FreightWaves
FreightWaves operates SONAR, a high-frequency freight market data platform serving over one million logistics professionals and 500+ enterprise clients. Headquartered in Chattanooga, it combines SaaS data products with media brands including American Shipper and Modern Shipper to serve carriers, brokers, shippers, and government agencies.
- Company typePrivate
- Founded2017
- HeadquartersChattanooga, United States
- Headcount251–500
- GTM typeB2B
- OfferingSoftware
What FreightWaves does
FreightWaves is a private Chattanooga-headquartered data and media company founded in 2017 that operates SONAR, a high-frequency freight market intelligence platform covering truckload, intermodal, ocean, and air cargo movements through real-time spot rates, weekly contract rate benchmarks, lane scores, and proprietary indices such as the Accepted Truckload Volume Index. SONAR serves over one million logistics professionals and more than 500 global enterprise clients, distributing via direct enterprise sales, a self-serve Market Monitor dashboard (launched April 2026 at getfreightdata.com), an open API, and embedded integrations including a flagship partnership with Blue Yonder TMS that feeds the SCORE benchmarking consortium.
The company monetizes through a "content-supported SaaS" model in which 70% of SaaS deals originate from leads generated by its owned media brands — FreightWaves, American Shipper (acquired 2019), Modern Shipper, PostalMag, and Playbook — alongside video programming (FreightWaves Today, What the Truck?!), industry events (F3: Future of Freight Festival, Supply Chain AI Symposium, Future of Rail Symposium), and award programs (FreightTech 100/25, Fraud Fighters, AI Excellence). This structure produces a negative customer acquisition cost. SONAR subscriptions are quote-based and annual, Market Monitor is offered on a freemium self-serve basis, and award nominations are paid per submission.
FreightWaves reached approximately $20 million in Annual Recurring Revenue within roughly four years of SaaS operations and reports 90% year-over-year SaaS growth as of 2022, marking its transition from media-first to SaaS-first. The company is led by founder, CEO, and Managing Director Craig Fuller alongside CFO/COO Spencer Piland, Chief Data Scientist Daniel Pickett, and Chief Product Officer Travis Rhyan. Total disclosed equity funding is approximately $92 million across rounds from 2016-2021, with investors including 8VC, Fontinalis Partners, Hearst Ventures, Kayne Anderson, and Prologis Ventures. Notable customers include the U.S. Department of Transportation, Werner Enterprises, Ryder, ITS Logistics, Trimble, and Blue Yonder.
FreightWaves firmographics
Firmographics- Name
- FreightWaves
- Legal name
- FreightWaves, Inc.
- Website
- https://freightwaves.com
- Company type
- Private
- Founded year
- 2017
- Operating status
- Operating
- Headcount range
- 251–500 employees
- Short description
- FreightWaves operates SONAR, a high-frequency freight market data platform serving over one million logistics professionals and 500+ enterprise clients. Headquartered in Chattanooga, it combines SaaS data products with media brands including American Shipper and Modern Shipper to serve carriers, brokers, shippers, and government agencies.
- Ownership category
- akta.pro rank
FreightWaves industry classification
Industry- Product category
- Freight Market Intelligence Software
- NAICS
- Freight Transportation Arrangement (488510), Freight Transportation Arrangement (48851)
- SIC
- Arrangement Of Transportation Of Freight & Cargo (4731)
- akta.pro primary industry
- Specialized Freight Marketplaces (Reefer, Flatbed, Oversize, Hazmat) (TLAEAJAH)
Keywords
Where FreightWaves is headquartered
LocationHeadquarters
- HQ city
- Chattanooga
- HQ country
- United States
- HQ region
- North America
Offices1 record
Markets served
FreightWaves business model
Business model- GTM type
- B2B
- Offering type
- Software
- Cost components
- Personnel, Technology or R&D, Marketing or Sales, Operations, Infrastructure
Revenue model
- SONAR SaaS Subscriptions: High-frequency freight market data platform providing real-time spot rates, contract benchmarks, and lane scores through subscription-based access. SaaS revenue surpassed media revenue in 2022 with 90% year-over-year growth.
