project44, the supply chain visibility platform, announced strong financial and operational results for its 2023 fiscal year, which concluded on January 31, 2023. The many highlights included the launch of project44’s new Movement by project44 supply chain visibility platform and securing €72.5 m in funding valuing the company at €2.4bn.
“This last year is a testament to the innovation project44’s supply chain visibility capabilities provide to customers, giving them insights to optimize their operations, and inventory and mitigate business disruptions. We continue to scale and increase the value of movement for our customers and partners, further enabling their supply chain digital transformation by augmenting our SaaS offerings with new managed services to accelerate time to value,” said Jett McCandless, Founder and CEO of project44.
In addition to launching Movement by project44, the integrated supply chain visibility platform, project44 reached important milestones in FY 2023 such as – adding 411 new customers, earning a win rate of 87%, and tracking €0.9 tn in customer inventory across 181 countries enabling customers to gain a competitive advantage, raised €72.5 m of new funding, received a valuation of €2.4bn in the last funding round, expanded network to 238,000+ active carriers that agreed to project44 terms and conditions, acquired the leading rail visibility company in Europe, Synfioo, providing visibility into over 99% of European rail volume, including wagon-level tracking for 90% of rail cars, launched Port Intel, a port intelligence solution enabling customers to avoid port congestion, released Yard Solutions, a dock, yard and asset management solution suite, launched new value-added services offerings, introduced Ocean Flex, a self-service ocean visibility solution that enables small-volume ocean shippers and LSPs to gain visibility in a flexible, pay-as-you go model, launched Ocean Emissions Visibility, enhanced Last Mile solutions including eCommerce Predictive Delivery Dates, expanded international operations with new offices in Australia, Brazil, France, Japan, and Poland to support a growing global customer base.
The new customers project44 added in FY 2023 represented brands across multiple industries, including sportswear retailer Foot Locker, technology company Google, CPG brand Kellogg’s, and footwear brand New Balance. project44 serves industry leaders across sectors, including Amazon, chemical distributor Brenntag and ocean carrier Maersk.
Source: project44
