Burnaby, B.C. home furnishing eCommerce platform provider Cymax Group has launched its freight logistics platform Freight Club, which the company will be formally unveiling, at the Las Vegas Market trade show on July 29th.
A proprietary freight logistics platform, Freight Club uses predictive analytics software to provide users with real-time freight quotes for services spanning North America’s 2.8 billion freight lanes.
“With consumers expecting their items to arrive expeditiously and retailers and manufacturers looking to minimize their claim rates, Freight Club addresses the demands of both retailers and end consumers,” said Cymax CEO Arash Fasihi. “Cymax Group has moved over 5 million packages since inception and with Freight Club, smaller retailers now have access to our discounted purchasing power. By providing users with a scalable, intuitive and efficient service, the outlook for continued growth of the platform is very positive.”
Cymax Group now boasted annual revenues of $180 million in 2015, compared with $141 million when Cantech Letter interviewed Fasihi just over a year ago.
Cymax launched both Constant Retail and Freight Club in Q1 of 2016.
Freight Club is based on technology that Cymax Group has developed over the past 12 years, with its flagship Cymax.com service, and already claims to have delivered its users the lowest quotes available for a high standard of service by working with the most reputable shipping companies in the freight industry.
The Predictive Freight Engine promises to provide users with low-cost quotes in 30 seconds or less, as well as real-time tracking and status visibility and the ability to select a range of delivery options, from curbside to white glove.
Freight Engine’s shipping API works with most eCommerce platforms, built on a predictive engine that examines the size and durability of each shipment, thereby minimizing damage rates while maximizing speed of delivery, integrated with freight options provided by a multitude of carriers across North America.
The platform finds optimal routes based on delivery specifications, which maximizes efficiency for retailers and shipping companies with comprehensive Less-Than-Truckload (LTL) delivery options, while also providing users with touchpoint tracking, real-time status updates, one-click Bill of Lading (BOL), and a central dashboard tracking all of their shipments.
Cymax’s proprietary Platform-as-a-Service (PaaS) software connects the US$233 billion online and offline home furnishings industry, linking merchandising, marketing and logistics.
At the moment, about 15% of home furnishing purchases are carried out online.
Founded in 2004 by Fasihi, after beginning life as audio-video-furniture.com in 2003, Cymax Group has evolved into a freight logistics channel and data analytics system which includes a catalog of more than 200,000 SKUs.
Last October, Cymax closed a US$25 million Series A funding round, led by Frind Holdings, BDC Ventures and Salman Partners.
Frind Holdings is run by Markus Frind, who sold his online dating service Match.com, which he built out of his Vancouver apartment, for US$575 million in 2015.
Cymax Group now consists of Constant Retail, Freight Club, and Cymax.com, a multi-brand retailer that showcases products for more than 300 North American manufacturers, and has additional plans to add Muzeboard, an interior design inspiration platform for connecting designers with consumers via personally curated moodboards, by the end of 2016.
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