Project44, a supply chain visibility platform, announced an $80 million fundraising round
Project44, a supply chain visibility platform, announced an $80 million fundraising round headed by Generation Investment Management and A.P. Holding Moller. Previous investors included Goldman Sachs Asset Management (“Goldman Sachs”), TPG, Emergence Capital, Chicago Ventures, Sapphire, 8VC, Sozo Ventures, and Omidyar Technology Ventures. The round currently values project44 at $2.7 billion, a 12% increase over its Series F valuation published on January 11, 2022. With the firm already on the road to profitability, the new capital will support several critical initiatives, including worldwide supply chain emissions measurement and mitigation across all modes of transportation.
“When uncertainty from supply chain disruptions, inventory costs and economic policy is at an all-time high, project44 continues to deliver lasting business value to our customers. This latest round of funding will accelerate our ability to connect all parties across the supply chain ecosystem and deliver the highest quality supply chain and emissions visibility data to our shipper, freight forwarder and LSP customers. With these data feeds, our customers can outperform their competitors by managing inventory better, delivering an exceptional customer experience and building a more predictable and resilient supply chain. We will continue to deliver incredible value for our customers, no matter what challenges or opportunities 2023 brings.” says Jett McCandless, CEO & Founder of project44.
project44 is a Chicago-based SaaS platform with a varied staff spread over 23 global offices, including Austin, Amsterdam, Kraków, Paris, Sao Paulo, Shanghai, and Tokyo. Project44 operates an end-to-end visibility platform, tracking over 1 billion unique shipments annually for over 1,200 leading brands, including major corporations in manufacturing, automotive, retail, health sciences, food & beverage, and oil, chemical & chemical & gas. Shippers and carriers worldwide are using project44 to improve predictability, robustness, and sustainability.