Oracle is joining Amazon and Uber in the race to digitize the 'antiquated' $800 billion trucking industry (ORCL)

Oracle is joining Amazon and Uber in the race to digitize the 'antiquated' $800 billion trucking industry (ORCL)
Nati Harnik/AP

Oracle announced on Thursday that it's partnering with Loadsmart, a digital freight-brokerage, to ensure Fortune 500 companies like Kraft-Heinz and Coca-Cola can quickly match their loads with truckers.

Oracle has been involved in logistics for 15 years, and Derek Gittoes, vice president of supply chain management product strategy at the company, told Business Insider that parts of the trucking industry are "antiquated" and ripe for digitization.

Companies like Amazon and Uber have leaned into modernizing the trucking sector by way of investments in the digital freight-brokerage industry.

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One of the fastest-growing parts of the American trucking sector solves a problem you wouldn't think exists in an $800 billion industry — matching retailers and manufacturers with truck drivers without picking up a phone or sending a fax.
Digital freight brokerage, as that sector is called, seeks to lessen the need for a middle-man when companies are trying to move their goods. Companies like Amazon and Uber have opened digital freight-brokerage departments, while trendy startups like Convoy and Transfix are attracting hundreds of millions of dollars in investments and big-name hires as they seek to digitize trucking.
"Over the past few years, we have seen a large uptick in the amount of venture capital investments entering the trucking market," a July 10 Goldman Sachs transportation report said.
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