Freight Technologies, Inc. Completes Trucker Tools Integration, Significantly Expanding Network Scope and Reach

Rhea-AI Summary

Fr8App announces integration with Trucker Tools, expected to increase load offers by 75% and grow carrier network twentyfold. Seamless integration streamlines process of connecting shippers with carriers, improving efficiency and supply chain management. Collaboration empowers shippers with comprehensive solution for load posting and carrier selection, while providing truck drivers with more opportunities to book loads conveniently. Integration is now live and available to Fr8App's customers.

Positive

• Integration expected to increase load offers by 75%
• Integration to grow carrier network in the United States by as much as twentyfold
• Integration streamlines process of connecting shippers with carriers, improving efficiency and supply chain management
• Collaboration empowers shippers with comprehensive solution for load posting and carrier selection
• Integration provides truck drivers with more opportunities to book loads conveniently

Negative

• None.

Fr8App Integration with Trucker Tools Brings New Efficiency to Logistics Operation

HOUSTON, July 06, 2023 (GLOBE NEWSWIRE) -- Freight Technologies, Inc. (Nasdaq: FRGT) (“Fr8Tech”), a technology company whose custom-developed, industry-leading Fr8App freight-matching platform powered by AI and machine-learning and offers a real-time portal for B2B cross-border and domestic shipping within the USMCA region, today announces the completion of its integration with Trucker Tools, one of the most utilized carrier relationship management platforms in the United States. The integration is expected to increase the offers on loads by 75% and grow the carrier network in the United States by as much as twentyfold.

Fr8App’s seamless integration with Trucker Tools marks a significant advancement in the logistics industry. This integration brings together the power of Fr8App’s innovative freight platform and Trucker Tools’ extensive network of over 315,000 carriers across the United States. With this collaboration, every load posted on Fr8App’s platform, originating from and destined to locations within the U.S., including major border ports like Laredo, becomes instantly available to the vast pool of truck drivers who rely on Trucker Tools for load bookings.

Through this integration, Fr8App streamlines the process of connecting shippers with carriers, ensuring that valuable time and resources are maximized. Truck drivers using Trucker Tools can effortlessly view and bid on available loads posted on Fr8App, creating a streamlined and efficient marketplace. Fr8App's platform automatically receives bids from truck drivers and, if the rate aligns with the target, accepts the bid instantaneously.

This integration not only enhances the accessibility and visibility of available loads for truck drivers but also significantly improves supply chain management for shippers. By leveraging the expansive Trucker Tools network, Fr8App broadens the reach of load availability, connecting shippers with a larger pool of qualified carriers. This collaborative effort simplifies the logistics process, improves efficiency and ensures that both shippers and carriers benefit from optimized operations.

Fr8App and Trucker Tools are excited about the possibilities this integration presents to the freight industry. By seamlessly connecting the two platforms, they empower shippers with a comprehensive solution for load posting and carrier selection while providing truck drivers with a wider range of opportunities to book loads conveniently. As this collaboration continues to evolve, Fr8App and Trucker Tools are committed to driving innovation, efficiency, and success in the logistics sector, delivering unprecedented value to all stakeholders involved.

Javier Selgas, CEO of Fr8Tech, said: “At Fr8App, we are proud to be a technology-driven company that is leading the charge in revolutionizing the freight industry. We believe that our state-of-the-art freight-matching platform offers a real-time solution that provides flexibility, visibility and simplicity to our customers. Our integration with Trucker Tools is a significant milestone in our commitment to offering innovative and efficient logistics solutions. As we continue to integrate with key players in the industry, we aim to become a pivotal player in the logistics technology ecosystem, providing the main cross-border solution for shippers in the USMCA region. We are excited about the endless possibilities that technology offers and look forward to leveraging it to the fullest to bring value to our clients and stakeholders.”

“We are excited to announce the integration of our carrier relationship management platform with Fr8App,” said Kary Jablonski, CEO of Trucker Tools. “This integration will significantly increase the range of loads available to carriers using both Fr8App and Trucker Tools. With our automation and Book-It-Now capabilities, Fr8App will be able to reach a broader carrier network within the U.S. and allow those carriers to book Fr8App loads more easily.”

The integration of Fr8App and Trucker Tools is now live and available to Fr8App's customers. With this integration, Fr8Tech is well-positioned to continue its growth trajectory and deliver world-class logistics solutions to its customers.

