Logistics tech provider project44 hits US$48 million in funding

Logistics software provider project44 raised an additional US$35 million in funding to bring its total funding to $48 million. The company will use the funds to expand into ocean shipping and international markets.

The goal of project44 is “to power true supply chain visibility, and in turn deliver a faster and more reliable global shipping experience,” according to a company statement. Last year, FedEx began using the company’s application programming interfaces (API) software to connect its less-than-truckload (LTL) division to shippers and third-party logistics providers.

The company’s multimodal North American offerings cover rail and parcel shipments, as well as full truckload, LTL and volume LTL shipments. Customers include GE Transportation, Echo Global Logistics, Worldwide Express, GlobalTranz and others.

“With project44, we take a step closer to providing a more visible and reliable port-to-door ecosystem,” said Jennifer Schopfer, vice president and general manager of GE Transportation Transport Logistics. The software offerings allow GE Transportation to “connect transportation data from railroad networks, yards, intermodal terminals, and maritime ports into a single transportation management workflow.”