Home > Tools > News > Convoy Launches New Marketplace To Help Small Trucking Businesses Compete With Large Carriers

Convoy launches new marketplace to help small trucking businesses compete with large carriers

Apr 19, 2019 at 07:16 AM CST

After years of development and testing, Convoy today launched a new marketplace that helps small trucking companies get access to potential business traditionally available to only large carriers. The Seattle startup, valued at more than $1 billion with investors such as Jeff Bezos and Bill Gates, develops technology to match truck drivers with shippers looking to move freight. It aims to disrupt a $800 billion U.S. trucking industry. Today the company officially launched Convoy Go, a “drop and hook” marketplace that lets any carrier haul pre-loaded trailers which represent the majority of Fortune 500 company shipments. About 90 percent of U.S. trucking companies operate six or fewer trucks, according to Convoy, but they typically don’t have enough capital to invest in a trailer pool network across the country to access the pre-loaded trailers. As a result, only large carriers are able to handle those orders.