggregating billions of data points from hundreds of sources to provide the fastest data in the transportation and logistics sector. FreightWaves.com, the company's news site, is the leading provider of news and commentary for the transportation and logistics space. FreightWaves also hosts conferences under Transparency and MarketWaves branding and is a co-developer of the first futures contracts dedicated to trucking spot rates.
Key Takeaways: The FreightTech 25- The FreightTech 25 is published every year in the 4th quarter and the companies awarded will hold the honor for the upcoming year.
- FreightWaves has developed a robust nomination and selection process. The rankings of the FreightTech Award are determined by a peer-group of CEOs, industry leaders, and investors that are actively investing in the freight industry.
- In the podcast interview, Andrew discussed some themes and trends he observed in the FreightTech 25
- Amazon, Project 44, and Convoy have appeared at the top of the list for the third year in a row.
- Autonomous vehicle companies fell off this year's list perhaps because the product development time makes it difficult to maintain momentum and media buzz.
- As companies get larger, there are diminishing returns on their innovations. In other words, larger companies need to continue/accelerate innovation to move the dial.
- Warehousing robotics companies were recognized on this year's list.
- Larger legacy transportation companies like C.H. Robison, J.B. Hunt, and FedEx made the list demonstrating that innovation isn't just for tech startups.
- Visibility companies like project44 and Fourkites are on the list as shippers and 3PLs continue to seek visibility solutions.