DAT Freight & Analytics announced plans to acquire the Convoy Platform from Flexport, adding best-in-class automation and digital freight-matching technology to its product portfolio.
“The acquisition of the Convoy Platform demonstrates DAT’s ongoing commitment to enhancing network value for our customers,” says 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,” says 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.”
Key takeaways:
- The Convoy Platform provides freight brokers the ability to automate virtually every aspect of the freight transaction and connect with trusted trucking companies, further complementing DAT One.
- 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.
- 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.
- The Convoy Platform’s proprietary technology uses machine learning and AI models to verify carriers on the network and block malicious actors.
- 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.
