The new company is based on the recently acqired Logistics Group of Sabre Inc. and has $30 million in funding from Internet Capital Group, an Internet holding company engaged in businesss-to-business e-commerce.
Through its Digital Transportation Marketplace, Logistics.com will provide decision support systems and products to help carriers maximize yields, decrease deadhead miles, bring drivers home more often, and increase revenue per mile.
For shippers it offers OptiBid, a system designed to optimize annual contract bidding. The company says more than 30 shippers have used OptiBid over the last three years to establish their annual contracts. More than 20 shippers also currently use SureShipping, the company's transportation management system. By integrating the shipper and carrier systems, Logistics.com says it will enable real-time transportation buys while creating a faster, more efficient decision-making environment.
"Our software products have enabled us to build poewerful relationships with many leaders in the transportation industry, including Yellow Freight, Kraft Foods, Wal-Mart, Procter & Gamble, Ford Motor Co., M.S. Carriers and J.B. Hunt, said CEO Yossi Sheffi. "The Internet marketplace will build on these relationships by providing carriers and shippers the opportunity to interact with each other, bid competitively, and track and trace shipments in real-time."
Sheffi is the original founder of PTCG, a company that was acquired by Sabre in 1996 as the core of Sabre's Logistics Group. He is taking a partial leave of absence as director of the Center for Transportation Studies at MIT.
Logistics.com is headquartered in Burlington, MA, and has an office in Oklahoma City.