– Dedicated Freight Management, Digital
Negotiation Experience, and Load Insights keep trucks fully loaded
at the best rates –
NEW
YORK, Aug. 18, 2022 /PRNewswire/ -- Transfix,
Inc. ("Transfix"), the Intelligent Freight Platform™, today
announced the release of a new suite of features for its Fleet
Management System (FMS). Now, carriers can book and manage
dedicated freight and contract rates with some of the nation's
largest shippers, digitize their bidding experience for quicker
negotiation, and easily identify attractive loads that offer great
rates or flexible pickup times. These new features support
carriers' efforts to keep their trucks fully loaded and procure the
best available rates. This can help shield them from market
volatility– and the impacts of seasonality and cyclicality– to
maximize efficiency, service, and costs.
"Through our new FMS offerings, we continue to bring
digitization to the supply chain, unlocking opportunities for
growth and innovation with our partners," said Tony Tzeng, Chief Product Officer at Transfix.
"The new features are designed to help carriers use load insights
more effectively and make better use of their resources, adding
value to both our carrier and shipper communities."
The updates to Transfix FMS include:
- Dedicated Freight Management. Carriers get enhanced
visibility into pending and past load offers for both spot and
dedicated lanes, receive notifications when rates need to be
extended or re-negotiated, and oversee all freight in one unified
experience.
- Digital Negotiation Experience. Digitization of the
negotiation experience allows carriers to manage and win bids at an
acceptable rate, and do so more efficiently than the historically
manual "phone calls and emails" method. Carriers can
accept counter-offers, view bids on freight for easier load
management, and receive notifications to give them the best chance
of winning a load.
- Load Insights. Dispatchers can leverage insights into
load characteristics, such as "Popular Load" and "Great Rate," to
understand why they're worth booking.
Kimberly Guerrero, a dispatcher
at GRD, said, "Transfix FMS and its new features have made things a
lot easier. Not only can I clearly understand what I'm bidding for,
but I also get robust details on all of my loads. It's so simple to
adjust and arrange my loads accordingly. With Transfix FMS, I can
really focus and stay organized; it helps me run my business a lot
more smoothly."
"Our team is focused on delivering speed-to-value solutions that
allow shippers and carriers to thrive," added Tzeng. "We will
continue listening to our carrier community to create innovative
features and products like these enhancements to Transfix FMS. Our
FMS supports a dedicated contract management page for carriers,
digitizing the negotiating experience and displaying what makes a
load attractive upfront. We remain committed to identifying new
ways to boost transparency and efficiency across the supply
chain."
The new suite of features for Transfix FMS is live today. Visit
Transfix.io for more on its booking experience or carrier
network.
As announced on September 21,
2021, Transfix has entered into a definitive business
combination agreement, as subsequently amended, with G Squared
Ascend I Inc. ("G Squared Ascend I") (NYSE: GSQD), a special
purpose acquisition company sponsored by affiliates of G Squared,
that is expected to result in Transfix becoming a publicly listed
company. Completion of the business combination is subject to
customary closing conditions.
About Transfix
Transfix drives modern supply chain impact at scale with its
Intelligent Freight Platform™. By combining enterprise-grade,
machine-learning technology with intuitive software and dedicated
supply chain experts, Transfix is enabling organizations to deliver
with high performance and high reliability, drive long-term
strategy and capacity planning, take empty miles off the road, and
optimize their networks, at scale. Today, Transfix connects
shippers to nearly 30,000 carriers with real-time, many-to-many
freight matching and the visibility they need to make their supply
chains more efficient and environmentally responsible. Learn more
at Transfix.io.
About G Squared
G Squared is a global venture capital firm that partners with
dynamic companies throughout their life cycles as a complete
capital solutions provider, working to create value for companies,
investors, employees, and other stakeholders. The firm focuses on
investments in growth-stage technology companies and has invested
in over 100 portfolio companies since it was founded in 2011. The
firm's affiliate, G Squared Ascend I Inc. ("G Squared Ascend I"),
offers transformative private companies a path to public markets
via SPAC. For more information on G Squared and its portfolio,
visit: www.gsquared.com. For more information on G Squared Ascend
I, visit: www.gsquaredascend.com.
Media Contact
Chelsea Horn, Carve
Communications for Transfix
chelsea@carvecomms.com
(210) 378-8580
Investor Contact
Investors@transfix.io
Important Information and Where to
Find It
In connection with the proposed business combination involving G
Squared Ascend I and Transfix, Transfix Holdings, Inc. ("Transfix
Holdings") has filed a registration statement on Form S-4, as
amended (the "Registration Statement") with the Securities and
Exchange Commission (the "SEC"). The Registration Statement
includes a proxy statement of G Squared Ascend I and a prospectus
of Transfix Holdings. Additionally, G Squared Ascend I and Transfix
Holdings will file other relevant materials with the SEC in
connection with the business combination. Copies may be obtained
free of charge at the SEC's website at www.sec.gov. Security
holders of G Squared Ascend I are urged to read the proxy
statement/prospectus and the other relevant materials when they
become available before making any voting decision with respect to
the proposed business combination because they will contain
important information about the business combination and the
parties to the business combination and related matters. The
information contained on, or that may be accessed through, the
websites referenced in this communication is not incorporated by
reference into, and is not a part of, this communication.
