DAT’s headquarters in Beaverton, Ore. (DAT Freight & Analytics)
DAT Freight & Analytics acquired Seattle-based back-office payment specialist Outgo for an undisclosed sum, the company said May 15.
In DAT’s second acquisition of the past six months, the Beaverton, Ore.-based company added automated invoice payment to the truckload freight marketplace and research group’s product suite.
DAT said acquiring Outgo reinforced the company’s commitment to helping carriers “find the best loads, book them quickly, and get paid almost instantly — all in one place.”
“Cash flow is the lifeblood of small carriers, and at the heart of any great high-trust marketplace is the payment connection between the buyer and seller,” said CEO Jeff Clementz. “Outgo sets the industry standard for funding speed, transparency and flexibility.”
Outgo automates broker setup, invoicing, factoring and collections absent long-term contracts. Unpaid invoices are settled within four hours, said DAT, with many processed as quickly as 15 minutes to 90 minutes.
“Acquiring Outgo paves the way for DAT to embed payments and financial services into our DAT One freight platform,” Clementz said. “We can bring more value to our customers and build on our position as the industry’s most trusted marketplace by offering a smarter, faster path to payment that’s fully integrated into the customer’s workflow.”
Three-year-old Outgo was launched by former Uber and Convoy executives. Outgo will remain based in Seattle. It will remain a separate division within DAT. CEO Marcus Womack will join the DAT executive team.
“We’re relentlessly focused on transforming how carriers get paid so it’s faster, more flexible, and puts them in control of their finances,” said Womack. “Joining a company with the reputation and trust that DAT has earned will allow us to continue to develop payment innovations at a greater scale for the benefit of both carriers and brokers.”
“By combining the Outgo team’s deep payments expertise with DAT’s award-winning customer support and freight match knowledge, customers can get the support they need to find work and get paid, all in one platform,” he said.
A December deal was also aimed at customer support.
On Dec. 17, DAT bought Trucker Tools for an undisclosed sum.
Trucker Tools’ technology provides freight tracking for more than 750 brokers and supports 350,000 owner-operators and small carriers. Its Smart Load Board enables automated load booking, rate negotiation and document management.
The acquisition added freight visibility, digital load booking and carrier engagement to DAT’s operations, DAT said.
“Tracking and visibility have become critical needs for all of our customers,” said Clementz. “We couldn’t be more excited to deliver best-in-class solutions to them with Trucker Tools’ capabilities.”
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Kary Jablonski, CEO of Trucker Tools, said the partnership extended the company’s reach. “By joining DAT, we’re better positioned to shape the future of our industry while unlocking new opportunities for customers, employees and partners,” she said.
DAT bought Trucker Tools from ASG, a portfolio company of Alpine Investors. Trucker Tools also remained a separate division under its existing leadership, with Jablonski joining DAT’s executive team.
The acquisition of Trucker Tools will allow DAT to further streamline digital freight matching and enhance GPS-based load tracking for brokers, carriers and shippers, the company said.