About Trucker Tools

Trucker Tools, based in Reston, Virginia, is the leading provider of trip planning, shipment visibility, predictive freight matching and automated booking solutions for the transportation industry. Its ground-breaking Smart Capacity® platform uses accurate, real-time data and powerful algorithms to optimally match freight by predicting when and where capacity will become available, days in advance. The company’s popular driver smartphone app has been downloaded by nearly 2.5 million owner operators and small-carrier fleets to access information and services conveniently while on the road. Included in the smartphone app is Book It Now®, the industry’s first digital load booking app that automates and streamlines the load search and booking process for drivers and brokers, saving time and money. Trucker Tools’ load tracking solution is a robust feature in the app that connects drivers with carriers and freight brokers, automating the provision and collection of real-time shipment tracking and eliminating manual check calls. Visit Trucker Tools at www.truckertools.com or contact us directly at: sales@truckertools.com.

About Freight Technologies Inc.

Freight Technologies (Nasdaq: FRGT) (“Fr8Tech") is a technology company developing solutions to optimize and automate the supply chain process. Its wholly owned subsidiary, Freight App, Inc. (Fr8App), is a B2B cross-border shipping marketplace in the USMCA region powered by AI and machine learning. Focused on making shipping transparent and efficient, Fr8App provides carriers with increased growth opportunities and shippers with flexibility, visibility and simplicity for the once-complex process of international over-the-road (OTR) shipping. Fr8App uses its proprietary technology platform to connect carriers and shippers and significantly improve matching and operation efficiency via innovative technologies such as live pricing and real-time tracking, digital freight marketplace, broker, transportation management, fleet management, and committed capacity solutions. The company is headquartered in Houston, Texas. For more information, please visit fr8technologies.com.

Forward-Looking Statements

This press release includes “forward-looking statements” within the meaning of the “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995. Freight Technologies' and Fr8App’s actual results may differ from their expectations, estimates, and projections and, consequently, you should not rely on these forward-looking statements as predictions of future events. Words such as “expect,” “estimate,” “project,” “budget,” “forecast,” “anticipate,” “intend,” “plan,” “may,” “will,” “could,” “should,” “believes,” “predicts,” “potential,” “continue,” and similar expressions (or the negative versions of such words or expressions) are intended to identify such forward-looking statements. These forward-looking statements include, without limitation, Freight Technologies’ and Fr8App’s expectations with respect to future performance and anticipated financial impacts of its acquisition of Fr8App.

These forward-looking statements involve significant risks and uncertainties that could cause the actual results to differ materially from those discussed in the forward-looking statements. Most of these factors are outside Freight Technologies’ and Fr8App’s control and are difficult to predict. Factors that may cause such differences include, but are not limited to: (1) the impact of the COVID-19 pandemic on Fr8App’s business; (2) the inability to obtain or maintain the listing of Freight Technologies’ ordinary shares on Nasdaq; (3) the ability to recognize the anticipated benefits of the merger, which may be affected by, among other things, competition and the ability of Fr8App to grow, manage growth profitably and retain its key employees; (4) costs related to the merger; (5) changes in applicable laws or regulations; (6) the possibility that Freight Technologies or Fr8App may be adversely affected by other economic, business and/or competitive factors; (7) risks relating to the uncertainty of the projected financial information with respect to Fr8App; (8) risks related to the organic and inorganic growth of Fr8App’s business and the timing of expected business milestones; and (9) other risks and uncertainties identified, including those under “Risk Factors,” to be filed in Freight Technologies' other filings with the SEC. Freight Technologies cautions that the foregoing list of factors is not exclusive. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those indicated or anticipated by such forward-looking statements. Freight Technologies and Fr8App caution readers not to place undue reliance upon any forward-looking statements, which speak only as of the date made. Freight Technologies and Fr8App do not undertake or accept any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements to reflect any change in their expectations or any change in events, conditions or circumstances on which any such statement is based.

Fr8Tech Contact:

investors@fr8technologies.com

Corporate Communications
IBN (InvestorBrandNetwork)
Los Angeles, California
www.InvestorBrandNetwork.com
310.299.1717 Office
Editor@InvestorBrandNetwork.com

FAQ

What is the expected impact of the integration?

The integration is expected to increase load offers by 75% and grow the carrier network in the United States by as much as twentyfold.

How does the integration streamline the process of connecting shippers with carriers?

The integration streamlines the process by making every load posted on Fr8App's platform instantly available to the vast pool of truck drivers who rely on Trucker Tools for load bookings.

What benefits does the integration provide for shippers and carriers?

The integration empowers shippers with a comprehensive solution for load posting and carrier selection, while providing truck drivers with more opportunities to book loads conveniently.

Is the integration currently available?

Yes, the integration is now live and available to Fr8App's customers.