Flexport agreed on July 28, 2025, to sell the Convoy Platform and related technology to DAT Freight & Analytics. The financial terms were not disclosed. This was a sale of technology—not a revival or sale of Convoy as an operating freight brokerage—and DAT said it would integrate the platform into its DAT One marketplace.
Flexport said it rebuilt the technology into a neutral freight-execution platform and described the deal as delivering a “massive return on investment.” Because neither the purchase price nor sale price was disclosed, that return cannot be independently calculated. DAT’s announcement and Flexport’s account frame the transaction as both a strategic handoff and a bet on automated freight matching.
What Flexport sold—and what it did not
DAT agreed to acquire the Convoy Platform from Flexport, including related intellectual property and technology. The public announcements describe capabilities such as automated freight matching, carrier bidding and load booking, carrier identity and safety verification, shipment tracking and ETA visibility, digital paperwork, proof of delivery, carrier payments and QuickPay, and a mobile app for carriers and owner-operators. They do not publish a complete asset inventory or the purchase agreement, so the precise scope of every transferred asset is not public.
Convoy’s original brokerage operation is a different matter. Convoy shut down in October 2023. Flexport’s subsequent acquisition focused on selected technology assets rather than Convoy as a company, its liabilities, or its former brokerage operation. The distinction matters: the 2025 transaction was not DAT buying Convoy as a functioning carrier marketplace or brokerage. Flexport’s November 2023 announcement said it planned to retain a small group from Convoy’s product and engineering teams.
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How Convoy’s technology moved from Flexport to DAT
| Date | What happened |
|---|---|
| October 2023 | Flexport acquired Convoy’s technology and related intellectual property after the brokerage shut down. Flexport’s employee announcement followed on November 1, 2023. |
| April 2024 | Flexport relaunched the technology as a freight-matching service available to brokers. |
| July 28, 2025 | Flexport announced its agreement to sell the Convoy Platform to DAT Freight & Analytics. The terms were not disclosed. |
| November 2025 | DAT announced that the platform had become a certified digital freight-matching partner with McLeod Software’s PowerBroker. |
| January 2026 | DAT said mutual DAT and BrokerPro customers could activate the integration at no additional charge, subject to an updated DAT service agreement. |
At the July 2025 announcement, DAT said nearly 30,000 carriers were using the app, primarily owner-operators and small trucking companies. DAT also said its DAT One marketplace handled nearly 700,000 loads posted daily. Both are company-reported figures tied to the announcement, not independent measurements. Flexport separately said it had brought “tens of thousands” of carriers back onto the platform; that wording should not be treated as the same measurement as DAT’s count.
Why Flexport bought Convoy’s technology
For Flexport, trucking could extend an international shipment beyond its ocean or air leg. In its 2023 announcement, the company said it intended to use the technology to expand trucking services across full truckload, less-than-truckload, drayage, cartage and, eventually, intermodal transportation.
Flexport also cited Convoy’s network and automation as reasons the assets could strengthen its logistics offering. It said Convoy had a network of more than 400,000 truck drivers and 80,000 carriers, and that its procurement technology automated the supply side for 98% of loads booked. Those figures are Flexport’s 2023 claims, not independently audited metrics. The strategic idea was to connect freight forwarding with more capable domestic transportation and software.
Why DAT was a logical buyer
DAT’s stated plan was to combine the platform’s automated matching with DAT One, its established subscription-based load board. The company described the tools as complementary: brokers could automate suitable loads while keeping more hands-on marketplace workflows for specialized or relationship-driven freight. DAT’s existing broker and carrier base, freight-posting network, market data and product relationships give it a distribution route that Flexport did not necessarily have for a neutral matching service.
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- Seamless Multi-Platform Compatibility: This Bluetooth shipping label printer works effortlessly with all major platforms, including Amazon, eBay, Shopify, USPS, UPS, Etsy, PayPal, Poshmark, DHL, and more, ensuring smooth and efficient label printing. (Note: Save the logistics label as a PDF file on the shipping platforms, then import it into the 'FlashLabel Pro' app for printing).
