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LaneAxis Tops $500k in Online Public Offering as Freight Industry Faces Driver Revolt

Truckers Protest Against Freight Brokers

Truckers Protest Against Freight Brokers

LaneAxis Virtual Freight Management

LaneAxis Virtual Freight Management

LaneAxis Shareholder Describes Delivery Nightmare

LaneAxis Shareholder Describes Delivery Nightmare

Investors flocking to LaneAxis as Truckers protest poor pay and poor treatment by freight brokers

'The brokers are the ones who are breaking the economy and breaking truck drivers; they are killing us, literally.'”
— Independent driver Addiel Santos to FreightWaves

COSTA MESA, CA, USA, May 5, 2020 /EINPresswire.com/ -- LaneAxis, Inc., a supply chain-focused software company, continues its attention-grabbing momentum after surpassing $500,000 in its Online Public Offering (OPO). Over the past two weeks, LaneAxis has averaged approximately $100,000 per week in investment contributions. The company’s Reg CF offering, which is fully compliant with all SEC regulations, is being hosted on the equity crowdfunding platform StartEngine.

“On the one hand it’s remarkable that our campaign is seeing this level of success and momentum in the midst of a global pandemic,” says Rick Burnett, LaneAxis Founder & CEO. “But savvy and forward-looking investors, particularly those with knowledge of the freight industry and a sharp eye for all the inefficiencies being exposed by this emergency, see the writing on the wall. There needs to be a better way forward, and LaneAxis is creating it.”

To date, over 800 people have invested in the LaneAxis StartEngine campaign. That’s on top of the scores of founding LaneAxis shareholders, as well as 2,000+ AXIS Token holders. This incredible coalition of supporters provides LaneAxis not just the financial capital needed to grow the platform, but just as importantly the intellectual capital that will propel us to innovate and scale quickly. Our shareholder and advisory members have centuries of combined experience in trucking, logistics, software, Fintech, and supply chain management. Two of our top shareholder/advisors are former Walmart supply chain executives.

At its core, LaneAxis is building a shipper-to-carrier direct freight network, known as FreightLINK™, that will cut out the need for third party intermediaries such as freight brokers and third party logistics companies (3PLs). Our initial offering, known as FreightVISION™, provides shippers and carriers real-time tracking over their loads, time-stamped and documented proof-of-pickup and delivery, e-docs, instant messaging, and free truck-specific navigation – all for $0.99 cents per load.

The LaneAxis mission to “go direct” – thereby bypassing expensive freight brokers that charge commissions ranging from 15-50% - is more timely than ever.

Over the last two weeks, large groups of drivers have staged highway protests in Los Angeles, Phoenix, Houston and Washington, DC., among other cities. Several drivers were cited for obstruction of traffic, with one Houston protestor charged with inciting a riot. LaneAxis highlighted the contentious issue in a widely shared blog post.

“The brokers are the ones who are breaking the economy and breaking truck drivers; they are killing us, literally,” independent driver Addiel Santos told FreightWaves. “Brokers [were] paying for trips from Houston to Midland-Odessa like $1,800 to $1,900 before. Right now they are paying $700.”

The drivers are accusing many freight brokers of price gouging during the pandemic. A petition has been set up on change.org, calling for the government to crack down on the largely unregulated freight brokerage industry. Most notably, they want to require brokers to disclose what their shipping customers are paying them per freight movement, thus revealing the profit margin between what brokers are bringing in from shippers and what they’re paying out to drivers/carriers. Currently brokers are allowed to keep that a secret.

LaneAxis shareholder Richard Moore recently posted a comment to our StartEngine page (unsolicited), describing his recent experience with the U.S. Postal Service losing THREE of his packages, then informing him they had no idea where those packages were.

And it’s not just the USPS. What Richard and many others may not realize, is that many organizations such as FedEx, UPS, Walmart and other huge companies outsource excess loads to freight brokers as well - and once they do, those millions of daily truckload shipments also go largely untracked.

The LaneAxis platform represents a fundamental shift in the way freight movements are managed and monitored. In doing so, LaneAxis is paving a better way forward for the U.S. freight industry.

To learn more, visit startengine.com/laneaxis-inc.

Andrew Rivera
LaneAxis, Inc.
+ + +1 626-353-5652
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