Freight brokers often deal with two significant challenges when moving freight by truck: fragmentation and fraud. And trucking is one of the most fragmented industries in the U.S., with millions of trucks crisscrossing the nation’s highways daily. Securing the right truck at the right time continues to be a legacy problem, which has been compounded in recent years by the sharp rise in fraud and theft from posting loads on public load boards. Virginia-based GenLogs is addressing these issues by developing a nationwide network of roadside sensors that passively collect data on truck movements and extract key details like the U.S. Department of Transportation (USDOT) and motor carrier (MC) numbers, equipment types, and logos, all in real time.
This approach offers comprehensive, end-to-end visibility of trucks without the need for hardware installation, device integration, or an app. And this data is available via a user interface or ingestible via API for access in a freight broker’s transportation management system (TMS).
Investors see the major impact GenLogs can have on the U.S. supply chain. In April, GenLogs raised a seed round led by Autotech Ventures and Steel Atlas with participation from Venture53, TitletownTech, Plug and Play Ventures, BBQ Capital, ASC Ventures, and JHH Ventures. And GenLogs has cumulatively raised more than $6 million and plans to use this funding to expand its sensor network and a suite of computer vision models to provide customers with an omniscient view of the transportation industry.
Freight brokers can access comprehensive data through GenLogs’ intuitive Freight Intelligence platform. Launched only two months ago, it is already used by five of the top 10 U.S. freight brokerages, carriers, and mid-market customers via a SaaS subscription model. And the data provides real-time insights into available trucking capacity so 3PLs can secure the right truck at the right place and time with the perfect equipment match in need of a backhaul.
This platform has been widely praised for its effectiveness in securing truck freight. One user described this technology as follows: “It’s like playing a video game on ‘god mode’—a true cheat code for 3PLs. We have been able to significantly reduce our reliance on load boards where fraud is rampant. Soon, you won’t be able to compete as a broker without GenLogs.”
The GenLogs team has roots in tracking and locating. And tts three co-founders spent decades in the U.S. intelligence community tracking terrorists, and now they track trucks.
Along with offering valuable insights into truck carriers, GenLogs provides unique visibility into over 250,000 shipper locations, their lanes, and load volumes. And this provides freight brokers with the critical data needed to engage and secure new business while ensuring customers have access to a reliable and expansive trucking network to manage increased demand.
Through its Asset Locator, GenLogs works as a safety net by enabling alerts for missing or stolen trucks or trailers, helping reduce fraud and theft. And this feature recently helped a trucking company recover over 200 stolen or missing trailers within just two months of joining the platform.
KEY QUOTES:
“We’ve never seen logistics software with such strong market demand. Our network is eager to use GenLogs, discovering new use cases as they go. This ‘god view’ is disruptive enough to render legacy platforms obsolete. Building this platform from scratch showcases GenLogs’ exceptional execution, and we’re excited to be a part of this rocket ship journey.”
-Burak Cendek, partner at Autotech Ventures
“The entire market wants comprehensive data on all truck patterns, but placing sensors on four million trucks is a pipe dream. Using a proprietary roadside sensor network enables us to collect all that same data on the four million trucks without needing their permission.”
-Ryan Joyce, CEO of GenLogs
“GenLogs has developed the world’s most robust freight intelligence platform that fundamentally changes how freight brokers, carriers and shippers operate across the U.S. Their technology provides essential visibility into real-time trucking needs. GenLogs’ mission aligns directly with our thesis of eliminating volatility across the industrial value chain.”
-GenLogs’ board member Talal Attieh of Steel Atlas
“We initially worked with GenLogs for specific use cases – such as asset recovery – but are now exploring additional opportunities that could positively impact revenue. Their centralized data platform is unlike anything in the industry, helping us reduce costs and optimize operations by providing improved data on freight patterns and potential capacity. GenLogs combats fraud and drives operational efficiency, offering real-time tracking of niche equipment and direct connections with carriers. The ROI potential is significant.”
-Daragh Mahon, EVP and CIO of Werner Enterprises