Participants in the
Solicitation
G Squared Ascend I and its directors and officers may be deemed
participants in the solicitation of proxies of G Squared Ascend I's
stockholders in connection with the proposed business combination.
Transfix and its officers and directors may also be deemed
participants in such solicitation. Security holders may obtain more
detailed information regarding the names, affiliations and
interests of certain of G Squared Ascend I's executive officers and
directors in the solicitation by reading G Squared Ascend I's
Annual Report on Form 10-K for the year ended December 31, 2021 filed with the SEC on
April 13, 2022, and the proxy
statement/prospectus and other relevant materials filed with the
SEC in connection with the business combination when they become
available. Information concerning the interests of G Squared Ascend
I's participants in the solicitation, which may, in some cases, be
different than those of their stockholders generally, will be set
forth in the proxy statement/prospectus relating to the business
combination when it becomes available.
No Offer or Solicitation
This communication is for informational purposes only and is not
intended to and shall not constitute a proxy statement or the
solicitation of a proxy, consent or authorization with respect to
any securities in respect of the proposed business combination and
shall not constitute an offer to sell or the solicitation of an
offer to buy any securities or constitute a solicitation of any
vote or approval, nor shall there be any sale, issuance or transfer
of securities in any jurisdiction in which such offer, solicitation
or sale would be unlawful prior to registration or qualification
under the securities laws of any such jurisdiction.
Forward Looking
Statements
The information in this communication may contain statements
that are not historical facts but are "forward-looking statements''
within the meaning of Section 27A of the Securities Act of 1933, as
amended, and Section 21E of the Securities Exchange Act of 1934, as
amended, and within the meaning of "safe harbor" provisions under
the United States Private Securities Litigation Reform Act of 1995.
All statements, other than statements of present or historical fact
included in this communication, regarding G Squared Ascend I's
proposed business combination with Transfix, G Squared Ascend I's
ability to consummate the transaction, the benefits of the
transaction and the combined company's future financial
performance, as well as the combined company's strategy, future
operations, estimated financial position, estimated revenues and
losses, projected costs, prospects, plans and objectives of
management are forward-looking statements. When used in this
communication, the words "could," "should," "will," "may,"
"believe," "anticipate," "intend," "estimate," "expect," "project,"
the negative of such terms and other similar expressions are
intended to identify forward-looking statements, although not all
forward-looking statements contain such identifying words. These
forward-looking statements are based on management's current
expectations and assumptions about future events and are based on
currently available information as to the outcome and timing of
future events. Except as otherwise required by applicable law, G
Squared Ascend I and Transfix disclaim any duty to update any
forward-looking statements, all of which are expressly qualified by
the statements in this section, to reflect events or circumstances
after the date of this communication. G Squared Ascend I and
Transfix caution you that these forward-looking statements are
subject to numerous risks and uncertainties, most of which are
difficult to predict and many of which are beyond the control of
either G Squared Ascend I or Transfix. In addition, G Squared
Ascend I and Transfix caution you that the forward-looking
statements contained in this communication are subject to the
following factors: (i) the occurrence of any event, change or other
circumstances that could delay the business combination or give
rise to the termination of the agreements related thereto; (ii) the
outcome of any legal proceedings that may be instituted against G
Squared Ascend I or Transfix following announcement of the
transactions; (iii) the inability to complete the business
combination due to the failure to obtain approval of the
shareholders of G Squared Ascend I, or other conditions to closing
in the transaction agreement; (iv) the risk that the proposed
business combination disrupts G Squared Ascend I's or Transfix's
current plans and operations as a result of the announcement of the
transactions; (v) Transfix's ability to realize the anticipated
benefits of the business combination, which may be affected by,
among other things, competition and the ability of Transfix to grow
and manage growth profitably following the business combination;
(vi) costs related to the business combination; (vii) changes in
applicable laws or regulations; (viii) rollout of Transfix's
business and the timing of expected business milestones, (ix) the
effects of competition on Transfix's business, (x) supply shortages
in the materials necessary for the production of Transfix's
products, (xi) risks related to original equipment manufacturers
and other partners being unable or unwilling to initiate or
continue business partnerships on favorable terms, (xii) the
termination or reduction of government clean energy and electric
vehicle incentives, (xiii) delays in the construction and operation
of production facilities, (xiv) the amount of redemption requests
made by G Squared Ascend I's public stockholders, (xv) changes in
domestic and foreign business, market, financial, political and
legal conditions, and (xvi) the possibility that Transfix may be
adversely affected by other economic, business, and/or competitive
factors. Should one or more of the risks or uncertainties described
in this communication, or should underlying assumptions prove
incorrect, actual results and plans could differ materially from
those expressed in any forward-looking statements. You should
carefully consider the risks and uncertainties described in the
"Risk Factors" section of G Squared Ascend I's final prospectus
filed with the SEC on February 8,
2021 and its Annual Report on Form 10-K for the year ended
December 31, 2021 filed with the SEC
on April 13, 2022, and other
documents of G Squared Ascend I filed, or to be filed, including
the proxy statement/prospectus, with the SEC. Additional
information concerning these and other factors that may impact the
operations and projections discussed herein can be found in G
Squared Ascend I's filings with the SEC. G Squared Ascend I's SEC
filings are available publicly on the SEC's website at
www.sec.gov.
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SOURCE Transfix