CHICAGO, Aug. 01, 2023 (GLOBE NEWSWIRE) -- Redwood Logistics (Redwood), one of the fastest-growing supply chain and logistics companies in North America, has been named for the second year in a row to the 2023 Crain’s Chicago Business Fast 50 list, recognizing the 50 fastest-growing companies in Chicago based on five-year revenue growth. Redwood’s 2022 revenue was $1.3 billion, showcasing 353% growth over the past five years fueled by new product launches like Redwood Hyperion, ongoing SaaS platform development within RedwoodConnect™, as well as acquisitions and cross border expansion.
“From pioneering the modern 4PL model, to advancing sustainability metrics with Redwood Hyperion and orchestrating supply chains through RedwoodConnect, we’ve built on a 22-year history of creating better solutions for our customers,” said Mark Yeager, CEO, Redwood Logistics. “With Chicago being a hotbed for logistics development, being included on the Crain’s Chicago Fast 50 list shows that while we have a long history, we continue to scale and lead with innovation.”
Redwood’s substantial growth stems from a combination of strategic acquisitions and innovative new offerings in its SaaS portfolio. In March 2023, Redwood launched a new sustainability tool, Redwood Hyperion, to the market. Redwood Hyperion provides users with load-by-load emissions calculations and access to a verified carbon credit marketplace. In April 2023, Redwood expanded into Monterrey, Mexico, offering extended cross-border logistics solutions to meet the growing need for manufacturers looking to nearshore their operations. With Redwood’s recent July 2023 acquisition of Rockfarm Supply Chain Solutions, the company now manages $5.5 billion in total freight across its 3PL and 4PL services, adding international freight forwarding and trade compliance to its offerings.
“The past few years have shown us that disruption is just a day away. Our team’s commitment to building tools for better visibility and supply chain resiliency have built a better user experience and fueled our growth,” continued Yeager. “Chicago is the city leading the charge on supply chain innovation. As we grow, the work we do stretches further across North America, but all of it starts in Chicago with our team.”
Nearly half of Redwood’s 900+ employees are based in Chicago. Redwood shows their commitment to the Chicago community through an annual fundraiser event The Redwood Games, with employees raising money for local organizations including Lurie Children’s Hospital of Chicago, in 2022, Redwood was named among Chicago’s Best and Brightest Companies to Work For and Women in Trucking’s Top Companies to Work For in Transportation. Additionally, this year Redwood earned its fifth consecutive FreightTech 100 recognition from FreightWaves and a Sustainable Product Award from SEAL for its launch of Hyperion.
Crain’s Fast 50 showcases 50 of the Chicago area's fastest-growing companies, ranked by percentage revenue growth from 2017 through 2022. View the full list of Crain’s Fast 50 here.
About Redwood
Redwood Logistics, a leading logistics platform company and modern 4PL headquartered in Chicago, has provided solutions for moving and managing freight for more than 21 years. The company’s diverse portfolio includes digital freight brokerage and flexible freight management all wrapped into a revolutionary logistics and technology delivery model, known as a modern 4PL. Redwood utilizes an open platform for digital logistics that empowers shippers to seamlessly mix-and-match partners, technologies and solutions into their own unique digital supply chain fingerprint. Redwood connects a wide range of customers to the power of supply chain management, technology and the industry’s brightest minds. For more information, visit www.redwoodlogistics.com.
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