BGSA Client NavTrac Sells to Loadsmart
West Palm Beach, FL – October 2, 2023 – BGSA Holdings LLC (“BGSA”) is pleased to announce that its client, NavTrac, a technology company specialized in computer vision for yard, terminal, and asset management, has been acquired by Loadsmart, a leading freight technology and transportation service provider.
Using a combination of NavTrac’s proprietary machine learning, optical character recognition, AI tools, and third-party hardware and software, NavTrac’s technology leverages cameras to capture live videos of trucks and containers, automatically extracting alphanumerics, document equipment, detecting damages, and timestamping events for incoming and outgoing trucks and containers. Computer vision technology can also mitigate crime and fraud in the freight industry by identifying incorrect timestamps and monitoring the security of high value cargo.
With the acquisition, Loadsmart expands its solutions to offer a digitized and automated way to manage inventory and track assets, increasing the logistics efficiency of intermodal service providers, container/storage yards, asset-based carrier’s truck yards, and warehouse operators. This expansion into computer vision solidifies Loadsmart’s position as a leader in the freight industry and brings new products to Loadsmart’s portfolio.
Loadsmart is already the leader in dock scheduling solutions with its Opendock offering, currently utilized by more than 110,000 carriers in the US, and Navtrac’s technology will only enhance and expand the value proposition for more than 3,000 warehouses who have adopted Opendock.
NavTrac’s innovation integrated with Loadsmart’s existing internal resources, including sales, customer experience, technology, and back-office capabilities allows for new revenue streams, and the elimination of downstream costs for transportation facilities.
NavTrac’s SmartGate camera system also provides automatic compliance tracking for the Warehouse Indirect Source Rule (ISR) emissions mandate currently impacting all warehouses in Southern California over 100,000+ square feet.
Felipe Capella, CEO of Loadsmart, emphasized the significance of this acquisition, “Computer vision can automate inbound/outbound facility traffic, identify damages in trucks and containers, and enhance yard and terminal visibility by generating virtual yards based on cameras. It can track what trucks, trailers and containers are currently moving in any given highway at any given point, without any need for system integrations. This acquisition aligns perfectly with our mission to provide innovative solutions that drive efficiency and value for our customers.”
About Loadsmart
Loadsmart revolutionizes the logistics landscape by combining cutting-edge technology with high-level transportation services to optimize freight spend, increase efficiency, and enhance service quality. Whether it be through managed transportation services, freight management software, dock scheduling software, truck management solutions, dynamic freight brokerage, or tailor-made optimization solutions, we empower shippers, carriers, and warehouses to move more with less. For more information, please visit https://loadsmart.com.
About NavTrac
NavTrac is an AI-Powered Yard Management System (YMS) that reimagines yard operations. NavTrac leverages advanced OCR technology to create a digital image of every asset that enters your facility. NavTrac’s proprietary software analyzes this visual data to provide real-time inventory reporting and analytics. For more information, please visit http://www.navtrac.com.
About BG Strategic Advisors
BGSA is a leading M&A advisory firm focused on the logistics and supply chain industry. The firm specializes in helping outstanding transportation and logistics companies to maximize value through mergers and acquisitions. BGSA has worked with major supply chain companies including NFI, UPS, DHL, Werner Enterprises, Echo Global Logistics, New Breed (now XPO), GENCO (now FedEx), Converge (now Arrow Electronics), Wilpak (now XPO), and others.
For more information about BGSA, please visit https://BGSA.com or contact Ben Gordon at ben@bgsa.com and 561-932-1601.
BGSA Announces 2023 Supply Chain ‘Shark Tank’ Competition Winners
Award recognizes Nereus as Judge’s Choice and Navix.io as People’s Choice Winners
West Palm Beach, Florida — BG Strategic Advisors, a leading advisor to the supply chain and technology sector, is pleased to announce that this year, for the first time ever, the BGSA Supply Chain “Shark Tank” had two winners. We want to congratulate Navix.io Co-Founder and CCO, Eric Krueger as the People’s Choice winner of the Book Your Cargo-sponsored BGSA 2023 Supply Chain “Shark Tank” competition and Ian Zaretzky, CEO of Nereus Supply Chain Technologies as the Judge’s Choice winner. The contest, held during the BG Strategic Advisors Supply Chain Conference January 18-20, 2023, featured presentations from high-growth, technology-enabled supply chain companies poised for transformative growth.
