Freightos Group Acquires 7LFreight, Expanding Digital Air Cargo Across North America
January 17, 2022
The acquisition enables forwarders across the United States to access instant airline cargo pricing and eBookings across dozens of airlines on WebCargo, the world’s largest air cargo booking platform.
January 17 2022, NEW ORLEANS – Following two years of widespread Digital Air Cargo (DAC) adoption, the Freightos Group has acquired 7LFreight, a leading North American rate management company whose solutions support hundreds of forwarders and over 10,000 transportation professionals worldwide. With this acquisition, forwarders using 7LFreight will continue to have access to the same outstanding features and support, combined with a native integration to instant pricing and book air cargo via WebCargo, also a Freightos Group company.
Digital Air Cargo booking has become the gold standard for moving goods by air. By the end of 2021, over 29% of global air cargo capacity was available via WebCargo, driving a 1,000% year on year growth in eBookings in 2021. This acquisition solidifies WebCargo’s North American presence, bringing 7LFreight customers onto the world’s largest cargo booking platform which connects 30+ airlines and 10,000+ freight forwarding offices globally.
“As more airlines embrace Digital Air Cargo, we’ve been able to give forwarders the digital tools to book cargo instantly, saving time and money,” said Manel Galindo, CEO of WebCargo. “7LFreight has been working towards that same goal and we’re excited to combine our experience and networks so more forwarders can offer quicker, cheaper and more predictable air cargo services while maintaining the highest standard of customer care.”
“At 7LFreight, our commitment has always been to simplify freight pricing and quote automation. This partnership is the next logical step in delivering on that promise to our customers,” said Brennan O’Dowd, CEO of 7LFreight. “We’ve competed with WebCargo over the years, and I believe that by joining our data sets and capabilities, we’ll be able to provide an industry-leading, comprehensive global solution to our customers. This acquisition makes a lot of sense for our customers as well as our employees.”
“We’re extremely proud to be taking this step forward with 7LFreight,” said Zvi Schreiber, Freightos Group CEO. “This acquisition helps us continue to build Freightos’ vision of creating a truly vendor-neutral global freight booking platform.”
7LFreight is a highly effective and valuable tool for the Freight Forwarding industry. Over the years, 7LFreight has continued innovating and enhancing its product offerings. With its uncompromising commitment to providing world-class customer service, 7LFreight works with more than 250 Freight Forwarders.
Their solution is deployed in over 1,250 offices worldwide, and more than 10,000 transportation professionals rely on 7LFreight as their primary source of rate information. Those users generate more than 4 million rate quotes per month.
7LFreight’s principal solutions include their Rate Management Platform (www.7LFreight.com) and their global flight schedule tool; 7LFlights (www.7LFlights.com). More information can be found at www.7LFreight.com
About Freightos Group
International trade is the core of the world economy. However, the $500 billion global freight market powering trade remains one of the last offline industries, increasing costs and reducing reliability for the world’s supply chains.
Freightos ® is the global freight booking platform, connecting carriers, freight forwarders, and importers/exporters. Freightos makes international shipping faster, more cost-effective and reliable, expanding trade between the people of the world. The Freightos Group includes three business units:
WebCargo by Freightos is the digital pricing, booking and sales platform for logistics providers. WebCargo is the dominant Digital Air Cargo (DAC) platform, partnering with leading airlines to serve 2,000+ freight forwarders across over 10,000 offices. These forwarders represent more than 30% of the world market. WebCargo also provides real-time ocean bookings, as well as software as a service tools for forwarders to digitalize freight sales.
Freightos.com is the largest digital freight marketplace, connecting logistics providers and importers/exporters for instant pricing, booking, and shipment management. Over twelve thousand SMEs and enterprise organizations have sourced shipping services via Freightos. Together with partners such as Alibaba.com, Freightos.com enables smoother global shipping.
Freightos Data publishes the Freightos Baltic Index (FBX), the industry’s key daily benchmark of container shipping prices, as well as other data products which improve supply chain decision making, planning, and pricing transparency.
Founded by serial entrepreneur Zvi Schreiber in 2012, the Freightos Group is a widely recognized LogTech (logistics technology) leader with a worldwide presence and a broad customer network. Freightos has raised $120 million from leading venture funds and strategic investors.