Total amount raised
$942.9 Millions
Latest funding date
Location
Project44 has successfully raised significant funding over multiple rounds, establishing itself as a key player in the supply chain visibility sector. The platform offers real-time inventory management and AI-powered automation to optimize supply chain operations.
Keep reading to explore the intricacies of project44's fundraising journey and the investors backing this innovative platform.
What Is project44?
Founded in 2014, project44 is headquartered in Chicago, Illinois. The company was established by Jett McCandless, who envisioned a more connected and efficient supply chain.
project44 offers a comprehensive supply chain visibility platform called Movement, which provides real-time control and AI-driven insights for shippers, carriers, and logistics providers. The platform covers various logistics workflows, including pre-shipment, in-transit visibility, facility management, and eCommerce logistics.
With a growing team, project44 has expanded its workforce to over 1,000 employees, all dedicated to enhancing supply chain efficiency and transparency.
How Much Funding Has project44 Raised?
- Seed Round
- Amount Raised: Not publicly disclosed
- Date: May 2016
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To kickstart the development of the supply chain visibility platform.
- Series A
- Amount Raised: $13.8M
- Date: September 2016
- Lead Investors: Emergence Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand the platform's capabilities and market reach.
- Series B
- Amount Raised: $30.3M
- Date: April 2018
- Lead Investors: OpenView
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and enhance product features.
- Series C
- Amount Raised: $45M
- Date: October 2018
- Lead Investors: Pritzker Group Venture Capital, Sapphire Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further expand market presence and improve technology.
- Series C
- Amount Raised: $51.7M
- Date: July 2020
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support growth and enhance platform capabilities.
- Series D
- Amount Raised: $100M
- Date: December 2020
- Lead Investors: Insight Partners
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To accelerate global expansion and product development.
- Series E
- Amount Raised: $202M
- Date: June 2021
- Lead Investors: Emergence Capital, Goldman Sachs Asset Management
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance AI capabilities and expand market reach.
- Secondary Market
- Amount Raised: Not publicly disclosed
- Date: December 2021
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To provide liquidity to early investors and employees.
- Series F
- Amount Raised: $420.1M
- Date: January 2022
- Lead Investors: Goldman Sachs Asset Management, Thoma Bravo, TPG
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To drive key initiatives and expand global operations.
- Venture Round
- Amount Raised: $80M
- Date: November 2022
- Lead Investors: Generation Investment Management, A.P. Moller Holding
- Valuation at Round: $2.7 billion
- Motivation Behind the Round: To measure and mitigate supply chain emissions globally.
Total Amount Raised: $943.9M. Current Valuation: $2.7 billion.
Key Investors
- Generation Investment Management
- Details: Established in 2004, Generation Investment Management is a sustainable investment management firm headquartered in London with a US presence in San Francisco. The firm focuses on long-term investing, integrated sustainability research, and client alignment.
- Investment Focus Areas: Sustainability, climate accountability, long-term investments.
- Notable Investments: Asana, DocuSign, Toast.
- A.P. Moller Holding
- Details: A.P. Moller Holding is the parent company of the A.P. Moller Group, which includes Maersk. The company invests in businesses with a positive societal impact, leveraging over 100 years of business-building experience.
- Investment Focus Areas: Transportation, logistics, energy.
- Notable Investments: Maersk, other logistics companies.
- Goldman Sachs Asset Management
- Details: Goldman Sachs Asset Management is the asset management arm of Goldman Sachs, providing investment management services across a broad range of asset classes.
- Investment Focus Areas: Technology, finance, logistics.
- Notable Investments: Uber, Spotify, WeWork.
- Emergence Capital
- Details: Emergence Capital is a venture capital firm focused on early and growth-stage enterprise software companies. The firm is known for its investments in companies that drive enterprise cloud adoption.
- Investment Focus Areas: Enterprise software, SaaS.
- Notable Investments: Salesforce, Zoom, Veeva Systems.
- TPG
- Details: TPG is a global alternative asset firm with a diverse portfolio across various sectors. The firm manages a wide range of investment funds, including private equity, real estate, and public equity.
- Investment Focus Areas: Technology, healthcare, consumer.
- Notable Investments: Airbnb, Uber.
What's Next for project44?
With a valuation of $2.7 billion and a recent $80 million funding round, project44 is poised to capitalize on significant opportunities in the supply chain sector. The company aims to enhance its "Movement by project44™" platform, focusing on real-time visibility and emissions measurement, particularly Scope 3 emissions. This aligns with industry trends emphasizing sustainability and compliance with new carbon reporting requirements.
Future fundraising could be on the horizon as project44 continues to expand its global footprint and technological capabilities. However, challenges such as navigating economic uncertainties and maintaining high growth rates remain. The company must also ensure the accuracy and reliability of its platform while managing a diverse, global team.
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