Freightos in 50 Words

Company overview

Biographies

Stats & Quotes

Recent Coverage

Mult imedia

Freightos in 20 seconds

90% of everything we eat, wear, and use is shipped. But the trillion-dollar freight industry is still un-automated. Freightos is revolutionizing freight by automating freight routing and pricing, connecting global logistics vendors to buy and sell freight services online. Freightos also connects manufacturers, importers, exports and distributers with forwarders for instant, transparent and competitive freight quotes.

Company overview

Freightos provides Software as a Service for freight forwarders to manage their rates and automate their routing and pricing, both internally and on their web sites. This replaces out-dated Excel and PDF management techniques that lead to incredibly slow price quotes (a recent survey showed that the global leaders take almost one week to quote) and inaccuracies.

Shippers and forwarders can leverage Freightos for instant, online quoting, introducing visibility and efficiency into the freight shipping process. Shippers can generate and book instant, door-to-door quotes directly online, using their own internal negotiated rates or rates shared by forwarders online.

Freightos is built on the Google Cloud and utilizes a Big Data approach to analyzing freight sales and pricing trends.

Factsheet

CEO:

Zvi Schreiber

Founded:

12/2012

Website:

freightos.com

Press contact :

Eytan Buchman +972 54 206 9227 eytan@freightos.com

Social :

@freightos

Freightos

FreightosPlus

Freightos

blog.freightos.com

Investors:

Funding: $9.3m

ICV

Aleph

OurCrowd

Annox Capital

 

Biographies

Zvi Schreiber, CEO

Zvi has founded and led multiple high-tech companies, including Tradeum (acquired by VerticalNet), Lightech (Acquired by General Electric), Unicorn Solutions (acquired by IBM) and G.ho.st. Zvi studied in the University of Cambridge and Imperial College, earning a PhD in Computer Science. He has written and spoken widely.

Victor Ofstein, COO

Victor is an experienced software executive who has driven software implementation, customer success and enterprise IT rollout in a variety of executive management roles. As COO of Freightos, Victor leverages experience from working with hundreds of top-tier clients throughout roles at IBM, Unicorn (acquired by IBM), Tradeum (Acquired by VerticalNet), Amdocs and Accenture.

 

Stats & Quotes

• In an internal survey, we requested price quotes from 15 of the world’s largest freight forwarders. Of the 15, only one managed to provide a price quote within four days. The rest couldn’t provide a quote during the first week. Source:  Internal  

• Global trade has grown by a factor of 400% in the past twenty years.  Source:  Brookings  

• The freight industry today is worth about $4 trillion dollars.  Source:  CandM  Research  

• $16 trillion dollars’ worth of goods, weighing over 17.5 trillion tons, were shipped within the US in 2011.

• In 2011, more than 580 million TEU (Twenty Foot Containers) were handled at ports around the world.  Source:  WorldShipping.org  

• Maritime shipping alone transfers more than $4 trillion dollars’ worth of goods annually.  Source:  WorldShipping.org  

• "One of the key future fields for digitalisation is the emergence of shipping e-commerce platforms... Freight forwarders must develop an e-commerce strategy to sustain/defend their position in the value chain... Forwarders will be able to reduce complexity and cost of operations through automated processes... integration is simplified by the platforms.    Source:  Roland  Berger  Strategy  Consultants  

• "Industry players will also need to drive ongoing innovations in interfacing technology... to achieve real-time information exchange (including supply chain platforms) in the cloud) and mutually optimised processes end-to-end, right across the supply chain."  Source:  Accenture  

• “However, a difference still exists between 3PL and shipper ratings of agility and flexibility to accommodate current and future business needs and challenges. This year 99% of 3PLs feel their customers expect these qualities in their 3PLs, while only 66% of shipper respondents judge their 3PLs as sufficiently agile and flexible. This continuing gap suggests a further need for improvement.”  Source:  2014  18th  Annual  Third-­‐Party  Logistics  Study  

• Only 55% of shippers are content with their 3PLs IT capabilities.  Source:  2014  18th  Annual  Third-­‐Party  Logistics  Study  

• “Shippers (97%) and 3PLs (93%) feel strongly that improved, data-driven decision-making is essential to the future success of their supply chain activities and processes. Interestingly, about half of each group disagree that Big Data fuels these decisions. In spite of this, shippers and 3PLs concur that Big Data can be leveraged in both functional and strategic aspects of supply chain operations.”

 

Source:  2014  18th  Annual  Third-­‐Party  Logistics  Study  

 

 

 

Recent Coverage

FAST Company (December 11, 2014)  

“By offering an automated solution to these forwarders…they’ll be able to cut costs for them by replacing haggling and internal back-and-forth with quick quotes.”

Journal of Commerce (October 29, 2014)  

“The Freightos network is bringing international freight online with automated pricing and booking, and this year has seen 600 percent year-over-year growth in online quoting.”

Techcrunch (March 25, 2014)

“By using the platform, freight quotes can take place in real time, rather than the status quo of days, helping freight forwarders win more business and, frankly, dragging the freight industry as a whole into the 21st century.”

Bloomberg (June 20, 2014)

“The shipping industry, which carries 90 percent of world trade, is finally going digital.”

Air Cargo World (May 5, 2014)

“The forwarders are drowning in this swamp of pricing and contract data from the carriers, and all suffer from the same fate, which is the inability to convert that data into meaningful quote information and pass it on to their customers as quickly and as flexibly and as transparently as possible”

Air Cargo News (April 21, 2014)

“Forwarders are taking up to four days and more just to provide price quotes for prospective customers...automating the process will boost modernization [e-freight] and efficiency”

The Next Web (9 June, 2013) “Bringing sexy back to the freight industry…freight has fallen behind other industries in going online creating a huge opportunity”

 

 

Multimedia

 

Full  Logo  (JPEG)  Full  Logo  (PDF)  

 

Explainer  Video  (YouTube)    

 

Platform  Photos  

  Freightos  Experiment  #1  Freightos  Experiment  #2    The  Freightos  Experiments  are  a  series  of  attempts  to  generate  online  quotes  from  leading  freight  forwarders  

 

All  files  are  available  in  high-­‐resolution  on  request.