Long Beach, CA, Jan. 26, 2022 — Steve Wen, co-founder and CEO of Dray Alliance, a Los Angeles-based digital drayage marketplace that simplifies the process of moving containers across short distances with a focus on port and rail moves, has been named to the 2022 Forbes 30 under 30 list, headlining the Enterprise Technology category.
Featured alongside Steve are Hank Cui and Jason Yu, fellow co-founders of Dray Alliance. In December, Dray Alliance completed a $40M Series B round led by global venture capital group Headline.
“This recognition from Forbes goes well beyond personal recognition,” said Wen. “This honor validates the work we are doing at Dray Alliance as we continue to build a digital platform that actively assists in clearing the backlogs being experienced at the ports and modernizes our space within the supply chain.”
Dray Alliance’s platform works to align dual-transactions, exchanging an empty container for a full load at the same port terminal for customers, freeing up chassis and empty containers that can help alleviate the current logjams. According to Wen, Dray Alliance has a 70% dual-transaction rate, well above the industry average of 15-20%.
The Dray Alliance platform provides complete drayage management to shippers, including automated status notifications, real-time GPS tracking, and document management for every container. The platform seamlessly connects shippers to the Dray Alliance network of vetted carriers, enabling capacity that adjusts based on supply chain needs.
“The shipping industry has been one long resistant to change,” Wen said. “A lot of the work was being done by hand and on outdated technology. I was seeing companies still faxing when Dray Alliance launched in 2018. It was this lack of digitization that led us to develop the Dray Alliance platform and attempt to begin the modernization process of the industry, starting with the port drayage space.”
The Enterprise Technology category of the Forbes 30 under 30 list recognizes technological advancements that make business-to-business practices better and the executives leading the digital recovery of award recipients’ respective industries.
“All of the honorees in the Forbes Under 30 Class of 2022 have defied the odds: Navigating a global pandemic, supply chain crunches and isolation to build ventures that are resilient and destined to change the world,” said Forbes.
To read full coverage from Forbes, visit https://www.forbes.com/sites/martingiles/2021/12/01/meet-the-upstarts-leading-the-digital-recovery-30-under-30-in-enterprise-technology/?sh=478aa0ff65db
Media Contact:
Tyler Thornton
LeadCoverage