- Media and Content: Freight industry news, analysis, and thought leadership content across multiple brands (FreightWaves, American Shipper, Modern Shipper, PostalMag) generating advertising and subscription revenue.
- Awards and Events: FreightTech awards, Fraud Fighters Awards, AI Excellence in Supply Chain Awards, and events including F3: Future of Freight Festival and Supply Chain AI Symposium with nomination fees.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Subscription | Annual | SONAR platform subscription with freight market data access |
| Freemium | Monthly | Market Monitor self-serve dashboard |
| One time/ perpetual license | Pay-as-you-go | AI Excellence in Supply Chain Award nomination |
Go-to-market motion1 record
Distribution channels5 records
Marketing channels8 records
FreightWaves product offering
Product offeringCore offering
FreightWaves operates a content-supported SaaS business anchored by SONAR, a high-frequency freight market data platform providing real-time spot rates, weekly contract rate benchmarks, lane scores, and indices across truckload, intermodal, ocean, and air cargo movements. The company complements this data platform with branded freight media (FreightWaves, American Shipper, Modern Shipper), industry events (F3 Festival, Supply Chain AI Symposium), award programs, and education/community properties for owner-operators. SONAR serves over one million logistics professionals and 500+ enterprise clients including the U.S. Department of Transportation.
Product overview
FreightWaves is a supply chain and trucking media company that operates a platform-plus-content business model, combining SaaS data products with media brands. The core product is SONAR, a high-frequency freight market data platform providing real-time intelligence on truckload, intermodal, ocean, and air cargo markets. Supporting the platform are sub-brands including American Shipper (global trade/maritime), Modern Shipper (e-commerce/last-mile), and Playbook (owner-operator education). FreightWaves also runs industry events (F3 Festival, Supply Chain AI Symposium, Future of Rail Symposium), award programs (Fraud Fighters, FreightTech, AI Excellence), and content channels including FreightWaves Today livestream and What the Truck?! podcast. The sustainability offering FreightWavesCarbon Intelligence was developed with 2021 funding, while Market Monitor and the Blue Yonder TMS integration represent recent additions to the data product portfolio.
Differentiator
Problem solved
Functional benefit
Brands
- SONAR: High-frequency freight market data platform providing real-time spot rates, contract rate benchmarks, and lane scores for logistics professionals
- FreightWaves Playbook
- What the Truck?!
- FreightWaves Today
- Market Monitor
- FreightWavesCarbon Intelligence
- AI Excellence in Supply Chain Award
- FreightTech Awards
- Fraud Fighters Awards
Products and services
- SONAR Flagship high-frequency freight market data platform providing real-time spot rates, contract rate benchmarks, lane scores, and indices covering truckload, intermodal, ocean, and air cargo movements. Used by over one million logistics professionals and 500+ enterprise clients including the U.S. Department of Transportation.
- SONAR API Developer API providing access to SONAR's high-frequency freight market data including spot rates, contract benchmarks, lane scores, and bulk trucking rate data for integration into third-party applications and enterprise workflows.
- Market Monitor Self-serve freight market dashboard delivering live SONAR indices, AI-written interpretations, and curated daily briefings in one place for carriers, brokers, shippers, and executives needing quick market insights without enterprise platform requirements.
- SONAR Bulk Rates API API providing standardized contract rate benchmarks for the bulk trucking segment, delivering outbound state-based pricing and round trip rates for shippers, carriers, and logistics technology operators.
- FreightWavesCarbon Intelligence Sustainability platform designed to help companies reduce transportation-related carbon emissions and manage freight-related environmental impact.
- Playbook Education and community platform for owner-operators and small fleets under 50 trucks, offering daily trucking news, deep-dive education, Roadmap coursework, and Masterclass sessions across six lanes: Fuel, Money, Equipment, Growth, Risk, and Compliance.
- FreightWaves Today Weekday livestream show at noon ET featuring industry executives, market analysis, and discussions on logistics sector innovations including port drayage optimization, technology integration, and capacity sourcing.
- What the Truck?! Podcast featuring industry experts discussing trucking issues, regulatory changes, safety concerns, and freight market dynamics.
- American Shipper Trade publication covering global trade, maritime shipping, container logistics, and supply chain news for international freight professionals.
