Chicago-based supply chain visibility company project44, who spoke to Trans.INFO as recently as last week, has announced the closure of a Series D financing round worth $100M.
The funding round, led by Insight Partners, drew financing from 8VC, Emergence Capital, Omidyar Technology Ventures, Sapphire Ventures, Sozo Ventures, and Underscore VC. Insight Partners will also take a seat on the project44 board as a result of the deal.
project44 say the new funding will go towards the expansion of their multimodal carrier network as well as new product innovations, partnerships and integrations for all parts of the supply chain.
The company’s CEO, Jett McCandless, says the Series D funding, as well as closer relationships with project44’s investor partners, would „accelerate innovation to transform the global supply chain”and „help organizations prepare for a new normal.”
The announcement comes at a time when companies increasingly see the value of supply chain visibility to their operations.
The market for providing such solutions is most certainly competitive, with the likes of FourKites, Specright and Anvyl among those competing with project44 in this space.