Norfolk Southern Corporation announced an $8 million investment in DrayNow, Inc. and the formation of a joint venture to transform the intermodal capabilities of rail. Together, the companies will develop and deploy technology to improve the customer and drayage driver experience, enhance supply chain transparency, and increase network fluidity.
DrayNow is revolutionizing intermodal's first and final mile journey through an app that provides customers with real-time shipment tracking and document capture of drayage shipments. Norfolk Southern is the operator of rail's most extensive intermodal network in the eastern U.S. Together, this will unite a currently fragmented supply chain and increase the ability to best serve intermodal customers.
"We're a customer-centric, operations-driven company. Together with DrayNow, we are reimagining the way we serve our customers and work with drayage," said Norfolk Southern Chief Marketing Officer Ed Elkins. "While we are a B2B business, our customers expect a B2C experience. This means leveraging cutting-edge technology to give them a full and transparent view into their shipments and a seamless administrative experience."
Norfolk Southern's $8 million investment will enable DrayNow to further technology development, increase sales and marketing, and add new team members. Norfolk Southern will also be represented on the board of DrayNow by Chief Strategy Officer Mike McClellan.
"We are taking a comprehensive look at the supply chain with an emphasis on areas where we can modernize our processes and extend our reach even further beyond the track," said McClellan. "Our shared goal is to improve our customer experience and help them grow their businesses. This is perfectly aligned with our long-term vision for Norfolk Southern."
"DrayNow has always been committed to building technology solutions that address intermodal's unique challenges and serve all the stakeholders of the intermodal supply chain," said DrayNow Chief Executive Officer Mike Albert. "Norfolk Southern is the perfect strategic partner to accelerate our vision of leveraging technology for transparency and efficiency all the while expanding our operating business."