CHICAGO, IL, project44, the leading supply chain visibility platform, announced today that it received an investment totaling $420 million.
A syndicate led by Thoma Bravo, TPG and Goldman Sachs Asset Management ("Goldman Sachs") with participation from Emergence Capital, Insight Partners, Chicago Ventures, Generation Investment Management, Sapphire and Sozo Ventures acquired equity interests resulting in a pre-money valuation of $2.2 billion, and Sixth Street committed to make available additional funding, in support of the company's strategic acquisition program and product development activities. When combined with its $202 million equity raise in May of 2021, project44 has set a funding record for Logistics Tech enterprise SaaS companies. These investments position project44 to accelerate its mission to help leading brands optimize the movement of products across supply chains, delivering better resiliency, sustainability and value for their customers.
project44 is the world's leading advanced visibility platform for shippers and logistics service providers as defined by number of happy customers, number of carriers, number of customers, ARR, net retention, shipments per day, growth rate and gross margin. project44 connects, automates and provides visibility into key transportation processes to accelerate insights and shorten the time it takes to turn those insights into actions. Leveraging the power of the project44 cloud-based platform, organizations increase operational efficiencies, reduce costs, improve shipping performance and deliver an exceptional experience to their customers.
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