Flock Freight honored for its terminal-free, carbon-neutral shared truckload technology
ENCINITAS, CALIF. — May 17, 2022 — Flock Freight®, a technology company that is reinventing freight shipping with shared truckload (STL) service, today announced its position as #14 on the prestigious CNBC Disruptor 50 list for the second year in a row. Up from #42 in 2021, the annual list recognizes private, VC-backed companies that are transforming the way we live. This recognition follows other recent distinctions for Flock Freight, including features on the TIME100 Most Influential Companies and Fast Company’s World Changing Ideas lists.
“The global supply chain is what keeps our world in motion, but there is so much that needs to be done to make it more efficient, and more sustainable,” said Oren Zaslansky, CEO and founder of Flock Freight. “We are so honored that our shared truckload (STL) solution—FlockDirect™—is recognized for the second year in a row which reaffirms our commitment to leveraging technology to change the freight industry from the inside out.”
A recent survey from Flock Freight of shippers in the U.S. found that of the truckloads booked in 2021, over half (51%) were moving partially empty. Flock Freight is disrupting the $2T freight industry by fundamentally changing the way freight moves to help address this inefficiency. It is the first company to figure out how to reduce waste by maximizing trailer space through the pooling of freight shipments at scale into shared truckloads. FlockDirect, the company’s guaranteed terminal-free STL service, uses proprietary algorithms that combine multiple partial shipments onto one truck, avoiding the traditional hub-and-spoke model of less than truckload (LTL) shipping and using last-in-first-out loading for faster, safer shipping. Shared truckload has become the leading alternative to the traditional two over-the-road shipping options: LTL and truckload. Because technology eliminates unnecessary mileage and transloading, shared truckloads through Flock Freight lead to higher (94% average) on-time performance and more efficient routes between destinations, which creates a win-win scenario for shippers and carriers, as well as for the environment.
Transportation is responsible for 50% of nitrogen oxide emissions in the United States. By maximizing trailer utilization and reducing unnecessary mileage, Flock Freight also helps to reduce environmental impact by 15-40% compared to LTL and truckload respectively. Additionally, the company goes one step further by also purchasing carbon credits through Carbonfund.org and STX to offset the remaining carbon emissions of every FlockDirect load, ensuring freight is moved carbon neutral at no additional cost to shippers.
In March of 2022, Flock Freight officially added a new Chicago office in the emerging tech hub, Fulton Market, with plans to hire approximately 125 employees in the immediate future. To date, Flock Freight has raised $399M, reaching unicorn status last October with its $215M Series D raise from SoftBank Vision Fund 2, bringing the company valuation to over $1B.
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About Flock Freight
Flock Freight, a Certified B Corporation, and 2022 TIME’s 100 Most Influential Company, has been using technology to reinvent the freight industry since 2015. First to market with advanced algorithms that combine shipments into more efficient terminal-free shared truckloads, Flock Freight creates a new standard of service for shippers, increases revenue for carriers, and reduces the impact of carbon emissions.
Flock Freight is headquartered in Encinitas, CA, with an additional office in Chicago, IL.