FourKites, a Chicago, IL-based provider of a predictive supply chain platform, raised $35m in Series B funding.
The round was led by August Capital with participation from existing investors Bain Capital Ventures and Hyde Park Venture Partners. In conjunction with the funding, Eric Carlborg, general partner at August Capital, will join the FourKites board.
The company intends to use the funds for its geographic and product expansion.
Led by Mathew Elenjickal, founder and CEO, FourKites provides a predictive supply chain platform, delivering real-time visibility and execution for Fortune 500 companies and third-party logistics firms. Using a proprietary algorithm to calculate shipment arrival times, FourKites enables customers to lower operating costs, improve on-time performance, and strengthen end-customer relationships. With a network of more than four million GPS/ELD devices, FourKites covers all modes including ocean, rail, parcel and over-the-road.
The platform is optimized for mobile.
Customers include Unilever, AB InBev, Best Buy, Conagra Brands, Kraft Heinz, Nestlé, Perdue Foods, Smithfield Foods and US Foods, among others.