MacroPoint, a Cleveland, OH-based creator of a multi-modal freight tracking network that provides shippers, logistics service providers and carriers real-time visibility into load status, received a $44m investment from Susquehanna Growth Equity.
The company plans to use the proceeds for product and network expansion, both in the US and internationally.
Led by Bennett Adelson, CEO, MacroPoint has developed patented, automated load monitoring and tracking software that provides real-time load location visibility by using any in-cab ELD/GPS device, cell phone, or trailer and container tracking system. The cloud-based solution enables location monitoring and tracking, delivery monitoring and event notifications, and exception management and predictive analytics capabilities. The platform is also integrated with a number of TMS systems, automating the entire process and eliminating the need for drivers to check in with dispatchers, and for shippers and logistics service providers to check in with carriers.
In conjunction with the financing, MacroPoint is adding supply chain and technology experts to its board of directors, including Dan Dershem, founder and former CEO of LeanLogistics, and Ronald Kasner, CFO of iCIMS, a provider of talent management software with over $100m in annual recurring revenue.