DAT Freight & Analytics, a Beaverton, Ore.-based freight company, announced the acquisition of Outgo, a Seattle startup that sells banking services to freight carriers.
Terms of the deal were not disclosed.
Outgo raised more than $19 million since launching in 2022. Its finance software helps trucking companies manage invoice processing and payment collection in one place, without requiring annual contracts.
Outgo will continue operating out of Seattle as a distinct service within DAT, which operates the largest truckload freight marketplace in North America. Founded in 1978, DAT is a business unit of publicly traded industrial conglomerate Roper Technologies.
Outgo is also designed to help carriers with factoring, or the ability to access cash quickly while running their businesses.
“Cash flow is the lifeblood of small carriers, and at the heart of any great high-trust marketplace is the payment connection between the buyer and seller,” DAT CEO Jeff Clementz said in a statement. “Outgo sets the industry standard for funding speed, transparency, and flexibility.”
Marcus Womack, Outgo CEO and co-founder, will join the executive team at DAT. The company has 30 employees in Seattle; they’ve been asked to stay on and continue to develop the business at DAT, according to a spokesperson.
Womack was previously a product leader for Uber. He founded Outgo with Mike Bohlander and Ray Fortna.
The trio first worked together at iLike, an online social music service that sold to MySpace in 2009. Then they co-founded Familiar, a photo app acquired by Evidence.com, a business unit of police body camera maker Axon (previously known as Taser).
Bohlander and Fortna were principal software engineers at Convoy, the Seattle-based digital trucking marketplace that collapsed in 2023.
Outgo’s investors included Gradient Ventures; Construct Capital; Neo; PSL Ventures, Bezos Expeditions (the investment office of Jeff Bezos); Fintech Fund; Operator Stack; and Upper90.
Outgo is among a growing number of logistics tech startups in the Seattle region.
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