In 2020, disruption gave way to innovation at FourKites
The COVID-19 pandemic and ensuing economic shutdowns did not have the effect on freight that many thought they would. In fact, the initial disruptions caused by the shutdowns drove more interest in freight visibility solutions.
Few companies are more representative of that fact than FourKites. The real-time supply chain visibility company saw tremendous growth in 2020 with 140% growth in ocean customers and 138% growth in rail and intermodal customers over 2019. The company told FreightWaves it has experienced a 200% increase in international load volumes tracked via its platform and a 149% increase in rail shipments tracked. Onboarded carriers grew 67%, it said.
During this time, FourKites has continued to roll out new technology and visibility-related solutions, earning it the No. 6 spot on FreightWaves’ annual FreightTech 25 awards list. The FreightTech awards nominations are narrowed down to the FreightTech 100, which is then voted on by a handpicked peer group of CEOs, industry leaders and investors actively investing in freight to select the FreightTech 25.
“We are honored to have been named to the FreightTech 25 for the third year running. In a year of so much upheaval in supply chains, disruption and continued innovation in the market is more important than ever. Our 500-plus customers recognize this and we saw them this year finding new ways to collaborate with their partners, extend visibility into new parts of their operations, track shipments more closely and dynamically than ever, and improve safety and efficiency throughout their operations. We will continue to dig in and support them in all of these areas and more,” Matthew Elenjickal, founder and CEO, said.