project44 Raises $35 Million to Turn Data into True Supply Chain Visibility

Financing Led by OpenView to Bring Total Funding to $48 Million

CHICAGO–(BUSINESS WIRE)–project44
today announced $35 million in new funding since the company’s 2016
Series A to power true supply chain visibility, and in turn deliver a
faster and more reliable global shipping experience. OpenView
(Datadog, Instructure, Workfront) has led the financing, with additional
investment from new investor 8VC
(Wish, Oculus, Freightwaves), and existing investors Emergence
Capital (Salesforce, Veeva Systems, Box, Zoom), eBay founder Pierre
Omidyar’s firm Omidyar
Technology Ventures (Convoy), Chicago
Ventures (SpotHero, G2 Crowd), and Pritzker
Group Venture Capital (Cleversafe, Fleetmatics).

project44 (p44) brings dynamic shipment data and true supply chain
visibility to a black box industry. By distilling the complexity of a
shipment into six universal automations that remedy the industry’s most
immediate pain points – pricing, routing, scheduling, tracking, delivery
documentation, and payments – project44 delivers a more visible and
predictable transportation experience.

“In today’s connected world, data is power. The amount of information
available to an organization and its ability to glean insight from its
data is what separates any company from its competition,” states Jim
Baum, Venture Partner at OpenView who joins the p44 board. “p44 is
building a category defining company. We invested because their unique
approach provides customers the ability to unearth, manage, analyze and
act upon all of their data, regardless of where it originated or
resides.”

GE
Transportation is one such customer realizing these strategic
benefits, and in turn adding value to their customers, as project44
rapidly stitches together multimodal and multinational shipment
workflows. “With project44, we take a step closer to providing a more
visible and reliable port-to-door ecosystem,” commented Jennifer
Schopfer, Vice President and General Manager of GE Transportation
Transport Logistics. “We can seamlessly and instantly connect
transportation data from railroad networks, yards, intermodal terminals,
and maritime ports into a single transportation management workflow.”

“Our goal from day one has been to create opportunities for individuals,
companies, and communities by reimagining how to execute in a way that
hasn’t been done before,” stated project44 CEO and Founder Jett
McCandless. “We’ve sought out the best investors to accelerate our
ability to help global enterprises turn dynamic data into transportation
opportunities, creating a more productive and successful world.”

While project44 has expanded their North American coverage to include
rail and parcel shipments, in addition to full truckload,
less-than-truckload (LTL) and Volume LTL, they have also grown revenue
by over 446 percent in the last 12 months. Customers include many of the
world’s leading enterprises such as GE Transportation, Uline,
Technicolor, ABB, Steelcase, Echo Global Logistics, RR Donnelley,
Worldwide Express, Schneider Logistics, and GlobalTranz, among others.

With visibility into everything from pricing and scheduling through
in-transit tracking and payments, p44 customers know more than just when
shipments will arrive at their destination. For
a customer like Technicolor, one of the world’s largest media and
entertainment providers shipping inventory into the world’s top
retailers such as Target and Walmart on a daily basis, that seamless and
wide-ranging visibility is the lynchpin of their success in today’s
on-demand economy.

“To meet the strict delivery deadlines, we need to have real-time
visibility into every single SKU and box in our supply chain,” stated
Elaine Singleton, VP, Supply Chain at Technicolor. “project44 enables us
to collect extensive information from disparate parts of our
transportation network including shipments in pre and post-transit
stages. We automatically marry that data with our inventory databases to
provide one single big picture view of everything that matters across
our entire supply chain.”

About project44:

In today’s connected world, data is what powers modern applications. The
amount of information available to an organization and its ability to
glean insight from that data is what separates any company from its
competition.

project44
(p44) is a logistics technology company that brings dynamic shipment
data and true supply chain visibility to a black box industry,
empowering organizations to be nimble, proactive and reliable as they
serve their customers. We enable the smartest and most efficient
shipping experiences by providing full visibility into the entire
shipment workflow including pricing, routing, pickup, tracking and
payments. With API-based connectivity to the largest network of
multimodal transportation providers and partners, our customers have
more control at the time it matters most.

Learn more:

Twitter: https://twitter.com/freightpipes

LinkedIn: https://www.linkedin.com/company/9265792/

Blog: http://p-44.com/blog

Contacts

project44
Media Relations:
Ally Lynch, 312-300-4899
VP
of Marketing