BlueGrace Logistics, a third-party logistics services company headquartered in Tampa, has entered an exclusive partnership agreement with Uber Freight.
Chicago-based Uber Freight, a vertical of Uber founded in 2017, is a logistics platform that utilizes Uber’s technology to connect shippers with carriers. Last year, Uber Freight raised $500 million in Series A preferred stock financing.
The agreement provides Uber’s U.S. shippers access to BlueGrace’
“We started talking over a year ago and they wanted to add to their tech platform to their clients and realized we’d be a good fit,” BlueGrace CEO and Founder Bobby Harris said. “Uber is serving a need for matching capacity with demand, whether it’s a car to take you across town or a truck, and they do that in all forms and fashions, for us, they needed someone with its LTL platform.”
He added how the e-commerce boom of activity and the supply chain becoming delayed for various reasons are driving forces of the partnership.
The financial terms of the agreement were not disclosed.
BlueGrace is one of Tampa Bay’s largest private companies, generating over $360 million in revenue in 2019. It’s known for working with small businesses to Fortune 500 corporate giants. Last year, BlueGrace acquired Anthym Logistics, a freight broker with its primary offices in Tampa and Chicago. It was the first external transaction for BlueGrace since a $255 million investment by private equity firm Warburg Pincus in 2016.
“When you partner with someone like Uber, you have to be on top of your game. We are doing exceptionally well when it comes to building out these technologies. Uber and other forces in the logistics space are making it extremely easy for us to grow,” Harris said.
BlueGrace currently has 500 employees, with many based in St. Petersburg. As a result of the Covid-19 pandemic, the roles are largely hybrid with a combination of virtual and in-person.
The firm plans to hire an additional 80 to 100 workers over the next 12 months from tech positions to customer services. The headcount may increase even more so as BlueGrace’s demands grow.