We have some exciting news to share from Fund I: FourKites has closed $50M in Series C funding. For detailed coverage, please see today’s articles in The Wall Street Journal and in Crain’s Chicago Business.
FourKites, a predictive freight-tracking platform, has secured another $50 Million in a new round led by return investors Bain Capital Ventures, August Capital and CEAS Investments. The funding brings FourKites’ total capital raised to more than $100 million.
Based in Chicago, FourKites is the leading supply chain visibility software platform and will use this round of funding for network expansion, industry collaboration, and to create new applications and capabilities. FourKites currently tracks shipments in 55 countries worldwide, helping top shippers and carriers collaborate based on real-time data across North America, South America, Europe and Africa.
Since launching five years ago, FourKites has pioneered the industry shift to real-time visibility, enabling shippers to improve on-time delivery and optimize their supply chain based on actionable data and predictive intelligence. FourKites’ network now includes more than 200 of the world’s top shippers, including AB InBev, Conagra Brands, Kraft Heinz, Nestlé, Perdue Foods, Smithfield Foods, Unilever, Walmart Canada and many others.
HPVP led FourKites’ seed and post-seed rounds and has remained a significant investor since. We are awed by the company’s momentum and congratulate the whole FourKites team for their continued success and emergence as one of the Midwest’s technology leaders.
All the best,
Ira, Tim, Guy, Greg, Jackie & team