project44, a global Chicago-based supply chain visibility platform, recently raised $80 million in funding.
This raises the platform’s value to $2.7 billion, 12 percent higher than in January. The company will use this last round of funding for several initiatives, such as measuring and mitigating supply chain emissions 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,” Jett McCandless, project44 founder and CEO, said. “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 are able to 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.”
Sustainable investment management firm Generation Investment Management led the funding round along with A.P. Moller Holding, a privately-held Danish investment company. Other investors included Goldman Sachs Asset Management.