Minneapolis based Railbox Consulting, a tech start-up focused on the intermodal shipping container industry, won the 2020 Tekne Award for Retail, Supply Chain, & Distribution. Other finalists in the category included SPS Commerce (NASDAQ: SPSC) & Digital River.
The student developers (Shubham Teotia of St. Cloud State University, and Macalester College students Anh Nguyen and Nam Phung) all joined Railbox via the Minnesota Technology Association’s SciTech Internship Program. Led by CIO Derek Murashige, the team built a shipping container buying wizard for the U.S. and Canada, with a best price algorithm powered by Amazon Web Services (NASDAQ: AMZN) and Google Cloud (NASDAQ: GOOGL) technology.
When asked how Railbox was able to achieve so much with such a small team, Shubham Teotia attributed it to “the freedom to work fearlessly.” Mr. Teotia, who earned his master’s degree in computer science in December and has accepted a full-time position with Railbox, added, “I could actually see myself making a difference, which may not be the case for someone working for a company with 9-figure revenue.”
The team of interns was led by CIO Derek Murashige, who was Director of Customer Systems Excellence at GoDaddy (NYSE: GDDY) prior to joining Railbox. “What makes our software special is that it’s uninterrupted by the limitations of someone else’s coding,” said Mr. Murashige. Adding, “with the democratization of cloud based computing technology, a small company like ours only needs a good idea and a few gritty developers to compete with publicly traded companies.”
Already recognized by the Business Journal in 2019 as one of Minnesota’s 50 Fastest Growing Private Companies, Railbox says the new technology helped them to grow eCommerce sales by 66% year over year, and overall revenue by nearly 50% in 2020. They give a great deal of credit to MnTech and their SciTech Program. “The level of talent we were able to access through SciTech was incredible,” said Railbox President Mike Norton. Railbox recently added another intern through SciTech, and aims for a repeat Tekne victory in 2021.