SAN FRANCISCO, Oct. 10, 2019 /PRNewswire/ -- Flexport, the modern freight forwarder, today announced the acquisition of Crux Systems, the most advanced technology solution for tracking ocean containers. The acquisition will accelerate the automation of Flexport's shipment tracking capabilities, upgrading the track and trace data that powers our freight-forwarding services.
Founded in 2014 by CEO Eric Klein and COO Jennifer Colvin, Crux Systems helps importers, exporters, port terminals and trucking companies gain real-time visibility into the location and status of containerized cargo. Crux Systems' shipment data informs supply chain planning by driving actionable insights that can reduce dwell times, demurrage fees, and hours spent tracking containers.
The acquisition of Crux Systems will allow Flexport to incorporate the company's track and trace technology into Flexport's platform, which is used by nearly 10,000 shippers and suppliers. Clients will get more accurate, more timely visibility into their shipments, including cargo location, time stamps, and completion of major delivery milestones.
"When we founded Crux Systems, we saw an opportunity to improve global logistics by solving the difficulties of accessing container information and getting real-time visibility into what's happening with your shipments," said Crux Systems CEO Eric Klein. "Joining Flexport enables us to leverage expertise, infrastructure, and technology to further build out a world-changing track and trace service.''
Ryan Petersen, CEO of Flexport, said: "Making the measurement of on-time performance more scientific and objective will allow us to align incentives with our customers and operate with real skin in the game. Integrating Crux Systems technology and expertise natively into the Flexport platform will take us one step closer to a world where the service levels of freight forwarders are performance-driven and clearly measurable."
Flexport is the modern freight forwarder. Companies use Flexport to move, finance and make better decisions about freight - all on one digital platform powered by a unique combination of technology, logistics infrastructure and expertise. Today, Flexport connects almost 10,000 clients and suppliers across 109 countries, including established global brands as well as emerging innovators. Flexport offers a full range of services, including ocean, air, truck and rail freight, drayage and cartage, warehousing, customs and trade advisory, financing, and insurance.