Total amount raised
$942.9 Million
Latest funding date
11/1/2022
Location
project44 has successfully raised funding over nine rounds, with the latest being a Venture - Series Unknown. The company is backed by 27 investors, including notable names like Chicago Ventures and 8VC.
Keep reading to explore the intricacies of project44's fundraising journey and the investors backing this innovative platform.
What Is project44?
project44 is a private company based in Chicago, Illinois, specializing in supply chain and logistics technology. The company operates the Movement platform, which provides real-time visibility and actionable insights for supply chain management.
Founded to serve as the connective tissue of the supply chain, project44 has grown to employ between 501 and 1000 people. The company is involved in industries such as Enterprise Software, Freight Service, SaaS, and Supply Chain Management.
How Much Funding Has project44 Raised?
- Series A
- Amount Raised: USD 13,800,000
- Date: September 2016
- Lead Investors: Chicago Ventures, Emergence Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and enhance product development.
- Series B
- Amount Raised: USD 30,300,000
- Date: April 2018
- Lead Investors: OpenView
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand market reach and support strategic growth initiatives.
- Series C (October 2018)
- Amount Raised: USD 45,000,000
- Date: October 2018
- Lead Investors: Pritzker Group Venture Capital, Sapphire Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance product offerings and expand into new markets.
- Series C (July 2020)
- Amount Raised: USD 51,700,000
- Date: July 2020
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support rapid growth and technological advancements.
- Series D
- Amount Raised: USD 100,000,000
- Date: December 2020
- Lead Investors: Insight Partners
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and enhance global reach.
- Series E
- Amount Raised: USD 202,000,000
- Date: June 2021
- Lead Investors: Emergence Capital, Goldman Sachs Asset Management
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To accelerate growth and expand product capabilities.
- Secondary Market
- Amount Raised: Not publicly disclosed
- Date: December 2021
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To provide liquidity to early investors and employees.
- Series F
- Amount Raised: USD 420,000,000
- Date: January 2022
- Lead Investors: Goldman Sachs Asset Management, Thoma Bravo, TPG
- Valuation at Round: USD 2.41 billion
- Motivation Behind the Round: To support the company's growth, innovation, and expansion efforts.
- Series Unknown
- Amount Raised: USD 80,000,000
- Date: November 2022
- Lead Investors: A.P. Moller Holding, Generation Investment Management
- Valuation at Round: USD 2.7 billion
- Motivation Behind the Round: To accelerate project44's vision for supply chain and emissions visibility.
Total Amount Raised: USD 940,800,000. Current Valuation: USD 2.7 billion.
Key Investors
- Generation Investment Management
- Details: Generation Investment Management is a sustainable investment management firm. They focus on long-term investing and integrated sustainability research.
- Investment Focus Areas: Sustainable investments, climate change, environmental sustainability.
- Notable Investments: Tesla, Nest, Asana.
- A.P. Moller Holding
- Details: A.P. Moller Holding is a privately held investment company based in Denmark. They leverage global networks and operational expertise to invest in key megatrends.
- Investment Focus Areas: Industrial and transportation sectors, shipping, logistics.
- Notable Investments: Maersk, Maersk Drilling, Maersk Tankers.
- Goldman Sachs Asset Management
- Details: Goldman Sachs Asset Management is the investment management division of Goldman Sachs. They offer a broad range of investment strategies.
- Investment Focus Areas: Technology, healthcare, financial services.
- Notable Investments: Uber, Spotify, WeWork.
- TPG
- Details: TPG is a global alternative asset firm. They focus on private equity, growth capital, real estate, and public equity.
- Investment Focus Areas: Private equity, growth capital, real estate, public equity.
- Notable Investments: Airbnb, Uber, Spotify.
- Emergence Capital
- Details: Emergence Capital is a venture capital firm. They specialize in early and growth-stage enterprise software companies.
- Investment Focus Areas: Enterprise cloud companies.
- Notable Investments: Salesforce, Zoom, Veeva Systems.
What's Next for project44?
project44 stands at the cusp of significant opportunities, particularly in measuring and mitigating supply chain emissions globally. With a network tracking over 1 billion shipments annually and serving more than 1,200 brands, the potential for growth is immense. The company’s focus on Scope 3 emissions, which account for 60% of global emissions, positions it to meet new carbon reporting requirements and drive sustainability in supply chains.
Future fundraising opportunities appear promising as project44 continues its path to profitability and robust growth. The recent $80 million funding round, which valued the company at $2.7 billion, underscores investor confidence. This financial backing could pave the way for further technological advancements and geographic expansion, enhancing the platform’s capabilities and market reach.
However, project44 may face challenges such as navigating the complexities of global supply chains and meeting evolving carbon reporting requirements. Competition in the supply chain visibility sector and ensuring data accuracy and reliability are additional hurdles. Despite these challenges, project44’s strong market position and innovative solutions suggest a bright future ahead.
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