SAN DIEGO, Sept. 28, 2023 /PRNewswire/ — Today, during the company’s annual customer conference that hosts nearly 300 of the world’s largest shippers, Uber Freight announced the most comprehensive evolution of its logistics technologies designed to power the global movement of goods.
The news comes nearly two years after the $2.25B acquisition of the market’s largest transportation management company Transplace, which partners directly with shippers to manage their logistics networks. Now, with $18B freight under management, the company is releasing for the first time a next generation of products that infuse Uber’s advanced technology development capabilities, including AI-powered software. The strategic expansion of the business enabled Uber Freight to build a new kind of logistics company, one uniquely able to offer the kinds of comprehensive, end-to-end enterprise applications and services for the industry in an increasingly complex logistics landscape.
“The past couple of years have been transformative for our business, driving significant amounts of resources into delivering the next generation of technologies designed to power the global movement of goods,” said Lior Ron, Founder and CEO of Uber Freight. “The focus on developing new enterprise solutions underpins our commitment to our strategic customer base and the industry at large as we drive to be the most comprehensive partner to advance logistics networks.”
Uber Freight has made a deep investment in technology, with $120M invested since the acquisition that is focused heavily on scaling enterprise applications that span logistics software solutions, generative AI and data-enabled insights tools, as well as innovative capacity and mode expansions.
Reimagining logistics management with advanced software
- Uber Freight is rolling out the most comprehensive update of the widely-used Uber Freight TMS since it was first launched by Transplace in 2005. The Uber Freight TMS is the all-in-one solution for planning, executing, and monitoring complex logistics operations across modes and regions, bringing shippers the time-tested expertise, Uber-grade technology, and high-quality service they need to drive their intelligent logistics forward. Initial upgrades focus on delivering a new standard of visibility, foresight, and control, “Uberizing” modules to promote ease of use and actionable data—all while expanding global, end-to-end shipment visibility across modes including rail, ocean, and air.
“When you have a supply chain that’s expansive and complex as ours, cutting-edge technology isn’t a nice-to-have—it’s essential,” said Randy Cooper, Director of Transportation at Del Monte Foods. “Our partnership with Uber Freight’s managed transportation and innovative technology has become our secret sauce as we serve our customers.”
- Uber Freight is deepening its investment in software solutions with the launch of Uber Freight Exchange, a powerful new tool designed to meet the evolving needs of shippers and carriers by expediting freight procurement cycles and powering rapid shipment execution. Uber Freight Exchange is a neutral platform open to all shippers and carriers—a shipper can utilize Uber Freight Exchange to run auctions with their own carriers, in addition to Uber Freight’s network of 100,000 carriers across the US. With integrated communication, simple bid functionality, and historical performance reporting, it enhances operational efficiency, fosters partnerships, and safeguards lane coverage risks in any market conditions.
Bringing the power of generative AI and machine learning to enterprise shippers
- Uber Freight is unveiling Insights AI, a powerful generative-AI-powered insights tool that will transform decision making in logistics and support transportation teams from granular, tactical views to more complex, strategic analyses. Insights AI will leverage LLMs to generate and surface insights from Uber Freight’s vast store of transportation data for customers.
- Uber Freight is also leading the industry in the creation and application of AI and machine learning to drive network optimization and service improvements at scale with several new models rolled out recently, including a sophisticated ETA model, which, when combined with Uber Freight’s Probability of Late Arrival (PLA) model, helps to drive automated ‘self-healing’ workflows to improve shipper service.
Expanding dynamic capacity and freight modes, across regions
- Uber Freight has strategically grown the footprint of the Powerloop program to meet surging client demand for drop and hook and dedicated capacity solutions. The program has expanded operational scope from localized freight within Texas, California and Georgia, to regional and over the road freight stretching across several new states including Arizona, Utah, New Jersey, New York, Arkansas, Minnesota, Wisconsin, Illinois, Indiana, Ohio, Tennessee, Pennsylvania, Virginia, North Carolina, South Carolina, Florida, and Kentucky.
- Uber Freight continues to gain ground as the most extensive autonomous freight network in North America with active partnerships with the leading developers and dozens of shippers moving autonomous loads on the network daily. In September, the company achieved a milestone of 100k autonomous miles driven with AV carriers on the network.
- Uber Freight has expanded support across the North American cross-border supply chain. To meet a 20% increase in production from across the customer base, the company now has six cross-border locations between US and Mexico and over 1,000 team members throughout the region to support this tailwind.
Uber Freight also shared the extensive progress the business has made since the acquisition, including expanding its connected network of shippers and carriers to one of the largest in the world with 2 million drivers registered since the founding of the company, and dramatically advancing its sustainability impact, with an estimated 2.4 million empty miles eliminated from its network in the past year alone.
To learn more about Uber Freight’s end-to-end suite of enterprise solutions and services, visit www.uberfreight.com
ABOUT UBER FREIGHT
Uber Freight is a market-leading enterprise technology company powering intelligent logistics. With a suite of end-to-end logistics applications, managed services and an expansive carrier network, Uber Freight advances supply chains and moves the world’s goods. Today, the company manages over $18 billion of freight and has the largest network of carriers. It is backed by best-in-class investors including Greenbriar Equity Group and partnered with 1 in 3 Fortune 500 companies, including Del Monte Foods, Nestle, Anheuser-Busch InBev and more. For more, visit www.uberfreight.com
SOURCE Uber Freight
