TAMPA, Fla.--(BUSINESS WIRE)--Transflo, a leading mobile and cloud-based platform that automates and simplifies the supply chain process for more than 65,000 North American trucking companies and thousands of brokers and shippers, today announced significant leadership changes within the organization. The changes are part of the company’s ambitious growth plan and dedication to further removing friction from the supply chain.
Renee Krug has been named CEO of Transflo, allowing Frank Adelman to become Transflo’s chairman of the board, while Bill Vitti was announced as president and chief revenue officer.
“This is an exciting time for Transflo,” said Adelman, who served as the company’s CEO for the past eight years. “More than $115 billion in freight spend flows through our platform annually and we are on an accelerated path in rolling out leading edge SaaS and AI based solutions, resulting in impressive double-digit expansion in our customer base. Bringing in Renee and Bill -- two industry leaders with deep sector expertise, and a track record of innovation and executing strategic initiatives -- will further amplify our momentum. From shippers to brokers, to carriers and drivers, to factoring and financial solutions -- we offer a full holistic suite of solutions that will further extend our leadership position through our offerings.”
“Transflo is an industry leader with more than two million downloads of their Transflo Mobile app, the go-to tool for the 600,000 drivers using it every day,” said Krug. She added, “Our market position provides unrivaled connectivity, visibility, solutions, and data. With our unique insight into the market, we will bring differentiated, innovative, and data-driven solutions to all of our stakeholders.”
According to Adelman, the recent equity investment by the private equity firm Bregal Sagemount (“Sagemount”), who joins prior investors True Wind and Carousel Capital, along with the leadership additions, will be transformational. “The investment from Sagemount was a strategic and significant investment to provide capital that will accelerate our product roadmap, hire more top talent, and invest in our future,” Adelman said. “Renee and Bill are uniquely qualified to help lead us to more rapid growth, both organically and through strategic acquisitions.”
Krug has a diverse background in the transportation industry, having recently served as CEO of GlobalTranz, a leading third-party logistics provider with more than $2 billion in annual revenue. She also has experience on the carrier side from her leadership roles at Swift Transportation, America’s largest full truckload carrier, and shipper experience from Honeywell. In 2018, Krug was presented with the Distinguished Women in Logistics Award, by Women in Trucking.
Vitti joins Transflo as president, with more than 25 years’ experience in the transportation industry. Most notably, he served as chief commercial officer for Truckstop.com, where he helped drive the company to unicorn status with a valuation of over $1 billion. Vitti was also president of Swift Logistics, a leading brokerage and 3PL provider, and head of marketing and strategy for Swift Transportation.
“Both Renee and I have worked on the carrier, shipper and broker side, as well as in 3PL and freight software, giving us 360-degrees of visibility of the marketplace,” Vitti said. “This unique perspective allows us to better serve the logistics industry. We’re excited about the leading-edge platform and offerings that Transflo provides its customers to drive efficiencies and profitability and were compelled by the plans for aggressive growth over the next several years. We look forward to helping Transflo continue to evolve to meet the increasingly complex needs of the logistics industry.”
“We are excited to partner with Renee and Bill as they look to lead Transflo forward,” said Phil Yates, Partner at Bregal Sagemount and former lead investor in Truckstop.com. “The company has the financial backing, talent, and strategic roadmap to do something very special. This is an important period for Transflo, and we are eager to assist in the company’s next phase of growth.”
About Transflo
Transflo®, a Pegasus TransTech company, is a leading mobile, telematics, and business process automation provider to the transportation industry in the United States and Canada. Transflo’s mobile and cloud-based technologies deliver real-time communications to fleets, brokers, shippers, and commercial vehicle drivers, and digitize 800 million shipping documents a year, representing approximately $115 billion in freight bills. Organizations throughout the Transflo client and partner network use the solution suite and digital platforms to increase efficiency, improve cash flow, and reduce costs. Headquartered in Tampa, Florida, USA, Transflo is setting the pace for innovation in transportation software. For more information, visit www.transflo.com.
About Bregal Sagemount
Bregal Sagemount is a growth-focused private capital firm with more than $3.5 billion of committed capital. The firm provides flexible capital and strategic assistance to market-leading companies in high-growth sectors across a wide variety of transaction situations. Bregal Sagemount invests $70 million to $400 million per transaction into targeted sectors including software, financial technology and specialty finance, digital infrastructure, healthcare IT, and business / consumer services. For more information, visit www.sagemount.com.
