Ryder acquires logistics technology start-up Baton
Baton co-founders join Ryder to head up product development for customer-facing logistics technologies.
NYSE-listed Ryder System, Inc, a leader in supply chain, dedicated transportation, and fleet management solutions, has acquired Baton, a San Francisco-based start-up known for the development of a proprietary logistics technology focused on optimising transportation networks.
"The acquisition, finalised on August 31, is an extension of Ryder's collaboration with Baton after Ryder's corporate venture capital fund RyderVentures invested in the tech firm early last year. With Baton, we gain the talent and the team of product developers and technologists behind the Baton logistics platform, who will lead the innovation and development of the next generation of customer-facing technologies at Ryder," says a release from Ryder.
Robert Sanchez, chairman and chief executive officer, Ryder says: "The acquisition of Baton is consistent with our strategic focus to continue to grow our supply chain and transportation solutions businesses, and part of that strategy is to bring new technology-driven solutions to market. With Baton, we gain the talent and the team of product developers and technologists behind the Baton logistics platform, who will lead the innovation and development of the next generation of customer-facing technologies at Ryder."
Baton's co-founders Andrew Berberick and Nate Robert join Ryder as co-chief product and technology officers for the supply chain and dedicated transportation businesses and remain based in Silicon Valley.
"Baton's technology is what initially caught our eye but in working with Andrew and Nate over the past year and watching as they evolved their platform, I think we all realised that it was just the beginning of so much more," says Karen Jones, chief marketing officer and head of new product development, Ryde. "And, by joining forces, we can tackle a host of supply chain disruptions by building out a new suite of products leveraging their existing tech platform," . "Andrew and Nate are exceptional talent, and we're excited about the possibilities and the value we can create for Ryder customers."
Ryder first invested in Baton through RyderVentures during the start-up's Series A funding round in March 2021.
"We started this journey with Baton back in 2019 with a mission to apply cutting-edge technology to optimise transportation networks, and we're proud of our success in that area," says Berberick. "Now, in working for Ryder, we have the opportunity to broaden our scope and develop next-gen technologies to optimise supply chains from end-to-end."
Robert adds: "We are excited to join forces with a logistics giant like Ryder that is equally focused on the future of the industry. We believe the opportunities for collaboration and innovation across the supply chain are exponential."
Several members of Baton's core leadership team are joining Ryder including Erik Malin as group director of operations and Ryan Houlihan as director of engineering, the release added.