Last month, West Palm Beach, Fla.-based Greenscreens.AI, a dynamic pricing infrastructure for the truckload spot market that delivers buy and sell-side market intelligence and business insights, heralded its initial round of outside capital investment, which was led by Tiger Capital. Company officials said that it will leverage this investment “to deliver a ground-breaking neutral platform, driven by machine-learning, for predictive pricing intelligence as well as revenue and yield optimization.”
Greenscreens.AI said that additional investments, for this round of financing, came from Flyer One Ventures, Cambridge Capital, Navigate Ventures, Jones Capital, Red Door Capital, Overton Venture Capital, Operator Stack Fund, and REFASHIOND Ventures.
Greenscreens.AI CEO and Chief Product Officer Dawn Salvucci-Favier told LM that this investment will be deployed to help the company accelerate its growth in 2022.
“We will be looking to expand our team in the areas of sales & marketing, customer success & development,” she said.
And from a development perspective Salvucci-Favier said Greenscreens.AI intends to focus on:
With its target customers comprised of 3PLs and brokerages, Salvucci-Favier said that these enhanced capabilities and growth in the company’s customer base—as well as growth in its aggregated data network—will provide customers with various benefits.
These benefits include things like continuous improvement to the speed and accuracy of its predictive pricing allowing its customers to quote more business and win more business more profitably. And she added that it will also provide the ability to seamlessly connect the customer demand and carrier supply through its flexible connectivity tools, TMS extensions and its integrated partner ecosystem.
“At Greenscreens we believe in ‘meeting the customer where they are’ in their digital transformation,” she said. “Greenscreens.AI intends to focus over the 12-to-18 months on furthering our efforts to be the leading neutral platform for short-term predictive pricing for the LSP's while making initial steps toward our longer-term vision of providing a Revenue & Yield Optimization solution for the entire logistics ecosystem, she said.
This investment comes at a time when the Domestic Transportation Management/Freight Brokerage 3PL segment grew 39.5% annually, in 2021, to $127.2 billion, according to Milwaukee-based supply chain consultancy Armstrong & Associates.
“Enabling freight brokers to quickly provide customers fast and accurate spot market pricing through AI and machine learning can lead superior growth for those operating in this segment,” said Evan Armstrong, President of Armstrong & Associates. “Greenscreens’ targeted solution addresses one of freight brokers’ largest pain points.”
Ben Gordon, Executive Chairman of Greenscreens.AI and Managing Partner of Cambridge Capital, observed that there is significant discussion in the logistics industry about leveraging AI and analytics to make better decisions.
“Most of that is not actually available in the market yet, but the Greenscreens.AI team has built a fully functional platform to disrupt what we believe is a multi-billion-dollar market in this area for yield management,” he said.