Summary: DAT Freight & Analytics acquired Outgo, a Seattle startup offering banking services to freight carriers. Outgo will operate as a distinct service within DAT, providing finance software to manage invoice processing and payment collection. Outgo’s co-founders, including former Uber product leader Marcus Womack, will join DAT’s executive team.
Article:
DAT Freight & Analytics, a Beaverton-based freight company, recently made headlines with its acquisition of Outgo, a Seattle startup specializing in banking services for freight carriers. This strategic move will see Outgo continue its operations as a distinct service within DAT, offering its innovative finance software to streamline invoice processing and payment collection processes for trucking companies. The terms of the deal remain undisclosed, but the acquisition marks a significant milestone for both companies.
Outgo, founded in 2022, has secured over $19 million in funding to date. Its platform is designed to assist carriers with factoring, enabling them to access cash quickly to support their business operations. The software eliminates the need for annual contracts, providing a flexible and transparent solution for managing financial transactions in the freight industry. This focus on funding speed, transparency, and flexibility has set Outgo apart as an industry leader in payment processing.
Notably, Outgo’s co-founders bring a wealth of experience to the table. Marcus Womack, the CEO of Outgo and former Uber product leader, will be joining DAT’s executive team as part of the acquisition. Alongside Mike Bohlander and Ray Fortna, Womack has a proven track record of success in the tech industry, having previously worked together on ventures such as iLike and Familiar. Their combined expertise will undoubtedly strengthen DAT’s position in the market and drive innovation within the company.
With a team of 30 employees based in Seattle, Outgo’s integration into DAT is expected to further enhance the company’s offerings and expand its reach in the logistics tech sector. The support of investors such as Gradient Ventures, Construct Capital, and Bezos Expeditions underscores the potential for growth and development within Outgo. As part of the larger DAT ecosystem, Outgo is poised to make a significant impact on the freight industry and drive positive change for carriers across North America.
