Sifted LLC: Comprehensive Company Profile

Background

Overview

Sifted LLC, formerly known as VeriShip, is a Kansas City-based company specializing in logistics intelligence and parcel spend management. Founded in 2005, the company has evolved to offer comprehensive solutions that empower businesses to optimize their shipping operations and reduce costs. In 2020, VeriShip merged with Sifted, combining their expertise to enhance logistics intelligence services.

Mission and Vision

Sifted's mission is to revolutionize logistics decision-making by providing businesses with the clarity and control needed to optimize 100% of their parcel spend and operations. Their vision is to be the leading logistics technology company that transforms logistics from a costly administrative burden into a competitive advantage.

Primary Area of Focus

Sifted focuses on logistics intelligence, offering software solutions that monitor shipping spend, carrier performance, and contract compliance. Their platform, SiftedAI, utilizes artificial intelligence to deliver personalized recommendations, continuously scanning for anomalies and alerting shippers when action is needed.

Industry Significance

In the logistics and supply chain management industry, Sifted stands out by integrating advanced technology with logistics operations, enabling businesses to achieve cost savings and operational efficiency. Their innovative approach has set a new standard in parcel spend management.

Key Strategic Focus

Core Objectives

Parcel Spend Optimization: Provide businesses with tools to monitor and optimize their shipping expenses.

Operational Efficiency: Automate manual tasks and offer real-time insights to streamline logistics operations.

Data-Driven Decision Making: Utilize data analytics to inform strategic logistics decisions.

Specific Areas of Specialization

Logistics Intelligence: Develop software solutions that offer visibility into shipping spend and performance.

Artificial Intelligence Integration: Incorporate AI to provide predictive analytics and personalized recommendations.

Carrier and Contract Management: Assist businesses in managing carrier relationships and ensuring contract compliance.

Key Technologies Utilized

SiftedAI Platform: An AI-driven platform that continuously monitors shipping data to identify cost-saving opportunities.

Data Analytics Tools: Employ advanced analytics to process and interpret complex logistics data.

Automation Software: Automate tasks such as invoice reconciliation and claims processing to enhance operational efficiency.

Primary Markets Targeted

Sifted primarily serves small to midsize businesses across various industries, including retail, manufacturing, and e-commerce, helping them optimize their parcel shipping operations.

Financials and Funding

Funding History

Sifted has maintained a bootstrapped approach, achieving significant revenue milestones without external funding. In 2019, the company reached $10 million in annual revenue, demonstrating substantial growth and market acceptance.

Recent Financial Performance

In 2023, Sifted reported a revenue of $28.3 million, reflecting consistent growth and a strong market presence.

Intended Utilization of Capital

While specific details on capital utilization are not publicly disclosed, the company's growth trajectory suggests investments in technology development, market expansion, and operational scaling.

Pipeline Development

Key Pipeline Candidates

Sifted's primary offering is the SiftedAI platform, which is continually updated to enhance its capabilities in logistics intelligence.

Stages of Development

SiftedAI Platform: Launched in 2024, this platform is in the continuous improvement phase, with regular updates to incorporate new features and optimizations.

Target Conditions

The platform is designed to address challenges in parcel spend management, including cost optimization, carrier performance monitoring, and contract compliance.

Anticipated Milestones

Future milestones include the introduction of SiftedAI Copilot, an "always-on" logistics analyst, expected to further enhance the platform's capabilities.

Technological Platform and Innovation

Proprietary Technologies

SiftedAI: An AI-driven platform that provides continuous monitoring and optimization of parcel shipping operations.

Significant Scientific Methods

Predictive Analytics: Utilizes machine learning algorithms to forecast shipping costs and identify potential savings.

Anomaly Detection: Employs AI to detect irregularities in shipping data, prompting timely interventions.

Leadership Team

Key Executives

Shawn McCarrick: Chief Executive Officer. Formerly COO at Freightquote, he brings extensive experience in logistics and operations.

Sean Deorsey: Chief Financial Officer. Oversees financial strategy and operations, ensuring fiscal responsibility and growth.

Heather Guerry: Senior Vice President of Client Success & Operations. Focuses on client relations and operational excellence.

Jeff Juiliano: Vice President of Engineering. Leads the development and enhancement of Sifted's technological platforms.

Jeremy Lee: Vice President of Sales. Drives sales strategies and business development initiatives.

Hannah Hughes: Vice President of Marketing. Manages marketing strategies and brand positioning.

Mark Kolde: Vice President of Logistics Engineering. Oversees logistics engineering projects and innovations.

Tricia Pettyjohn: Vice President of Human Resources. Manages human resources and organizational development.

Competitor Profile

Market Insights and Dynamics

The logistics intelligence and parcel spend management market is growing, driven by the increasing complexity of global supply chains and the need for cost optimization. Businesses are seeking advanced solutions to gain visibility and control over their shipping operations.

Competitor Analysis

GoodShip: Offers logistics optimization solutions with a focus on data analytics.

Cognitive Operational Systems: Provides software for supply chain management and logistics intelligence.

Reveel: Specializes in freight audit and transportation spend management.

Strategic Collaborations and Partnerships

Sifted has not publicly disclosed specific strategic collaborations or partnerships.

Operational Insights

Sifted differentiates itself by integrating AI into logistics operations, offering continuous monitoring and personalized recommendations, which sets it apart from traditional logistics service providers.

Strategic Opportunities and Future Directions

Sifted plans to expand its product offerings, including the upcoming SiftedAI Copilot, to further enhance its logistics intelligence capabilities and address evolving market needs.