Chicago logistics startup FourKites just hauled in $100 million in new funding.
FourKites, a maker of real-time supply chain software, announced Wednesday it raised $100 million in Series D funding, bringing its total amount of capital raised to more than $200 million. It last raised a $50 million Series C round in 2019.
The latest round was led by private equity firm Thomas H. Lee Partners, and included backing from Zebra Technologies, Volvo Group Venture Capital, Qualcomm Ventures, August Capital, CEAS Investments, Hyde Park Angels, Hyde Park Venture Partners and Bain Capital.
FourKites, founded in 2014, makes software that helps companies predict when shipments will arrive at scheduled stops. It can also monitor load temperatures and analyze a company’s supply chain data, helping businesses improve on-time delivery and minimize product loss.
More than 500 brands use FourKites' technology, including Walmart Canada, Coca-Cola, AB InBev, Meijer and PetSmart. FourKites says its software is tracking more than 1 million shipments a day.
FourKites said it will use the new funding to continue building its software platform and launch new products.
The funding comes shortly after project44, another Chicago logistics tech startup, raised a $100 million round of its own. Project44, whose software helps shippers and logistics firms track their shipments and communicate with the supply chain in real time, has raised more than $240 million since its founding in 2014.
