PR93983

CHICAGO, Jan. 12, 2022 /PRNewswire=KYODO JBN/ --

- With $100+ million in ARR, 1,000+ team members, 1,000+ customers, 1+ billion

packages tracked annually and the top performer in analyst reports, project44

leads the supply chain visibility market

project44 (

https://c212.net/c/link/?t=0&l=en&o=3406223-1&h=3063818572&u=https%3A%2F%2Fproject44.com%2F&a=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.

Photo - https://mma.prnewswire.com/media/1724203/project44.jpg  

Logo - https://mma.prnewswire.com/media/1686509/project_44_Logo.jpg

"Today, project44 is helping companies solve supply chain challenges ranging

from inflationary pressure and lockdowns to unpredictable weather and

bottlenecks at ports. Our growth over the past year speaks to these

macroeconomic tailwinds and the competitive edge we can provide to our

customers," said Jett McCandless, Founder & CEO of project44. "With ongoing

support from our investors, we can offer even more value to our customers and

solidify our position as the global network that powers the future of the

supply chain."

#1 in Supply Chain Visibility

Throughout 2021, project44 cemented its position as the #1 company in supply

chain visibility with global port-to-door coverage across all modes of

transportation. The company now generates more than $100 million in annual

recurring revenue (ARR), the largest generation 2 logistics tech in the world.

The most influential analysts within the logistics industry also rank project44

ahead of its competitors. Placing first in FreightTech 25 (

https://c212.net/c/link/?t=0&l=en&o=3406223-1&h=1429907296&u=https%3A%2F%2Fwww.project44.com%2Fpress-releases%2Fproject44-named-1-on-2022-freighttech-25-list&a=FreightTech+25

), Gartner Voice of the Customer (

https://c212.net/c/link/?t=0&l=en&o=3406223-1&h=2310166534&u=https%3A%2F%2Fwww.project44.com%2Fpress-releases%2Fproject44-named-a-2021-customers-choice-in-gartner-peer-insights-voice-of-the-customer&a=Voice+of+the+Customer

) and G2 (

https://c212.net/c/link/?t=0&l=en&o=3406223-1&h=1199188976&u=https%3A%2F%2Fwww.project44.com%2Fpress-releases%2Fproject44-named-a-leader-in-g2s-fall-2021-grid-report-for-supply-chain-visibility-software&a=G2

) have all awarded project44 their highest honors. In addition, Chicago Inno

named project44 among the best 100 places to work in the city.

"Supply chain visibility has become increasingly important as shortages, delays

and bottlenecks ramp up.  project44's potential to solve even the most complex

of these issues is unparalleled," said Robert (Tre) Sayle, Partner at Thoma

Bravo. "By continuously evolving to meet customer needs, project44 has

developed a revolutionary platform that adds significant value to the entire

global supply chain."

"project44 has been scaling at an impressive pace, executing decisively on its

vision of a global end-to-end supply chain visibility platform. Supply chain

visibility has become a critical technology to solving large-scale problems in

the world today, and project44 has emerged as the global market leader," said

Malte Janzarik, Partner at TPG based in Europe. "The breadth of data project44

offers and ease of access for shippers, logistics providers and carriers are

unmatched. We believe that project44's next-gen platform and highly valuable

network will continue to drive tremendous growth."

TPG is investing in project44 out of TPG Tech Adjacencies (TTAD), an investment

vehicle focused on flexible capital solutions for the technology industry.

Meeting a Critical Need for Global Businesses

As the supply chain connective tissue, project44 offers the largest carrier

network of any supply chain visibility provider with more than 142,732

multimodal carrier integrations and 2.7 million trucks.  Shippers and logistics

providers depend on project44 to help them navigate today's increasingly

complex supply chains, improving their sustainability, building transportation

resiliency and meeting the evolving demands of their customers.  project44

supports more than 1,000 organizations across industries including leading

brands such as Amazon, Baker Hughes, Coop, CNHI, Danone, Dollar General, FedEx,

General Mills, Goodyear, Kuehne & Nagel, Lenovo, McKesson, Mondelez, Nestle,

The Home Depot and Unilever.

Record-Shattering Growth

project44's momentum speaks to its differentiation and immense lead in the

supply chain visibility space. Following an exceptional Q3 2021, project44 has

landed $12.7 million of newly booked annual recurring revenue (ARR) in Q4. The

company has closed 117 logos over that timeframe, contributing to YoY bookings

increase of 170% and YoY logo growth of 216%.

