Firmament-backed Envase acquires DrayMaster, bolstering Its TMS offering with rate management and automated order processing software
Envase Technologies (“Envase”), a mission-critical software platform for the intermodal supply chain, announced today the acquisition of DrayMaster Enterprise (“DrayMaster”), a software company with two core products: (i) DrayMaster, a rate management system (RMS) for intermodal carriers and freight forwarders, and (ii) Dray360, a software module that automates drayage carrier order entry and processing through robust rule engine algorithms. DrayMaster will bolt onto Envase’s industry-leading transportation management system (TMS) as an enhanced product offering for its intermodal customer base.
“We are thrilled to welcome the DrayMaster team and their roster of blue-chip intermodal customers to the Envase family. DrayMaster’s software solutions are highly complementary to our intermodal TMS offering, providing reliable and transparent rate management between freight forwarders, 3PLs, and drayage carriers,” said Larry Cuddy, Jr., CEO, Envase Technologies. “We also expect their new Dray360 offering to optimize some of the most inefficient manual processes in the container shipping lifecycle. Our team is excited to leverage DrayMaster’s product modules to create significant time savings and efficiencies for our 1,000+ customers across the intermodal supply chain.”
“The DrayMaster team is incredibly excited to join the Envase family and become part of its leading intermodal software platform,” says Tom Burke, Owner & CEO of DrayMaster. “We are proud to have successfully built software solutions that solve real problems intermodal carriers and freight forwarders face daily. We look forward to partnering with Envase to empower our collective customer bases with cutting-edge software now and in the many years to come.”
Envase’s financial partner, The Firmament Group, provided strategic assistance in consummating the acquisition. Green Campbell and Tedmond Wong, who both serve as Board Members of Envase, led the transaction on behalf of Firmament.