Flexport sold the Convoy digital freight platform to DAT Freight & Analytics. Terms of the deal remain undisclosed.
Flexport picked up Convoy’s assets two years ago after the freight tech unicorn shut down. It rebuilt and relaunched the platform over 18 months, turning it into a neutral layer for brokers, carriers, and shippers.
Flexport CEO Ryan Petersen confirmed the move paid off big. 
“Over the past 18 months, we rebuilt and relaunched the [Convoy] platform as a neutral digital freight execution layer that serves brokers, carriers, and shippers across the market,” Ryan Petersen said.
“That investment paid off. The platform is now stronger, more widely used, and far more valuable than when we acquired it. As the Convoy Platform matured, it was clear that to achieve its full potential, it needed to be a neutral infrastructure layer.”
The sale lets Flexport refocus on its main freight forwarding business.
The deal comes months after Flexport launched a new suite of AI tools and announced plans to roll out new products twice a year, following Airbnb CEO Brian Chesky’s playbook. The next wave of releases is expected “late summer.”
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