- Modern Shipper Publication focused on on-demand freight, gig economy, last-mile delivery, e-commerce logistics, and emerging delivery technologies.
- F3: Future of Freight Festival Annual flagship industry event held in Chattanooga, Tennessee, bringing together freight industry professionals for networking, insights, and innovation showcases.
- Supply Chain AI Symposium Annual symposium focused on AI applications in supply chain and logistics, featuring the AI Excellence in Supply Chain Awards presentation.
- Future of Rail Symposium Symposium co-hosted with TrainsPRO bringing rail industry executives, stakeholders, and regulators together to discuss strategic direction for the next decade, including merger discussions and regulatory challenges.
- AI Excellence in Supply Chain Award Annual award program recognizing companies using artificial intelligence to transform logistics operations, demand forecasting, visibility, and sustainability, with nominations open and awards presented at the Supply Chain AI Symposium.
- Fraud Fighters Awards Award program recognizing logistics operations and technology providers developing fraud prevention programs to address supply chain security threats.
- FreightTech Awards Award program recognizing innovative technology companies and transportation providers in North America, culminating in the FreightTech 100 and FreightTech 25 lists.
Quantifiable outcome
- 70% of SaaS deals originate from media-generated leads
- +2 more outcomes
Companies that use FreightWaves
Customer profileNamed customers6 records
Segments4 records
Ideal customer profiles5 records
FreightWaves technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- Yes
- API docs
- API detail
Core technology
AI maturity
App detail
Integration2 records
AI capability5 records
Feature6 records
FreightWaves partnerships and signals
Strategic signalPartnerships
Four partnerships are on record, tiered flagship and core.
- U.S. Department of TransportationflagshipThe US Department of Transportation awarded a contract to FreightWaves SONAR to provide high-frequency freight market data for federal transportation analysis and economic research. SONAR's platform supplies aggregated data covering truckload, intermodal, ocean, and air cargo activity to improve visibility into freight activity and supply chain conditions across the United States, supporting USDOT's Bureau of Transportation Statistics modernization efforts.
- TrimblecoreFreightWaves and Trimble published a joint white paper surveying carriers, brokers, shippers, and owner-operators on AI agent adoption in freight operations. The report identifies where organizations are currently investing in AI, the primary barriers to implementation, and industry perspectives on trust, autonomy, and human oversight.
- Blue YonderflagshipSONAR launched an integration with Blue Yonder's Transportation Management System enabling shippers to access real-time spot rates, weekly contract rate benchmarks, and lane scores directly within their existing workflow. The integration features bi-directional data exchange, allowing Blue Yonder customers to contribute anonymized shipment data to SONAR's benchmarking consortium while accessing market intelligence without switching platforms.
- Everstream AnalyticscoreEverstream Analytics partnered with FreightWaves to integrate its advanced weather risk analytics into the SONAR platform. The partnership provides supply chain decision-makers with AI-augmented predictive weather insights designed to help businesses anticipate disruptions before they occur, with Everstream's climate projections and risk intelligence capabilities accessible through SONAR's platform.
Scale indicators7 records
Recent moves6 records
Expansion highlights5 records
FreightWaves competitors and assessment
Company assessmentDirect peers
- Xeneta: Xeneta is an ocean and air freight market intelligence platform providing benchmark rate data and market analytics to shippers, forwarders, and carriers. It directly competes with SONAR's ocean and air cargo data products and shares the same subscription-based market intelligence business model.
- Drewry: Drewry is a global supply chain research and consultancy firm providing freight market intelligence across ocean, air, road, and intermodal modes. It overlaps directly with SONAR's multimodal coverage and the American Shipper editorial content vertical.
- project44: project44 is a supply chain visibility platform providing real-time shipment tracking and freight market data across ocean, air, truck, and rail. It competes with SONAR on multimodal freight data, particularly for shipper-side procurement and visibility use cases.
- FourKites: FourKites is a supply chain visibility and predictive ETA platform serving shippers, carriers, and 3PLs with real-time freight tracking and analytics. It overlaps with SONAR's market intelligence offering for shipper-side procurement and lane analytics use cases.
