FreightWaves is a rapidly-growing technology startup in the logistics/supply chain space, where there has been an explosion in the use of technology to improve efficiency in the global supply chain. The company utilizes data and technology to help understand, react, predict and de-risk the freight market.
In FreightWaves’ first year in business, the company engaged Connamara on a small project to develop an index publisher to provide their proprietary data into a white-labeled third-party software platform. The project went smoothly, but FreightWaves soon discovered they needed full control over prioritizing software feature development without being dependent on a third party. And, more importantly, FreightWave’s wanted full control of their clients’ user experience with their data.
Once FreightWaves decided to take control of the UI/UX design and build their very own desktop solution, FreightWaves SONAR was born, and Connamara was tasked with building it. The deadline was set for the upcoming FreightWaves Live (f/k/a Transparency Live) event, a scant six months away — with thousands of event attendees and thousands more watching the live streaming feed on the internet, FreightWaves could not afford any doubts that the project would be delivered on time.
Upon commencing the project, Connamara immediately dispatched a team to Chattanooga to meet with key members of the FreightWaves team. Working directly with Craig Fuller, FreightWaves’ founder and CEO, and Ben Murphy, FreightWaves’ head of product, Connamara gathered requirements for the first release, and began development shortly thereafter.
Connamara applied its standard agile methodology principles to project and put the customer at the center of the development effort, giving FreightWaves the final say on feature design and prioritization. The user experience of the platform was particularly important to FreightWaves, compared to many of Connamara’s clients in the capital markets. Connamara integrated UI/UX design principles into the process by leading the development iterations with high fidelity wireframes and designs so FreightWaves could provide valuable input and feedback on the look and feel and workflows of the user interface.
Connamara successfully delivered the project on time and SONAR launched at FreightWaves Live. Since then, Connamara has continued supporting SONAR, delivering four follow-up major releases every six months at successive FreightWaves Live events.
Since SONAR’s launch, FreightWaves has continued to grow in the logistics industry, becoming the number one logistics news site in the world by numerous metrics, such as page views and unique visitors. The company raised $13M in Series A funding in 2018, followed by $21M in Series B funding in the next year, and grew its employee count over 135% in 2019.
The platform has also been recognized by the capital markets industry — in 2018, FreightWaves was named the Futures Industry Association’s “Innovator of the Year” at the FIA Expo Innovators Pavilion, an award-winning showcase for fintech startups. FreightWaves also presented at Barchart’s Fintech Exchange event in 2018 and earned recognition from Rise of the Rest and CNBC’s Upstart 100.