Steam Logistics Company Profile

Background

Founded in 2012, Steam Logistics is a fully integrated third-party logistics (3PL) provider headquartered in Chattanooga, Tennessee. The company offers comprehensive multi-modal solutions, including domestic transportation, international ocean and air freight, customs brokerage, drayage solutions, and intermodal transport. Serving over 5,000 customers globally—from Fortune 500 companies to small and medium-sized businesses—Steam Logistics is committed to delivering value across the entire supply chain. The company's mission is to be its customers' number one choice as a logistics partner, emphasizing long-term relationships and exceptional service.

Key Strategic Focus

Steam Logistics focuses on providing holistic logistics services with a single point of contact for customers, ensuring accountability and streamlined communication. The company integrates technology to offer end-to-end visibility throughout complex supply chains, tailoring solutions to meet individual customer needs. By managing operations from a centralized hub and utilizing digitally optimized systems, Steam Logistics aims to unchain international logistics and tie together the various parties and processes involved in global trade.

Financials and Funding

As of 2020, Steam Logistics reported gross revenues of approximately $100 million, a significant increase from $33 million in 2019. The company has been largely bootstrapped since its founding, focusing on profitable growth without relying heavily on external funding. In April 2020, Steam Logistics secured a Paycheck Protection Program (PPP) loan of $602,000 to support its operations during the COVID-19 pandemic.

Technological Platform and Innovation

Steam Logistics positions itself as a tech-enabled 3PL, leveraging existing platforms and building upon them to enhance service delivery. The company has developed a data warehouse that integrates information from both domestic and international systems, providing customers with intuitive multimodal visibility into their freight through a customer-facing portal called SteamVision. This approach ensures seamless visibility and efficient management of complex supply chains.

Leadership Team

Jason Provonsha, Chief Executive Officer and Board Member

Formerly led sales at Access America Transport before joining Steam Logistics.

Steve Cox, President

Previously served in leadership roles at Access America Transport.

Adam Shearer, Chief Financial Officer

Joe Saggio, Chief Operating Officer

Aziz Panjwani, Chief Technology Officer

The leadership team brings extensive experience in logistics and technology, driving the company's strategic initiatives and growth.

Competitor Profile

Market Insights and Dynamics

The logistics and transportation industry is characterized by a mix of large multinational corporations and numerous smaller players, creating a competitive landscape with opportunities for differentiation through technology and customer service.

Competitor Analysis

Key competitors include:

Prime Inc: A freight transport and logistics trucking company.

Canada Cartage: Provides logistics and transportation services.

SMSA Express: An express transportation company.

Sonora: Offers freight and logistics services.

These companies vary in size and service offerings, contributing to a dynamic competitive environment.

Strategic Collaborations and Partnerships

Steam Logistics has attracted investment from Dynamo Ventures and Lamp Post Group, supporting its growth and expansion initiatives.

Operational Insights

In April 2021, Steam Logistics expanded its service offerings by launching a domestic truckload brokerage operation, adding dry van, refrigerated, and flatbed truckload brokerage to its existing air, ocean, and customs brokerage services. This strategic move allows the company to provide a more integrated and comprehensive logistics solution to its customers.

Strategic Opportunities and Future Directions

Steam Logistics continues to focus on integrating technology and expanding its service offerings to meet the evolving needs of the global supply chain. The company's commitment to customer-centric solutions and operational excellence positions it well for future growth and success in the logistics industry.