CoLane, an artificial intelligence-powered freight brokerage, has hired Rachael K. Leggett as Vice President of Revenue.
Leggett’s career includes leadership roles at XPO, Transplace, and Schneider National. At XPO, she served as VP of Strategic Accounts supporting the Industrials, with a key focus on Automotive. She’s supported change management through 3 M&A processes, including XPO’s $335MM acquisition of Pacer and $3B acquisition of Con-Way. Leggett also serves as Vice President, Programs for the CSCMP Chicago Roundtable, and as a Roundtable Regional Advisor for the CSCMP Roundtable Executive Committee.
“We needed to round out our senior team with someone who has done nothing but grow and scale logistics companies, and that describes Rachael to a T,” said Parker Holcomb, founder and CEO of CoLane. “Because of her deep industry experience, she's able to authentically communicate how we’re different, how we’re deploying technology to put out a better experience for our customers,”
In addition to sales roles, Leggett has experience in “value-add” roles, where she analyzed data to optimize shipments and reduce operating costs. There, she saw the power of data and how minor adjustments mean the difference between profit and loss.
“I joined CoLane because I want to be part of the technology disruption, rather than being a reactionary to it” Leggett said. “Transportation, supply chain and logistics has been waiting with bated breath for technology to really fast forward change and create differentiation. But there hasn’t been any unified movement or widespread impact on the industry. But I see it at CoLane. It’s exciting. And my job will be to move the industry in our direction.”
CoLane is building software that automates the match among loads and trucks so it’s done in minutes. When such negotiations are done via phone, as is the norm, matching can take hours.
That’s because the industry is so fragmented: According to a CoLane analysis U.S. Department of Transportation data, there are over 370,000 active trucking companies in the United States. The largest 100 carriers only make up 10% of the total market. That means that to access 90% of the market, a shipper would have to deal with 170,000 different trucking companies.
Much of CoLane’s technology operates behind the scenes, allowing the team to achieve its clients’ goals more efficiently.
For instance, the company is building a virtual assistant, named Archie, to handle continuous communications with tens of thousands of parties, including drivers, at a time. These communications occur via email, text and even fax, which remains a common tool in the trucking industry, without drivers ever knowing the transaction is automated.
“By communicating with drivers the way they want to and in natural language, we achieve this excruciating match between driver and a load in minutes and at a lower cost,” Holcomb said. “We then pass these cost savings on to our customers.”
CoLane’s technology also is being designed to learn and anticipate its customers’ shipping needs and even problems. For instance, CoLane’s algorithms will be able to digest billions of data points and use them to predict when a city is in short supply of drivers based on pricing and response times, and then warn customers of the crunch.
Such insight will not require an app or download. Studies have shown that less than 1 percent of freight flows through matching apps.
CoLane serves Enterprise customers that ship high volumes on dedicated lanes.