Broad incumbents
- Descartes Systems Group: Descartes is a broad logistics technology vendor offering TMS, customs, routing, and freight data solutions to shippers, carriers, and brokers. Its Global Logistics Network and freight data products overlap with SONAR's data intelligence capabilities but are part of a wider enterprise software portfolio.
- S&P Global Platts: S&P Global Platts is a benchmark commodity and freight pricing intelligence provider serving trading, shipping, and logistics market participants. Its freight rate benchmarks and analytics compete with SONAR's contract and spot rate offerings within a much broader commodity intelligence franchise.
- Uber Freight: Uber Freight operates a digital freight brokerage and transportation management platform with embedded market data and pricing intelligence. It overlaps with SONAR's brokerage and shipper use cases while competing for the same enterprise procurement budgets.
- Bloomberg Terminal: Bloomberg Terminal provides financial and commodity market data including freight and shipping coverage used by traders, analysts, and corporate procurement teams. Its multimodal freight data products compete with SONAR at large enterprise customers and on Wall Street trading desks.
Emerging players
- Loadsmart: Loadsmart is a digital freight brokerage and trucking platform offering AI-powered pricing, capacity matching, and market data. Its pricing intelligence features compete with SONAR's spot rate data for shippers and brokers on truckload lanes.
- Turvo: Turvo provides a collaborative TMS platform for shippers, brokers, and carriers with built-in analytics and market benchmarking. It competes with SONAR's lane scoring and contract benchmarking features for mid-market TMS customers.
Market position
Strengths5 records
Weaknesses4 records
Competitive moat5 records
Key risks5 records
Key highlights6 records
Customer concentration
FreightWaves social profiles
Digital presenceFreightWaves financial estimates
Financial estimateRevenue estimate
Valuation estimate
FreightWaves leadership team
Management profileNumber of profiles
Profiles6 records
FreightWaves subsidiaries and ownership
Company hierarchySubsidiaries6 records
FreightWaves funding detail
Funding detailFunding overview
Funding rounds8 records
Investors18 records
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
FreightWaves M&A and investment
M&A and investmentM&A2 records
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about FreightWaves
What does FreightWaves do?
FreightWaves operates a content-supported SaaS business anchored by SONAR, a high-frequency freight market data platform providing real-time spot rates, weekly contract rate benchmarks, lane scores, and indices across truckload, intermodal, ocean, and air cargo movements. The company complements this data platform with branded freight media (FreightWaves, American Shipper, Modern Shipper), industry events (F3 Festival, Supply Chain AI Symposium), award programs, and education/community properties for owner-operators. SONAR serves over one million logistics professionals and 500+ enterprise clients including the U.S. Department of Transportation.
Is FreightWaves a public or private company?
FreightWaves is a private company. It is classified as venture growth investor backed and is currently operating.
When was FreightWaves founded?
FreightWaves was founded in 2017. It employs 251 to 500 people.
Where is FreightWaves based?
FreightWaves is headquartered in Chattanooga, United States, in the North America region.
How does FreightWaves make money?
Three revenue lines are on record. SONAR SaaS Subscriptions are the primary driver. The others are media and Content and awards and Events.
Who are FreightWaves's main competitors?
Direct peers on record are Xeneta, Drewry, project44 and FourKites. Broad incumbents are Descartes Systems Group, S&P Global Platts, Uber Freight and Bloomberg Terminal. Emerging players are Loadsmart and Turvo.
Does FreightWaves have an API?
Yes. SONAR API provides high-frequency freight market data including real-time spot rates, weekly contract rate benchmarks, and lane scores. The API serves over one million logistics professionals and more than 500 global enterprise clients. SONAR launched a Driver App Shortage Hackathon (DASH) providing free API access to participants. The Bulk Rates API provides standardized contract rate benchmarks for the bulk trucking segment with outbound state-based pricing and round trip rates. Developer documentation is at api.sonar.surf.
What industry is FreightWaves in?
FreightWaves's product category is Freight Market Intelligence Software. Its primary akta.pro industry code is TLAEAJAH, Specialized Freight Marketplaces (Reefer, Flatbed, Oversize, Hazmat). Its NAICS code is 488510 and its SIC code is 4731.