In addition to new business wins, net retention for 2021 is at 133%, while

annualized gross retention was 96%. project44's ARR has reached over $100

million with a subscription gross margin of 70%, which is up 3% year-over-year.

To build on this success, project44 will be nearly doubling its investment in

product and engineering in 2022 to deliver improved real-time visibility across

more modes of transportation in more regions.

Expanding International Team

project44 continues to expand its international footprint, offering supply

chain visibility in 166 countries. More than 1,000 team members work with

project44 at its 17 global offices. Over the coming year the company plans to

hire hundreds of new talented team members in China, Europe, Latin America,

North America, and Japan.

project44 also hired its first director of diversity, equity, inclusion &

culture executive, Ivana Savic-Grubisich. The company is committed to hiring

team members who reflect the rich diversity of the communities in which it

operates.

Executive Hires

In 2021, project44 added five new executives to the team to manage its growing

footprint. Charlie Ungashick joined as Chief Marketing Officer in February and

Diane Gordon joined as SVP, Global Customer Success in March. In November,

Elliot Rodgers joined as Chief People Officer, Jennifer Coyne was appointed

General Counsel and Andy Grygiel returned as Chief Brand Officer. These

experienced executives bring unique insight to accelerate project44's growth.

Massive Gains Through M&A

Throughout 2021, project44 increased its value to shippers and logistics

providers through acquisitions of leading companies in the market offering

complementary solutions. The September acquisition of Convey has enabled

project44 to extend real-time visibility and exception management to last-mile,

including parcel, courier, white-glove doorstep delivery, and visibility into

item returns.  Ocean Insights (

https://c212.net/c/link/?t=0&l=en&o=3406223-1&h=1296523951&u=https%3A%2F%2Fwww.project44.com%2Fpress-releases%2Fproject44-acquires-ocean-insights&a=Ocean+Insights

), acquired in March, brought much-demanded visibility into cargo at sea.

ClearMetal (

https://c212.net/c/link/?t=0&l=en&o=3406223-1&h=2186749101&u=https%3A%2F%2Fwww.project44.com%2Fpress-releases%2Fproject44-acquires-clearmetal&a=ClearMetal

), acquired in May, established project44 as the leader in artificial

intelligence and machine learning with automation that reduces costs throughout

the supply chain.

What Our Customers Say

"project44 has enabled us to meet our commitment to customers in a year of

unpredictability," said Pat Kenefick, Vice President, Global Distribution and

Logistics at AbbVie. "With awareness of where our goods are located, we can

adapt to interruptions and make proactive decisions to ensure that our

distributors are stocked with inventory. Supply chain visibility is a game

changer for our ability to drive growth and enhance patient experiences in a

challenging economic environment."

"HARIBO is committed to delivering our beloved products on time and at the high

level of quality our brand is known for. This is a core piece of what has

allowed us to become a successful business. We benefit from being a global

company with a decentralized manufacturing structure. A perfectly coordinated

global supply chain is essential for us and that is why we continuously invest

in it. We chose to work with project44, the leader in real-time transportation

visibility," said Stefan Sorce, Head of global logistics and managing director

in the Haribo Logistics Company, at Haribo. "These insights will help us

increase the resiliency of our supply chain and enable faster and smarter

decisions that will get Haribo's products into the hands of our customers."

"The ongoing events of the last two years have placed unprecedented strain on

the supply chains of consumer products manufacturers, and this has only served

to highlight the critical need to mitigate risk and increase supply chain

resilience," said Alessandro Bonanno, Head of Global Logistics and Customer

Service at Beiersdorf AG. "Partnering with project44 will provide Beiersdorf

with improved visibility into our transportation flows and shipments, which

will help us cope better with any future supply chain disruptions and fulfill

consumer demand."

"Our team brought on project44 because of its global visibility into import and

export arrival and departures," said Hiroshi Etani, Managing Executive Officer,

at Yamato Transport Co., Ltd., Japan's largest delivery company, "The broad

network of multimodal transportation tracking brings more predictability to our

business and helps us better communicate with our customers."

About project44

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. Connected to thousands of carriers

worldwide and having comprehensive coverage for all ELD and telematics devices

on the market, project44 supports all transportation modes and shipping types,

including Air, Parcel, Final-Mile, Less-than-Truckload, Volume

Less-than-Truckload, Groupage, Truckload, Rail, Intermodal and Ocean. In 2021,

project44 was named a Leader among Real-Time Transportation Visibility

Providers in Gartner's Magic Quadrant. To learn more, visit www.project44.com.

Contact

project44@nextpr.com

SOURCE  project44