SOFTWARE AND TECHNOLOGY
Klearnow | June 02, 2022
KlearNow Drayage, a cloud-based marketplace that allows importers and drayage partners to negotiate and close drayage business on a single platform, was launched today by KlearNow, a smart Logistics as a Service (LaaS) technology firm. The AI-powered, digitalized infrastructure allows for near-real-time container tracking from point of origin to point of destination, increasing shipment visibility and data connectivity.
Companies across industries are keen to speed up and streamline the movement of goods to market as global supply chain issues persist. KlearNow is the only LaaS firm to include drayage fulfillment and visibility into its existing customs platform, providing exporters and importers with unprecedented shipping transparency. KlearNow bridges the gap between customs clearance and drayage, providing supply chain stakeholders with complete control over the final mile.
Shipping lines, ports, terminal operators, truckers, warehouses, and cargo owners must all communicate in order for commodities to flow. While these various companies have begun to digitize their internal operations, information is not easily transferred as cargo goes through the supply chain, causing costs to rise, confusion to arise, shipments to be delayed, and customer relationships to be jeopardized.
International shipments must cross customs at each border along the way, using documents such as invoices, packing lists, bills of lading, arrival notices, and more. Document management and data entry have always been laborious, manual tasks for the customs brokerage team. KlearNow Customs, the company's first marketplace, uses AI and machine learning to digitize papers and extract all the necessary information, sending correct, validated data to customs brokers for clearance.
Drayage and trucking businesses lack clear carrier and port visibility once a shipment arrives at a port, making it difficult to plan pick-up timing and keep drivers waiting, unpaid, and accruing demurrage penalties.
11:11 SYSTEMS | July 11, 2022
11:11 Systems (“11:11”), a managed infrastructure solutions provider, announced the acquisition of Static1, a leader in managed network and IT infrastructure development and services. Driving increased productivity, efficiency and security for its customers, Static1 designs, builds, runs and optimizes IT infrastructure.The enterprise network infrastructure market is valued at $56B as of 2021, and is expected to grow significantly over the next five years. The shifting dynamics of remote work and the increased need for bandwidth and technology to enable the migration to wireless are major factors driving the growth of the connectivity market. IT leaders must ensure applications and data are connected, anywhere, anytime, but most businesses do not have the internal resources to manage those new complex infrastructure requirements.
“Feedback from customers has shown that there is a dearth of offerings that combine cloud, connectivity and security in one platform, We are focused on providing the platform for these three core pillars while ensuring that our customers’ apps and data are always running, accessible and protected. Static1 is a natural addition to our portfolio particularly because of the team’s significant depth in connectivity. With this acquisition, we will strengthen our existing managed services and add entrenched industry expertise and relationships to our portfolio.”
-Brett Diamond, CEO, 11:11 Systems
Static1 is a leader in complex industries such as media, entertainment, pharmaceutical, retail, financial services and not-for-profits. Their services span the gamut from connectivity to security management to monitoring, network, infrastructure and SD-Wan technology. Through this acquisition, Static1’s team and technology will complement 11:11’s recent acquisitions of Unitas, Cleareon, iland and Green Cloud Defense– each of which hold market leadership positions within the cloud, connectivity and security spaces.
“11:11 and Static1 share a vision for addressing the most pressing issues that businesses face, This exciting step forward benefits our customers with continued best-in-class support, greater uptime, reliability and security, all while reaping the benefits of accessing the full spectrum of purpose-driven solutions 11:11 has to offer.”
-Anthony Lobretto, president and CTO, Static1
11:11 is backed by Tiger Infrastructure Partners, a middle-market private equity firm that invests in growing infrastructure platforms.
Q Advisors, a global TMT investment banking boutique, acted as exclusive financial advisor to 11:11 Systems in connection with this transaction. Perkins Coie acted as legal advisor to 11:11 Systems. The terms of the transaction were not disclosed.
ABOUT 11:11 SYSTEMS
11:11 Systems is a managed infrastructure solutions provider that holistically addresses the challenges of next-generation managed cloud, connectivity and security requirements. The 11:11 model empowers customers and partners to “Rethink Connected,” which includes fully-integrated, fully-automated services, activities and data powered on a single platform delivering increased performance, optimization and savings. Learn more at 1111Systems.com.
Static1 is a Managed Services Expert that focuses on clients needing solutions to process complex data sets, share high bandwidth files across the globe, manage remote workforces while protecting data security and integrity, and more. With the tools, processes and knowledge to design, build, run and optimize IT infrastructures, Static1 builds what companies need and services what the company builds, taking great pride in helping clients anticipate, operate, integrate and collaborate better. For more information and a full review of capabilities, visit Static1 at www.static1.com
ABOUT TIGER INFRASTRUCTURE PARTNERS
Tiger Infrastructure Partners is an innovative, middle-market private equity firm that invests in new and growing infrastructure platforms. Tiger Infrastructure targets investments in communications (digital), energy transition, transportation, and related sectors, primarily located in North America and Europe. For more information, visit www.tigerinfrastructure.com.
NMFTA | June 15, 2022
The National Motor Freight Traffic Association has announced an agreement to take over the administration and directorship of the Digital LTL Council.
The Digital LTL Council was formed in November 2020 by a diverse group of industry executives committed to the full digitalization of the LTL industry. In its new role, NMFTA will bring industry expertise, dedicated resources, marketing and legal support – in addition to the financial resources needed to accelerate the Council's work.
"The NMFTA is extremely pleased that the current members of the Digital LTL Council have voted overwhelmingly to accept our proposal to sponsor the Council, We look forward to bringing their vision to fruition."
-Paul Dugent, a board member and recent executive director of NMFTA.
According to Brian Thompson of Digital LTL Council member SMC3, the Council brings together carriers, logistics service providers, shippers and technology providers with the sole focus of developing a set of uniform standards that supports the scalable automation and digitalization of LTL shipment management. The Council released its first set of standards to support the electronic bill of lading in late 2021, and work continues with a focus on shipment visibility and freight exception handling.
Debbie Sparks, who recently took over as executive director of NMFTA, said the two organizations are an ideal fit for each other.
Since 1956, the National Motor Freight Traffic Association, Inc. (NMFTA) has represented the interests of the less-than-truckload (LTL) motor carrier industry. NMFTA is committed to helping LTL carriers meet the challenges confronting the transportation industry in the 21st century through research, education and the publication of specifications, rules, transportation codes and the preparation and dissemination of studies, reports and analyses. Membership in NMFTA is available to all for-hire interstate and intrastate motor carriers.
About the Digital LTL Council
The Digital LTL Council brings together carriers, logistics service providers, shippers and technology providers with the sole focus of developing a set of uniform standards that support the scalable automation and digitalization of LTL shipments.