10-4 Systems licenses MacroPoint freight-tracking software
Logistics software startup 10-4 Systems Inc. will license freight-tracking technology from former rival MacroPoint LLC to provide real-time supply chain visibility for its "Uber for trucking" business model, the companies said Wednesday.
The announcement comes three months after Cleveland-based MacroPoint won a patent dispute with rival logistics tech vendor FourKites Inc. on Aug. 30 over the technology used to monitor freight status using mobile devices such as electronic logging devices (ELDs) and cell phones, MacroPoint said.
"We have received a lot of licensing interest since our latest patent (was) issued," MacroPoint CEO Bennett Adelson said in a statement. "Most companies respect intellectual property rights, and many partners and competitors have been reaching out to us with ideas of how to work together and leverage our invention in new and interesting ways."
Boulder, Colo.-based 10-4 makes a fleet-management trucking app that automates data exchange among carriers, brokers, and shippers, matching trucks with shipper loads so carriers can avoid empty backhaul miles. The company has been growing fast since landing $13.9 million of funding in June and spinning off from parent company GlobalTranz Enterprises Inc.
"We welcome 10-4 as a licensee and partner," Adelson said in the statement. "The visualization tools they have developed are state of the art and top notch. This deal ensures that end users are now properly licensed and able to continue incorporating our technology into their standard operating procedures for the long term."
The combination will provide an improved platform for both shippers and carriers, 10-4 said.
"We are partnering with MacroPoint because of the vast number of freight carriers already connected to its network," 10-4 president and CEO Travis Rhyan said in the release. "Our shipper customers now receive instant visibility to all of their carriers and can visualize the data inside of our dashboard and analytics platform."
MacroPoint operates a multi-modal freight-tracking network that provides real-time visibility into load status and estimated time of arrival (ETA) for third party logistics providers (3PLs), brokers, shippers, and carriers. The systems works by integrating data from in-cab telematics devices; trailer and container tracking systems; driver cell phones; and Transportation Management Systems (TMS).
MacroPoint announced last week that it received a $44 million investment from private equity firm Susquehanna Growth Equity LLC (SGE). Macropoint said it plans to use the funds to accelerate its investment in product and network expansion.
