ArcBest
8401 McClure Drive, Fort Smith, AR, 72916, United States
Overview
ArcBest Corporation® is a multibillion dollar logistics company with five subsidiaries that solve complex transportation and logistics challenges: ABF Freight®, ABF Logistics®, Panther Premium Logistics®, FleetNet America® and ArcBest Technologies. From Fortune 100 companies to small businesses, their customers trust and rely on ArcBest brands for all their transportation and logistics needs. They are working hard to meet the market demand for more easily accessible solutions through a single point of contact. They build relationships that last for decades and their customers assign a high degree of value for the high level of service and professionalism they provide. When customers talk about us, they say that they solve problems, they are easy to do business with and they are good partners who understand them. In fact, when they solve one problem for them, they increasingly ask us to help solve another. This relentless focus on meeting their customers’ needs has resulted in the development of many of the emerging businesses they now operate. Their over 13,000 employees deliver knowledge, expertise and a can-do attitude with every shipment and supply chain solution, residential move and vehicle repair. Headquartered in Fort Smith, Ark., ArcBest℠ has come a long way from when its flagship brand, less-than-truckload carrier ABF Freight, opened its doors more than 90 years ago. ArcBest companies have significantly expanded their total product and service offerings through an array of emerging businesses that all focus on skillful solutions, emerging technology and their employees’ will to get things done. ArcBest finds a way.
- Total investments
- 1
- Lead investments
- 1
- Investments · 12mo
- 0
- Active investors
- 7
Sector focus
- Automotive
- Information Technology
- Railroad
- Software
- Transportation
Investment portfolio
- Phantom Auto
Led · Equity · Jan 2022
Phantom Auto develops a teleoperation platform enabling remote drivers to operate vehicles such as forklifts, yard trucks and sidewalk delivery bots. Founded in 2017, the company shifted focus from robotaxis to confined, low-speed logistics vehicles where commercial adoption is nearer-term. Its product set includes a remote driving system and a distance-driver training product that helped customers onboard workers during the pandemic. Phantom Auto has 17 commercial agreements, including Kenco, and a deepening relationship with ConGlobal, which operates a 700-yard-truck fleet. The yard truck program requires drive-by-wire trucks supplied by Terberg and will expand as Terberg delivers those vehicles. The company employs about 120 people, has raised $95 million to date and entered the current round at a reported pre-funding valuation of $500 million. Phantom Auto builds remote-operation software that lets operators control forklifts and other material-moving vehicles from off-site locations over available wireless networks. Its stack is described as hardware- and network-agnostic and aggregates connectivity from carriers such as AT&T and Verizon to deliver secure, low-latency sensor streaming and vehicle control. The technology supports use cases where humans remain in the loop for tasks like loading trailers and placing pallets at variable heights. Phantom already works with logistics and robotics firms such as ArcBest, NFI, Kenco and Serve Robotics. The company has roughly 75 full-time employees and plans to double headcount in the next few years while scaling products and services. Management says it will use recent funding to execute commercial commitments and expand deployments. Phantom Auto builds a teleoperation platform that allows remote drivers to take control of autonomous vehicles when they encounter difficult scenarios or accidents. The system uses public cellular networks and is intended as a safety backup rather than for split-second interventions. Phantom is expanding into logistics applications—sidewalks, warehouses, cargo yards—and commercial use cases including delivery robots, forklifts, and yard trucks. Customers can train their own employees to operate vehicles remotely; the company does not typically supply remote drivers for these deployments. Phantom works with large logistics companies and has named partner Terberg, a Dutch yard truck manufacturer. Founded in 2017, the company has raised about $19 million to date.