Aggregating Spot Freight Opportunities for Carriers
Manifold is revolutionizing the spot freight procurement process for Carriers, Brokers, and Shippers. Our inaugural product transforms the booking process for spot shipments, significantly reducing empty miles and increasing revenue. We do this by aggregating spot shipment opportunities from a variety of shipper and brokerage sources into a single location. Andrew and Oliver bring deep domain expertise of freight from their pivotal roles at Convoy, where they were engineering leaders automating processes that were scaled to handle over 10,000 weekly shipments. This background has been instrumental in shaping Manifold's innovative approach. In just two months since launching Manifold has achieved $5,100 in monthly revenue, showcasing the pressing demand for our product. Manifold is poised to transform this $100+ billion industry. Not only will we streamline spot freight procurement operations but we will also redefine the industry's cost structure for the better.
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Active Founders
Oliver Jones, Founder
I am the CEO and co-founder of Manifold. Previously, I spent years in startup life at Convoy, learning firsthand about growing teams, pivoting and launching new products. Most importantly, learned a great deal about the logistics space and the problems that need to be solved there.
Andrew Huff, Founder
I am the CTO and co-founder of Manifold Freight. Most recently I worked as a software engineer and engineering manager at Convoy - a digital freight brokerage. Specifically working on tools to automate cumbersome freight logistics processes.
Company Launches
TL;DR At Manifold, we aggregate spot opportunities for carriers.
Hi, it's Oliver and Andrew, the co-founders of Manifold. We were early engineers at Convoy (#12 and #50) and where there until the company was acquired by Flexport last Fall. Our broad and recent experience at Convoy has given us deep insights into the complexities of the freight industry. Manifold Freight is our response to simplifying a piece of the $800 billion freight industry. Our first target market is Asset Based Carriers - a radically underserved segment..
The Underserved Large Asset-Based Carriers 🚛
Over the last decade, there has been a surge of tech investment into the freight industry (e.g., Convoy, Uber Freight) - but their focus has been maximizing the margin and capacity of smaller carriers (< 10 trucks). Medium to large Asset-Based Carriers, especially those operating with 50+ trucks, have seen minimal interest from tech despite representing more than ~60% of the U.S. truckload capacity - roughly 2,600,000 trucks! (data)
Nowhere is this more apparent than in the $100 billion spot freight market. Existing solutions don’t work well for medium and large Carriers. The spot freight market is fragmented across hundreds of load boards, thousands of brokers, and millions of shippers. For medium and large carriers, this fragmentation creates a logistical nightmare. Finding a single spot freight shipment requires a dispatcher to manually login, filter and compare each load against their fleet and availability. Sorting through thousands of emails, multiple load boards and making many time consuming phone calls.
The result? Dispatchers go the path of least resistance - large public load boards. They can’t take advantage of the much higher value, shipper direct freight because it’s physically impossible to sort through them all every day. These public load boards take an 18-30% cut of the shipment price that otherwise could have gone to the carrier. For the average medium-sized carrier doing 50 spot loads a week, this represents almost $500,000 in lost yearly revenue (2,600 shipments x $700 × 24% = $462,280).
The Manifold Solution
Manifold solves this problem by aggregating all available spot freight opportunities, including shipper direct spot freight, into one single dashboard.
Finding and bidding on quality shipper direct freight is easier with Manifold than finding low quality loads on DAT, the current industry standard.
Asks
If you have connections in the freight industry; whether they be Carriers, Brokers, or Shippers. Send them our way! We talk freight in our spare time and love it.
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