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Project44 raises USD 240 million in equity funding
Truck Industry Tech
Jan 11
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Truck Industry Tech

Truck Industry Tech

Jan 11

Project44 raises USD 240 million in equity funding

Funding

  • project44, a supply chain visibility solutions provider, has raised USD 240 million in equity funding led by TPG, Thoma Bravo, and Goldman Sachs’ asset-management arm, with participation from Emergence Capital, Insight Partners, and Chicago Ventures, among others. The investors have also acquired USD 180 million worth of shares from its existing investors, bringing the total investment to USD 420 million.

  • The round values the company at USD 2.4 billion (double its valuation from July 2021), and brings its total funds raised to USD 637.5 million.

  • The company intends to utilize the funds to expand its network, acquire new companies, and expand its product and engineering teams in Japan, Brazil, and China.

  • Reportedly, project44 has achieved USD 100 million in annual recurring revenue (ARR) in 2021 and expects to earn USD 170 million in revenue by the end of 2022. The company is also considering going public via a traditional initial public offering (IPO) in the future—however, the timeline of this is not specified.

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