project44 closes $202 million Series E investment led by Goldman Sachs
project44, the leading supply chain visibility solutions provider, has closed a Series E investment of $202 million led by funds managed by Goldman Sachs Asset Management (Goldman Sachs) and Emergence Capital, valuing the company at $1.2 billion. To date, project44 has raised $442.5 million to improve supply chain trust and predictability. Goldman Sachs has a deep history of supporting the global expansion of growth-stage technology companies and guiding them through multiple stages of growth. This financing will accelerate the company’s expanded multimodal carrier network, make significant inroads into Asian markets, expand artificial intelligence (AI) and data science capabilities, accelerate new product innovation, and bolster sales and marketing reach globally.
“We’re grateful for the confidence Goldman Sachs and our existing investors have placed in our team as we continue to solve some of the most critical supply chain execution challenges across the globe,” said Jett McCandless, CEO and founder of project44. “project44’s solutions help enterprises deal with some of the most complex supply chain challenges facing the world today. Goldman Sachs is not only a top-tier investor. It also has the network and resources to help project44 to deliver on our strategic objective of rapid expansion into China and and Asian markets. This investment will allow us to continue hiring the best talent, accelerate our global expansion and improve our products to deliver even more value to our customers.”
“We are fully aligned with the vision that Jett and his team have set forth to build the clear global leader in supply chain visibility,” said Will Chen, managing director, Goldman Sachs Asset Management. “By continuing to innovate and by further extending its global reach, project44 addresses critical pain points and brings increasing value to its customers and partners, who are among the most sophisticated shippers and logistics service providers in the world.”
The company’s current investors, including Insight Partners, Sapphire, 8VC, Chicago Ventures, and Sozo, have increased their investment in the company after participating in previous fundraising rounds.