“When we heard we were selected as a finalist for the Shark Tank competition, we were understandably thrilled. Our fellow finalists gave excellent pitches, so to be selected as the People’s Choice winner was an incredible honor for us,” said Eric Krueger, Co-Founder of Navix. “Our team has worked so hard to build a platform to solve a long-standing need in the industry; it’s a good feeling to be recognized by our peers.”
“I was incredibly honored to be selected as a finalist at one of the most important conferences of the year. Our team took home the Judge’s Choice award of the BGSA Supply Chain Conference “Shark Tank” competition, which is an incredible honor and validates what we are doing,” said founder and CEO Ian Zaretzky. “Our Containers-as-a-Service platform Nereus.io came out on top against some amazing technology and tough competition – what an amazing experience.”
“It was a great pleasure for Book Your Cargo to sponsor the “Shark Tank” competition, a truly unique opportunity within our industry to connect with some of the brightest entrepreneurs as they showcased their innovative startups in front of the industry’s most respected, influential, and sharpest minds. We would like to thank and congratulate BGSA, judges, winners, and finalists on an excellent event and job well done!” said Book Your Cargo CEO, Nimesh Modi. “We look forward to following these innovators on their journey to transform the supply chain industry as we see it. At Book Your Cargo, innovation remains the core of our mission to revolutionize and prioritize the container drayage sector, thus to be the diamond sponsor at the BGSA conference was an honor.”
The BGSA Supply Chain “Shark Tank” finalists were judged by “Sharks” Ed Ryan, CEO, The Descartes Systems Inc., Jack Holmes, Executive Chairman, Emerge (former President of UPS Freight) and Herb Shear, Chairman, Shear Family Office (Founder and former CEO of GENCO).
The winners each received $5,000 of legal services from AmLaw200 firm Benesch.
BG Strategic Advisors would also like to thank the other Supply Chain “Shark Tank” participants for outstanding presentations and for helping to make the event a great success, including:
- Camilo Garcia – CEO, CubiQ
- Eric Rodriguez – CEO, Vendorflow
- Mike Malakhov – Founder & CEO, Carpool Logistics
- Phillip Akhzar – Founder & CEO, Arka
About Nereus.io
Nereus.io is a container asset management solution that is servicing Shipper Owned Container (SOC) demand. Nereus.io connects Freight Forwarders, Beneficial Cargo Owners and Shippers with container capacity that they can own and control, minimizing detention, demurrage and other hidden costs. The Nereus.io platform was designed for container asset management to include; procurement, logistics, tracking the assets, and liquidation, offering the management of the entire life cycle and needs for container shipping and global trade. For more information, visit nereus.io.
About Navix
Navix is a modern Software-as-a-Service platform streamlining document retrieval and freight auditing service. Navix enables 3PLs and brokers to automate their processes at scale, increasing their cash conversion cycle and revealing better insights into their freight spend and discrepancies. Navix creates greater profitability through its highly configurable automation triggers, API-first approach for seamless integrations, AI/ML-driven insights, and white-glove auditing services. For more information, visit navix.io.
About Book Your Cargo
Book Your Cargo (BYC) is a dedicated trucking partner for your container drayage operations across the US and Canada, delivering a tailor-made container drayage solution with its nationwide vendor network and proprietary state-of-the-art Transportation Management System. BYC’s cloud-based Digital Drayage Platform optimizes the drayage process with instant rate quotes, operational optimization, service integration, order visibility, and real-time milestone updates transmitted through API/EDI integrations eliminating the fragmentation experienced for years within the industry. The company’s team of drayage experts offers white-glove service to some of the top fortune 500 companies & other OTIs, touting a less than 1% track record of service failures. For more information, visit bookyourcargo.com.
About BG Strategic Advisors Supply Chain Conference
The BGSA Supply Chain conference is a one-of-a-kind, invitation-only event designed to bring together top industry leaders from all segments of the supply chain and provides an intimate and candid setting where CEOs and leaders can privately network and explore ideas and opportunities with their peers. For more information, visit bgsaconference.com.
About BGSA Holdings
BGSA Holdings (“BGSA”) is the leading investment banking practice serving businesses in the supply chain sector. We are a trusted partner for sell-side engagements, buy-side acquisition advisory, strategic advice, and a variety of other investment banking services. For more information, visit BGSA.com or call Jennifer at (561) 932-1607.
