This news comes on the heels of its $240M funding round. It plans to use the funds to explore acquisition opportunities and drive product development. Here are the top-line bullets you need to know.
project44, a supply chain visibility platform, has raised $240M in private equity funding from Goldman Sachs, Chicago Ventures, and Emergence Capital Partners, among others.
HOW’S THE COMPANY PERFORMING?
- Chicago-based project44 enables shippers and logistics service providers to gain visibility into and streamline transportation processes.
- The company has over $100M in ARR, and it tracks more than 1B packages each year.
- project44 has over 1K employees across 17 global offices.
- The company has over 1K customers, including brands like Amazon, Baker Hughes, Danone, Dollar General, FedEx, and General Mills.
- It offers supply chain visibility across 166 countries, and it plans to expand its geographical reach.
WHY DOES THE MARKET MATTER?
- The global supply chain management (SCM) market is expected to reach a value of $62.6B by 2031, growing at a CAGR of 11.4%, according to Future Market Insights.
- Companies across industries are increasingly prioritizing operational efficiency and data-driven decision-making, which is contributing to market growth.
- The Covid-19 pandemic has disrupted supply chains across the world, increasing the demand for solutions designed to help enhance supply chain visibility amid disruption.