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Highway founder and CEO Jordan Graft at a FreightWaves event. (Photo: Jim Allen / FreightWaves)

FTV Capital and Lead Edge back Highway

Highway, a leading technology platform specializing in Carrier Identity solutions for the logistics sector, has secured a strategic minority growth equity investment led by FTV Capital, with participation from Lead Edge Capital. This funding, announced on August 20, 2025, aims to propel Highway’s expansion, enhance its product offerings, and solidify its position as the industry standard for compliance and fraud prevention in freight brokerage.

Founded in 2022 in Dallas, Highway was established to address the escalating challenge of fraud in the U.S. freight industry, which is growing increasingly complex due to rising shipping volumes, reliance on asset-light carriers, and supply chain volatility. Freight brokers, who manage approximately 30% of truckload spend, are particularly vulnerable to sophisticated attacks that can lead to significant losses and disruptions. Highway’s platform counters this by providing real-time data verification, automated compliance tools, and advanced fraud detection mechanisms. It enables brokers to vet carriers efficiently, build trusted networks, and operate with greater confidence. Currently, Highway serves over 1,050 brokers, including 70 of the top 100 in the U.S., and fosters a growing ecosystem that includes carriers and insurance partners.

The investment will support Highway’s ambitious growth plan, focusing on product diversification and broader market reach to attract more customers. Jordan Graft, CEO of Highway, emphasized the platform’s role in combating "skyrocketing fraud within networks in real-time." He highlighted FTV Capital’s expertise in backing innovative supply chain businesses as key to executing their expansion strategy. Jerome Hershey, Principal at FTV Capital, noted the intensification of fraud amid rising freight volumes and brokers’ increasing market share. He praised Highway’s mission-critical software for creating a secure, data-enriched ecosystem that reduces losses, citing the firm’s two decades of experience in tech-enabled logistics investments.

This partnership underscores the urgent need for robust fraud protection in logistics, where traditional methods fall short against evolving threats. By leveraging FTV’s domain knowledge and resources, Highway is poised to innovate further, potentially introducing new tools to streamline operations and enhance ecosystem security. The move reflects broader industry trends toward digital solutions that prioritize trust and efficiency in freight management.

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Freight Fraud Video of the Week 🤩

State & Co Truck Insurance’s update on the freight fraud crisis.

2025 on track to see 22% more cargo theft y/y

The National Insurance Crime Bureau (NICB) forecasts a 22% increase in cargo theft losses for 2025 compared to 2024, driven by the digitalization of the supply chain. This advancement, while boosting efficiency, has opened security vulnerabilities that criminals exploit through fraudulent pickups, fictitious carriers, and cyber manipulations. Technologies like GPS jamming to evade tracking, Voice over Internet Protocol (VoIP) for spoofing carrier info, synthetic identities blending real and fake data, and phishing attacks enable thieves to operate remotely, often from abroad.

Robert Bornstein, NICB’s cargo theft program director, highlighted the issue: “From the comfort of their own home or overseas, a criminal can use voice over internet protocol (VoIP), GPS and a synthetic ID to reroute electronics, medicine, clothing, food and beverages meant for your local store to their doorstep in another country. The cost of these stolen goods is then passed along to the consumer.” This prediction follows a surge in 2024, where CargoNet reported a 27% rise in theft incidents over 2023’s record levels, with each quarter breaking prior highs. The average value per theft climbed to $202,364 from $187,895, resulting in an estimated $455 million in total losses.

The escalating cargo crime has prompted legislative action. In Arkansas, a March 2025 law escalates penalties for organized cargo theft, adding up to 10 years to sentences and barring early release credits for the enhanced portion. Shannon Newton, president of the Arkansas Trucking Association, stated: “These laws demonstrate that Arkansas lawmakers understand the economic threat organized retail crime and cargo theft pose to our industry and all consumers.”

Federally, the Combating Organized Retail Crime Act seeks to bolster enforcement by allowing criminal forfeitures for interstate stolen goods crimes, expanding money laundering statutes, prosecuting groups using commerce for facilitation, and establishing an Organized Retail and Supply Chain Crime Coordination Center under Homeland Security Investigations. As of August 14, 2025, the bill boasts 113 co-sponsors from 35 states.

This trend underscores the need for enhanced security in logistics, as digital tools empower thieves while lawmakers scramble to adapt protections.