Project44, a global provider of supply chain visibility for shippers and logistics service providers (LSPs), has closed a $100 million Series D financing.
The financing, led by Insight Partners, follows the company's rapid growth in helping organisations around the world implement initiatives to strengthen their logistics processes and more effectively track shipments during the challenging period brought on by the Covid-19 pandemic. Also participating in the funding were 8VC, Emergence Capital, Omidyar Technology Ventures, Sapphire Ventures, Sozo Ventures and Underscore VC.

The new funding will go towards the continued global-scale expansion of project44's multimodal transportation network, as well as product innovations, partnerships and integrations both upstream and downstream within logistics to deliver the most advanced and comprehensive offering on the market.

"The events of 2020 have amplified the challenges organisations face in gaining visibility in logistics," said Jett McCandless, CEO and founder of project44. - Digital transformation to better understand and manage shipment delays and status was important before the pandemic, but now it is a business imperative. Project44's solution was a natural choice for organisations that needed to adapt to unprecedented logistics challenges. We have seen the largest ever increase in new customers and the highest capacity expansion of existing contracts, at 118%. Now, with this funding, we can accelerate innovation, helping organisations prepare for a new normal."