FourKites, a Chicago, IL-based predictive supply chain visibility platform, raised $50m in Series C funding.
The round, which brought total capital to $100.5m, was led by existing investors August Capital, Bain Capital Ventures, CEAS Investments and Hyde Park Angels.
The company intends to use the funds to expand its supply chain platform with new applications and capabilities, grow its global network of top shippers and carriers, and extend its “zero deadhead” initiative to allow shippers to share unused truck capacity.
Launched five years ago by Mathew Elenjickal, founder and CEO, FourKites provides a predictive supply chain visibility platform, delivering real-time visibility and predictive analytics for a network of Global 1000 companies and third-party logistics firms.
With a network of more than four million GPS/ELD devices, FourKites covers all modes, including truckload, LTL, ocean, rail, intermodal, last mile and parcel.
FourKites currently tracks shipments in 55 countries worldwide, helping top shippers and carriers collaborate based on real-time data across North America, South America, Europe and Africa. The network now includes more than 200 of the world’s top shippers, including AB InBev, Conagra Brands, Kraft Heinz, Nestlé, Perdue Foods, Smithfield Foods, Unilever, Walmart Canada and many others.
The platform, live in eight languages, with product guides in 15 languages, is optimized for mobile and equipped with market-leading end-to-end security.
Its “zero deadhead” initiative aims to help shippers share unused truck capacity, powered by a new Predictive Capacity Management product that dynamically matches shipments with available capacity.
The company now has more than 300 employees in Chicago (headquarters) and Chennai, India; with operations in Mexico, Brazil, Poland and the United Kingdom.