Banyan co-founders Lance Healy and Jim Walborn initially joined forces to automate Jim’s commercial construction materials distributorship Concrete Solutions in the late ‘90s, without any intention of becoming technology entrepreneurs. However, they found themselves frustrated that there was no automated way to collect shipping rates for their online construction material business, and began developing processes to automate carrier connections and better manage freight logistics.
Realizing the potential for software that could help other companies do the same way, they took this innovative idea to GLIDE, Lorain County Community College’s technology incubator, in 2001 — and so began Banyan Technology.
The technology startup became the first to introduce API carrier connectivity to the freight industry, before anyone had even heard of it — a breakthrough that has revolutionized the way shippers, brokers, forwarders, and 3PLs connect with their carrier networks and do business. The company has grown explosively since, outgrowing first GLIDE and then its location in the Entrepreneurship Innovation Center in Elyria. By 2014, Healy and Walborn had secured agreements with 3 of the top 5 largest 3PLs in the country and were growing rapidly.
To manage this growth, Healy and Walborn hired on Brian Smith in 2017 as Banyan Technology’s new chief executive. Moving the organization to a new headquarters in Westlake, Ohio, Smith has overseen the development of new solution features and industry partnerships, as well as the expansion of Banyan’s technology platform functionality across the global supply chain.
Today, Banyan Technology is recognized as North America’s leading provider of live carrier and API connectivity for transportation management. With more than 2,000 TL, LTL, Local and Parcel carrier connections and 34,000 client locations accessing the application, Banyan Technology provides commercial shippers, brokers, and 3PLs with unparalleled access to carrier data. These connections boost efficiency, improve visibility and deliver permanent reductions in shipping costs.
Banyan continues to innovate and drive efficiencies to the market through introduction of dynamic pricing solutions for carriers and normalizing communications with hundreds of local and last mile carriers. There are always exciting new solutions in the works at Banyan.