project44 secures $10.5 million in series A Funding

A Software-as-a-Service platform that offers application programming interfaces enabling third-party logistics to connect with carriers, project44 has raised $10.5 million in Series A funding round. The round was led by Silicon Valley-based Emergence Capital, an enterprise-focused venture firm specializing in B2B cloud applications with a portfolio of high-growth companies including Salesforce, Veeva Systems and Box. The local funding came from Chicago Ventures, the co-led financing was provided by Silicon Valley Bank. The company aims to use this funding to expand its focus into new transportation modes initially Truckload, Final Mile and Intermodal and address additional data intelligence and analytics opportunities for the global supply chain. Jett McCandless, project44 CEO and Co-Founder said, “By eliminating the supply chain’s reliance on poor performing, pre-Internet legacy communication systems like Electronic Document Interchange (EDI) or static rate tables, and transitioning the industry to web service APIs, we are empowering big box retailers, ecommerce businesses and their logistics providers to deliver goods in the shortest timeframe possible with the highest level of transparency and operational efficiency.” “Thanks to our partners at Emergence Capital, Chicago Ventures and Silicon Valley Bank, we will be able to fulfill our mission at an even larger scale accelerating our ability to expand the API platform,” added McCandless. project44’s product offerings ranges from Supply Chain APIs, Less-than-Truckload (LTT) APIs, Truckload APIs, Intermodel APIs, Air Freight APIs, Ocean Freight APIs, Drayage APIs and Channel Partner Ecosystem. The Chicago-based claims that create a major technology shift it has introduced an end-to-end network of intelligent web service API connectivity. Earlier this year, project44 formed an alliance with MacroPoint, creator of patented freight tracking software to enable MacroPoint’s accurate location-specific freight tracking capabilities on project44’s web-service network for less–than-truckload (LTL) shipments. Moreover it also partnered with ADSI, a provider of shipping software to deliver strategic and tactical value to shippers, enabling them to update and adapt their carrier portfolios to ensure accurate, real-time freight cost calculation and reduce backcharges from carriers.