Feb 26 2018
Fourkites, a freight-shipment monitoring startup that gives real-time visibility and predictive analytics to shippers and 3PLs (third-party logistics suppliers) raised a $35M Sequence B from August Capital. Current traders Bain Capital Ventures and Hyde Park Mission Companions additionally participated within the spherical.
The newest spherical brings FourKites’ overall investment to $51M. The corporate will use the investment proceeds for geographic and product-line enlargement. Since its founding in 2014, FourKites has scored a number of high-profile consumers together with Unilever for supply chain tracking throughout Europe, AB InBev in South Africa, Best possible Purchase, Kraft Heinz, Nestlé, and US Meals amongst others. The corporate’s speedy enlargement is comprehensible for the reason that producers and different companies are depending on ‘just-in-time’ shipments of parts and uncooked fabrics. And, consumers are in a position to peer prematurely if the cargo will probably be on time or overdue.
FourKites’ key use instances come with cargo location tracking, real-time trailer temperature, situation tracking, and predictive analytics. It these days supplies products and services to business segments together with truckload, less-than-truckload (LTL), rail, ocean, and parcel.
The answer works through monitoring a load all over its lifecycle. The burden information and provider title are pulled from shipper’s TMS/ERP. It then pulls truck, trailer, and GPS identifier from dispatch device. It then pulls knowledge from a cargo’s GPS/ELD and Telematics device like TomTom Telematics, Zonar, or Vnomics. Normally, FourKites’s device pings the telematics instrument each and every 15 mins. At the remaining leg of the answer, FourKites supplies a driver-facing app to seize proof-of-delivery, e-signature and transport web site scores.
FourKites’ key competition come with TransFix, Cargomatic, Shipment Leader, and Trucker Trail, regardless that, those firms have a special working fashion.
+ In step with Wall Side road Magazine, FourKites has 160 staff and plans to double its head rely this 12 months.
+ The corporate’s Leader Government Mathew Elenjickal mentioned earnings higher through 400% during the last 12 months, regardless that he didn’t supply details about revenues in 2017.
+ FourKites prior to now raised $13M Sequence A investment from Bain Capital Ventures in Oct 2016.
Extremely joyful to announce our $35M Sequence B elevate: https://t.co/GYk0HitbgP
— FourKites (@FourKites) February 21, 2018
— John Pletz (@johnpletz) February 20, 2018
— FourKites (@FourKites) February 1, 2018