FreightWise

FreightWise LLC operates as a logistics technology and services company, providing a cloud-based, mobile-friendly Transportation Management System (TMS) designed to optimize supply chains. The company was founded in 2015 by Chris Cochran, who currently serves as CEO, and Alex Rustioni, the EVP of Sales. Cochran's background includes five years at Oracle, where he was heavily involved with Oracle Transportation Management, and the founding of TracBack Solutions, a parcel audit and analytics company he sold in 2013. This experience in enterprise software and logistics informed the creation of FreightWise, which was bootstrapped with funds from the TracBack sale.

The company's mission is to address a market gap for a modern SaaS product that integrates with a client's existing infrastructure, such as ERP, WMS, and OMS systems, to reduce costs and streamline transportation management. FreightWise targets small-to-medium-sized shippers in the U.S. and Canada, particularly those with annual freight spends under $10 million, across industries like manufacturing, distribution, retail, and technology. The business model combines a SaaS platform with managed services, including supply chain design, freight audit and payment, and leveraging collective buying power for better carrier rates. This hybrid approach of technology and service is a key differentiator, as many clients in the SMB market lack the volume and expertise to negotiate favorable terms with carriers on their own.

The FreightWise TMS platform allows users to manage the entire order-to-payment process in a single system. Key features include real-time shipment tracking, rate shopping across various modes (Parcel, LTL, Truckload), automated mode and carrier selection based on business rules, and integrated documentation. The platform provides analytics and reporting dashboards for proactive management and can automate customer notifications. A significant milestone for the company was the acquisition of Kuebix from Trimble, which added a large community of over 20,000 shippers to its ecosystem. This acquisition, along with strong organic growth, led to the company being ranked as the second fastest-growing private company in the U.S. on the 2019 Inc. 5000 list.

Keywords: Transportation Management System, TMS, supply chain optimization, logistics technology, freight management, managed transportation services, freight audit, freight payment, LTL shipping, parcel shipping, truckload shipping, supply chain software, logistics cost reduction, SaaS, Chris Cochran, Kuebix, Nashville, freight analytics, carrier rate negotiation, ERP integration