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DAT said the Convoy Platform would ultimately be integrated into DAT One. Its later announcements indicate continued commercialization beyond the asset transfer: in November 2025, it named the platform a certified digital freight-matching partner with McLeod Software’s PowerBroker; in January 2026, it announced activation for mutual DAT and BrokerPro customers at no additional charge, subject to an updated service agreement. These announcements do not establish universal availability, pricing for all customers, or that every feature is available in every workflow.
Why Flexport sold after less than two years
Flexport’s stated reason was focus. Its CEO, Ryan Petersen, said the sale would let the company concentrate capital and effort on its core business: global logistics, customs and technology. Flexport also argued that the platform could have more potential as neutral infrastructure for brokers, carriers and shippers across the market.
That neutrality is strategically significant. A freight forwarder that also competes for logistics business may face questions about whether a platform serving rival brokers is truly neutral. FreightWaves reported that this positioning could complicate Flexport’s forwarding business; treat that as industry analysis, not a complete or undisputed explanation from the companies. DAT, by contrast, sells marketplace and data products to a broad set of freight participants.
The sale can be read as a portfolio decision, not proof that the technology failed. Flexport says it improved the product and increased its value, then transferred it to a company with a larger marketplace distribution base. Flexport also said it would remain a DAT customer. At the same time, it gave up control of a technology layer that might have supported its wider logistics-platform ambitions. The public statements do not quantify the relative weight of those considerations.
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Did Flexport make money on the sale?
Flexport characterized the outcome as a “massive return on investment.” The transaction price was not disclosed, and the sources do not state Flexport’s original purchase price for the assets or its development and operating costs. The available information therefore does not establish a dollar profit, return multiple or net return. Convoy’s former private-market valuation is not a valid substitute for the value of selected technology assets acquired after the company shut down.
Independent reader supportYour contribution helps us test, update, and keep practical guides available for everyone.What the deal means for brokers and carriers
For brokers, the transaction points to a product strategy in which automated matching and a conventional load board can coexist. Automation can reduce repetitive work for suitable loads, but it does not remove the need for human negotiation, specialized handling or exception management. Before adopting a digital matching workflow, a brokerage should assess:
- Automation coverage: Which loads can be matched and executed with little manual intervention?
- Carrier quality and fraud controls: How does the service check identity, authority, insurance, safety and payment risk?
- Network fit: Are qualified carriers active on the brokerage’s lanes and equipment types?
- TMS integration: Does the workflow connect to the existing transportation management system, and what data moves in each direction?
- Visibility and documents: Are tracking, ETA changes, proof of delivery and shipment records synchronized?
- Payments and exceptions: Who handles carrier payments, disputes, cancellations, detention and accessorial charges?
- Pricing and control: What subscription or agreement applies, can staff override automated matches, and can shipment and performance data be exported?
For carriers, the practical questions are whether enough relevant freight appears on their lanes, how payment timing and eligibility work, what tracking and privacy requirements apply, and how the platform handles disputes and accessorial charges. A carrier should also weigh whether relying heavily on one marketplace would limit flexibility; using a matching platform does not inherently require abandoning other broker relationships.
Integration does not make the product a universal fit. DAT’s announcements establish particular integrations and terms for eligible customer groups, not a complete public catalog or a guarantee that every broker or carrier can use every feature. Availability can depend on plans, contracts, software integrations, onboarding and operating needs. Software can streamline matching, but it cannot by itself fix weak lane economics, insufficient freight volume, thin carrier density or difficult exceptions.
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What Convoy’s path says about freight technology
Convoy failed as an operating digital brokerage, but parts of its software, workflows and expertise retained value. Flexport acquired and rebuilt selected technology, then DAT bought the resulting platform to add automation to an established marketplace. The sequence illustrates how a freight-tech company’s operating model can fail while its technology remains useful under a different owner, customer base and distribution strategy.
For DAT, the test is whether integration makes matching easier without adding friction to broker workflows. For Flexport, the transaction narrows its direct role in a neutral freight-matching business while freeing resources for forwarding and customs. For customers, the relevant question is not the Convoy name alone, but whether the product fits their lanes, systems, carrier network and exception-handling requirements.
TechCrunch’s transaction coverage provides additional reporting on the sale, while DAT’s product-strategy explanation sets out how the company viewed automated and hands-on marketplace workflows.
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