Flexport Sells Convoy Platform to Freight Marketplace Leader DAT

The story of former logistics startup Convoy has taken another major turn. Flexport has announced that it is selling the Convoy Platform to freight marketplace operator DAT Freight & Analytics, marking the latest chapter in the once high-flying company’s journey.

The agreement comes nearly two years after Flexport acquired Convoy’s technology following the Seattle-based startup’s collapse in 2023. At the time, Flexport stepped in to preserve Convoy’s digital freight marketplace and later relaunched the platform.

Now, the technology will be managed by DAT Freight & Analytics, a Beaverton, Oregon-based company and business unit of publicly traded industrial conglomerate Roper Technologies. DAT operates the largest truckload freight marketplace in North America, making the acquisition a strategic move to strengthen its logistics network.

While Flexport did not disclose the financial terms of the transaction, FreightWaves reported that the deal is valued at approximately $250 million.

Convoy’s Rise and Fall

Convoy was once considered one of Seattle’s biggest startup success stories. The digital freight brokerage built a platform that connected shippers with trucking carriers, aiming to make freight transportation more efficient through technology.

Investor confidence helped the company reach a valuation of $3.8 billion in 2022, making it one of the region’s most valuable privately held startups.

However, its rapid growth came to an abrupt end later that year. Convoy shut down operations after facing a prolonged freight recession and weaker investor interest, two factors that made it difficult for the company to continue operating.

Following the shutdown, Flexport purchased Convoy’s technology and intellectual property, later bringing the freight marketplace back to life under its ownership.

DAT Expands Its Freight Network

With the acquisition, DAT plans to integrate Convoy’s platform into its existing marketplace to provide customers with more freight matching opportunities and improved network capabilities.

DAT CEO Jeff Clementz said the acquisition reflects the company’s continued focus on expanding value for customers across the freight industry.

According to Clementz, combining the two platforms will create a broader freight-matching network, help customers manage more shipping loads, increase business opportunities, and offer greater flexibility across the marketplace.

The deal also continues DAT’s recent expansion efforts. Earlier this year, the company acquired Outgo, a Seattle startup that provides banking and financial services tailored for freight carriers.

Convoy Founders Have Moved On

Since Convoy’s shutdown, its founders have taken on new leadership roles elsewhere in the technology and logistics industries.

Co-founder and former CEO Dan Lewis joined Flexport as a technical advisor after the acquisition but departed in 2024. He currently serves as a Corporate Vice President at Microsoft.

Meanwhile, Convoy co-founder Grant Goodale joined Florida-based logistics company Ryder earlier this year as its Chief Product and Technology Officer.

Although Convoy’s brand has changed hands once again, its technology continues to live on. With DAT taking over the platform, the software developed by the former Seattle unicorn is expected to remain part of North America’s evolving digital freight ecosystem, even as the company itself becomes another chapter in startup history.

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