Firmament-backed Envase Buys SecurSpace

Larry Cuddy, CEO

SecurSpace joined Envase's existing suite of market-leading Transportation Management System (TMS) software and firmly founded the company as the leader in comprehensive technology solutions created for the intermodal community.

FREMONT, CA: Envase Technologies, a mission-critical software platform for the intermodal supply chain, declared the acquisition of SecurSpace, a leading online marketplace technology and gate management software provider that connects companies seeking for storage and parking options to those with dedicated or excess capacity. SecurSpace joined Envase's existing suite of market-leading Transportation Management System (TMS) software and firmly founded the company as the leader in comprehensive technology solutions created for the intermodal community.

"SecurSpace is highly complementary to our existing functionality, offering a technology driven marketplace where trucks, chassis, and containers can be stored in over 1,000 yards nationwide," stated Larry Cuddy, Jr., CEO, Envase Technologies. "This is an essential need in the industry and one of several important links in the intermodal chain. SecurSpace will enhance our mission-critical operating systems and further allow drayage carriers to efficiently move containers across ports, rails, yards, and end-destinations. Our customers are driving the economy forward through the movement of essential goods, and we continuously strive to support them in every way possible."

Envase provides end-to-end solutions to manage all facets of the complicated intermodal ecosystem. The Envase platform also supports several new requirements of the COVID-19 work environment, including digital paperless workflows, work-from-home truck dispatch, and dispatch optimization, cloud-based operating systems, and remote invoicing and driver pay. Drivers also use Envase's platform on mobile devices, allowing them to manage load documents without retuning to a home office, minimizing object-to-person and person-to-person contact.

"Envase is building a platform in one of the most opaque segments of modern supply chains: intermodal and drayage transport," stated SecurSpace CEO Lance Theobald. "Given our business concentration in this space, we see a symbiotic opportunity to leverage the data generated through the SecurSpace marketplace to enhance Envase's TMS offerings and vice versa. The Envase management team members are all battle-hardened leaders in the industry, and I look forward to joining them as we build the first complete platform serving the intermodal community." Theobald joins Envase's management team and board of directors as of closing.