Numerous transportation and logistics companies made Inc. 5000’s annual list of fastest-growing private companies. The 2024 list includes 166 companies that serve the freight industry; 110 were repeat honorees, while 21 were “newly founded.”
This year’s list ranked the entities by revenue growth rates from 2020 to 2023. Companies had to be founded and revenue-producing by March 31, 2020, and generating at least $100,000 in revenue in 2020 and a minimum of $2 million in 2023.
There were 216 transportation and logistics companies on the list last year.
The top 3 from the industry this year were digital marketplace for vehicle shippers and haulers Autosled (No. 12), autonomous truck technology provider Kodiak (No. 20), and aircraft wheel and brake repair company Earp Aviation Repairs (No. 73).
The top 10
Rank:Company:3-year growth %:Location:12Autosled14,001%Rockville, MD20Kodiak10,106%Mountain View, CA73Earp Aviation Repairs4,004%Chandler, AZ165Nokking2,267%Austin, TX194Dunn Transport2,021%Fresno, CA266Prestige Worldwide Logistics1,575%Utica, MI278Royal Logistics & Transportation1,522%Grand Rapids, MI290Valoroo1,480%San Diego, CA292Launch Fulfillment1,465%Vineyard, UT327Empire National1,316%Fletcher, NCSource: Inc. 5000
Despite tepid truck freight demand and a changing rate environment that compressed margins, the 2024 version again included several 3PLs providing services like freight brokerage, forwarding and managed transportation.
AFC Logistics (No. 576), FreightPlus (No. 618), Steam Logistics (No. 1,038), Merge Transportation (No. 1,084), Loadsmith (No. 1,563), Taimen Transport (No. 2,640), Trident Transport (No. 2,804), Transportation One (No. 3,645), Evans Transportation (No. 3,663), Fifth Wheel Freight (No. 3,668), Arrive Logistics (No. 3,775), Edge Logistics (No. 3,901) and Logistics Plus (No. 4,917) were just some of the brokers to make this year’s list.
Beemac (No. 2,925), an asset-based carrier and 3PL, also appeared on the list.
A group of tech-enabled e-commerce and omnichannel fulfillment providers included Stord (No. 983), ShipBob (No. 1,560) and ShipMonk (No. 3,373).
FreightWaves Inc. (No. 3,476) made the list for a third time with a 139% growth rate. The 2023 ranking included FreightWaves’ media and tech offering, SONAR, under the same umbrella. The company divested its media business from SONAR earlier this year.
More FreightWaves articles by Todd Maiden
Saia to reopen 6 former Yellow terminals in August
Yellow’s unsecured creditors frustrated as professional fees mount
House committee still seeking answers on pension bailout overpayments
The post 2024 list of fastest-growing companies includes several brokers appeared first on FreightWaves.