Tommy Barnes

Fintech platform Navix raises $5M, captures interest of industry angel investors

Logistics fintech platform Navix announced Tuesday it has secured $5 million in seed funding from several strategic and angel investors, including Tommy Barnes, logistics veteran and chief revenue officer of less-than-truckload platform MyCarrier, and Rob Estes, chairman and CEO of LTL carrier Estes Express Lines.

In an interview with FreightWaves, Navix co-founder Eric Krueger explained that after founding the company in June 2021 it has been flying under the radar — self-funded — and working...

What’s all the flak over FAK?

LTL costing and pricing have always been arcane exercises. Freight comes in all shapes and sizes. The mix of freight constantly changes. Rates have been determined by an 87-year-old system that assigns a numeric classification–from 50 to 500–to all LTL shipments. There are 18 product classifications to wade through. 

In an attempt to simplify matters, the LTL gods decades ago came up with a classification known as freight all kinds (FAK). An FAK rate was arrived at by calculating the weighted...

https://www.freightwaves.com/news/whats-all-the-flak-over-fak

MyCarrier’s eBOL solution touted for reducing waste in LTL industry

Electronic bills of lading reduce waste and inefficiencies in LTL industry

Less-than-truckload shipping management platform MyCarrier announced Tuesday the efficiencies its electronic bill of lading (eBOL) capabilities have brought to the industry.

The Scottsdale, Arizona-based technology company said its offering is the first multi-carrier eBOL solution and has proved to “ease freight strains and drive unprecedented operational improvements, while reducing carbon emissions and paper waste.” 

The company has processed more than 700,000 shipments with eBOLs through the...

https://www.freightwaves.com/news/mycarriers-ebol-solution-touted-for-reducing-waste-in-ltl-industry