CHICAGO, Oct. 27, 2022 (GLOBE NEWSWIRE) -- An October article in Forbes identified Chicago as the “Future of Logistics Tech,” naming Redwood Logistics along with several other Chicago companies, including project44 and FourKites, as leading examples of investment and innovation in the supply chain and logistics industries.
“Chicago's logistics tech sector represents a core aspect of our innovation and startup ecosystem. We're home to some of the best founders who are driving innovation and solving some of the world's most significant challenges when it comes to supply chain, logistics, and distribution," said Mark Tebbe, Chair of World Business Chicago's Innovation & Venture Council.
The article, written by Pete Wilkins, author of “Purpose First Entrepreneur,” outlines that Chicago’s Transportation, Distribution and Logistics (TD&L) industry generates $24 billion annually in output and employs more than 260,000 individuals. Chicago has over 16,000 TD&L firms located in the metro area, which is the highest in the nation.
Wilkins cites Redwood’s recent acquisition by AEA Investors as an example of the 802% increase in growth capital investment in Chicago — the highest among peer cities — between 2019 and 2021.
Wilkins also highlights Redwood as a next-generation leader in third-party logistics, evidenced by its recent designation as a modern 3PL and a digital fourth-party logistics provider (4PL) in Gartner’s “Innovation Insight: 4PL Outsourcing Models Reduce Logistics Risk and Optimize Cost,” published Sept. 12 by analysts Matthew Beckett and David Gonzalez.
“Redwood’s 21-year history started as a brokerage and there was no better place than Chicago to provide customers with reliable assets and third-party freight services,” said Mark Yeager, CEO, Redwood Logistics. “Today, Redwood has evolved to a digital logistics integrator and a single point of contact that can design and execute end-to-end supply chain innovations, only possible with the support of sophisticated FreightTech solutions.”
Redwood’s Logistics Platform as-a-service (LPaaS)™ enables companies to create a harmonized network between proven physical and digital solutions for superior optionality, control and profitability -- weaving systems and processes together with drag-and-drop functionality. This ‘open digital 4PL’ architecture leverages RedwoodConnect™, Redwood’s proprietary supply chain integration platform to deliver modern 3PL operations and singular visibility.
Click here to read “Why Chicago Is Home To The Future Of Logistics Tech” in the October issue of Forbes.
About Redwood Logistics
Redwood Logistics, a leading logistics platform company headquartered in Chicago, has provided solutions for moving and managing freight for more than 20 years. The company’s diverse portfolio includes digital freight brokerage, flexible freight management and innovative platform services all wrapped into a revolutionary logistics and technology delivery model — Logistics Platform as a Service (LPaaS). LPaaS utilizes an open platform for digital logistics that empowers shippers to seamlessly mix-and-match partners, technologies and solutions into their own unique digital supply chain fingerprint. Redwood connects a wide range of customers to the power of supply chain management, technology and the industry’s brightest minds. For more information, visit https://www.redwoodlogistics.com/.
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