Truckstop.com celebrates 2018!
Truckstop.com closed 2018 with record company growth, marked by strategic acquisitions and partnerships, and unprecedented user activity. With empty miles accounting for nearly a third of all trips made by commercial trucks globally, Truckstop.com is helping carriers and brokers put more money in their pockets by giving them the tools they need to increase asset utilization and productivity.
“The transportation industry is undergoing a digital transformation with far-reaching impact on carriers and brokers alike,” said Paris Cole, CEO, Truckstop.com. “At Truckstop.com, our priority has always been to find a better way to bring our customers additional success. We have been very busy building our team and expanding our partnerships to ensure that every customer receives the service and quality they expect and the technology they need to make their businesses more profitable.”
The company completed two strategic acquisitions in 2018 to address the universal industry pain points of partner vetting and cash flow. The acquisition of SaferWatch gives brokers reliable carrier qualification and monitoring capabilities. The acquisition of D&S Factors (recipient of the FactoringClub 2019 Best Factoring Company Award) allows the company to extend accounts receivable and financing services to freight brokers and motor carriers.
In addition to acquisitions, the company announced a strategic partnership with Chainalytics and more than 60 new Truckstop.com partner integrations. The Chainalytics partnership combines market intelligence products with Truckstop.com’s rates data to provide increased visibility into contract and spot rates in North America. The database and modeling aggregate more than $80B of combined freight rate intelligence—making it North America’s largest rate database.
2018 also marked a record year for company growth. Named a “Top 50 Company for Women to Work for in Transportation” by the Woman in Trucking Association (WIT), Truckstop.com hired nearly 200 employees and added key executives including, technology industry veteran and lead developer of the team that designed XBOX Live, Jeff Allen as Chief Technology Officer (CTO), and Victoria Roberts as Chief People and Culture Officer.
“Truckstop.com has been an industry leader for almost a quarter century and I’m excited about where we’re headed as a company,” said Allen. “As the industry adopts new technologies and freight and transportation evolves, we have a unique opportunity to push transportation experiences forward through innovative products that make our customer’s lives easier.”
Data & Demographics
Compiling data from the company’s annual customer demographics survey, Truckstop.com found that the majority of carriers list “rate” as the primary reason they choose to haul a particular load—more than deadhead miles, origin, and destination combined. In 2018, more than 60 percent of Truckstop.com load postings were not same day, giving carriers more freedom and flexibility to identify better loads and rates.