project44, the leading supply chain visibility platform, announced today that it raised an $80M funding round led by Generation Investment Management, the sustainable investment management firm, and A.P. Moller Holding, a privately held investment company, based in Denmark.
CMA CGM, a global player in sea, land, air, and logistics solutions joined the round along with previous investors Goldman Sachs Asset Management (“Goldman Sachs”), TPG, Emergence Capital, Chicago Ventures, Sapphire, 8VC, Sozo Ventures, and Omidyar Technology Ventures.
The round now values project44 at $2.7 billion, up 12% from the valuation of its Series F announced on January 11, 2022. With the company already on a glide path to profitability, the additional funding will drive several key initiatives including measuring and mitigating supply chain emissions globally, across all modes of transportation.
“When uncertainty from supply chain disruptions, inventory costs, and economic policy is at an all-time high, project44 continues to deliver lasting business value to our customers,” said Jett McCandless, Founder & CEO of project44. “This latest round of funding will accelerate our ability to connect all parties across the supply chain ecosystem and deliver the highest quality supply chain and emissions visibility data to our shipper, freight forwarder, and LSP customers. With these data feeds, our customers are able to outperform their competitors by managing inventory better, delivering an exceptional customer experience, and building a more predictable and resilient supply chain. We will continue to deliver incredible value for our customers, no matter what challenges or opportunities 2023 brings.”
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