On December 21, 2020, logistics technology provider project44 announced that it had raised $100 million in a Series D funding round that will help to expand the reach of its supply-chain visibility software. The funding round was led by existing investor Insight Partners, with backing from 8VC, Emergence Capital Partners, Omidyar Technology Ventures, Sapphire Ventures LLC, Sozo Ventures, and Underscore VC. Wilson Sonsini Goodrich & Rosati represented project44 in the transaction.

The investment is the latest in a growing surge of financial support going to digitally focused logistics providers and software start-ups that are looking to bring new technology tools that help companies run supply chains more efficiently. project44’s technology provides visibility that allows companies to see how their shipments are moving through distribution networks and to help make adjustments in case of snags or changes in market demands. The company’s platform uses application program interface technology, or APIs, and other connections to collect information from numerous freight transportation and logistics providers and put it into a standard format that retailers, manufacturers, and other shippers can use. 

The new funding will go toward continued global expansion of project44’s leading, multimodal carrier network, as well as new product innovations, partnerships, and integrations both up and downstream within the supply chain. project44 currently provides real-time transportation visibility with over 400 enterprise customers, including the top three Fortune 100 companies, two of the three largest retailers in the world, and eight of the world’s top 10 freight brokerages.

The Wilson Sonsini team that represented project44 in the transaction includes Michael Coke, Mark Cornillez-Ty, and Travis Scheft.

For more information, please see project44’s press release. The Wall Street Journal also reported on the transaction.