Contguard, a Tel AViv, Israell-based provider of supply-chain shipment monitoring and business-intelligence services, received an investment from Citi Ventures and Canaan Partners Israel.
The amount of the deal was not disclosed.
The new funds will enable the company to accelerate technology and product development, expand its sales and global support activities and develop its partnerships with banks and insurance companies.
Founded by CEO Yiftach Nativ and COO Hanan Weisler, Contguard provides IoT-enabled shipment monitoring, data and business intelligence to manufacturers and suppliers that ship materials, components and products globally. The company’s service delivers actionable insights about goods in transit, which optimizes the supply chain.
Contguard is active in over 100 countries and serves Fortune 500 customers, including international names in the pharmaceutical, food, and automotive industries.