project44 Named Top-Tier Software Vendor by APPS RUN THE WORLD in the APPS and CLOUD TOP 500 Market Report

project44 Strengths, Domain Expertise, and Key Differentiators

project44 serves as a transportation visibility provider, facilitating the real-time sharing of shipment location information among mutual customers. This ensures that customers have the necessary data for effective planning while enabling drivers to dedicate more time to their journeys on the road.

project44 Recent Developments

In November 2023, project44 collaborated with Celonis, a process mining company, to enhance visibility and streamline processes throughout the supply chain. Leveraging the collective expertise of both companies, users can derive substantial value by making faster, more informed, and data-driven business decisions.

In October 2023, project44 revealed substantial improvements to its platform, Movement, designed to simplify multimodal visibility and empower customers to optimize carrier data quality. These enhancements contribute to delivering increased business value by simplifying some of the most intricate scenarios encountered by shippers and logistics service providers (LSPs) in the current landscape.

Improvements to project44's extensive range of visibility solutions encompass:

- Expanded Visibility: Integrates information from both carriers and forwarders, providing comprehensive visibility throughout the entire shipment journey, from origin to destination. This eradicates expensive blind spots at interchanges, allowing shippers to efficiently oversee inventory in transit, meet order deadlines, and reduce the need for manual intervention. - Enhanced China OTR Visibility: Expanded coverage of both full truckload (FTL) and less-than-truckload (LTL) networks in the world's largest road freight market by volume. This expansion incorporates the market's exclusive compliant solution, facilitating cross-border data transfer. This enhancement ensures that companies engaged in manufacturing or sourcing products in China gain comprehensive visibility, tracking shipments from the factory to the consumer's doorstep. - Shared Visibility: Enables brand owners and Logistics Service Providers (LSPs) to automatically share their project44 visibility insights with customers and partners. This fosters improved collaboration without the need for manual activities such as phone calls and emails.

In March 2022, project44 introduced Port Intel, the inaugural port intelligence solution in the industry, offering real-time data on congestion and container movement across worldwide ports. This platform equips shippers, Logistics Service Providers (LSPs), Freight Forwarders (FFW), and other stakeholders with essential tools to effectively handle and alleviate the challenges posed by current disruptions in ocean logistics and tumultuous supply chains.

project44 Mergers and Acquisitions (M&A) Activities

In April 2022, project44 completed the acquisition of Synfioo, a company specializing in comprehensive visibility and Estimated Time of Arrival (ETA) platform for rail freight data in Europe. This strategic move by project44 also broadened its barge visibility capabilities for inland waterway segments across the continent.

In September 2021, project44 successfully completed the acquisition of Convey, a last-mile technology platform. The integration of these two companies has enabled them to offer comprehensive global supply chain services, delivering real-time visibility and actionable insights throughout the entire supply chain, from raw materials to the final destination. This collaboration empowers brands to enhance direct-to-consumer and eCommerce experiences, enabling them to provide differentiated services for their customers.

In March 2021, project44 expanded its ocean solution through the acquisition of Ocean Insights, a provider of ocean freight intelligence. This strategic move incorporated the most extensive container tracking capabilities available in the market, along with a unique sailing schedule and ocean analytics products, strengthening project44's offerings in the realm of ocean freight.

project44 Customers in ARTW Customer Database

Leveraging a rigorous data-centric research methodology, APPS RUN THE WORLD asks the simple question: Who’s buying project44 applications and why? And we provide the answers – supported by decades of research – to our clients around the world. Our Customer database has over 100 data fields that detail company usage of project44 and other enterprise apps by function, customer size, industry, location, implementation status, partner involvement, Line of Business Key Stakeholders and IT decision makers contact details. List of Verified project44 Advanced Visibility Platform customers.

project44 Key Enterprise and Cloud Applications

project44 Advanced Visibility Platform

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project44 Direct vs Indirect sales

project44 Customers - Breakdown by Geo, Size, Vertical and Product

List of Verified project44 Customers

No. of project44 Customers: 1200

No. of project44 Enterprise Applications Customers: 1200

No. of project44 Cloud Customers: 1200

No. of project44 Cloud Subscribers: 1200

Leading global brands such as Amazon, P&G, Starbucks, Unilever, Nestle, Cargill, Lenovo, and The Bosch Group, numbering over 1,200 enterprise customers, rely on project44. They trust the platform to deliver essential shipment information, fostering increased agility, automation of inefficient manual processes, and ultimately strengthening the resilience of their supply chains.

project44 Market Opportunities, M&A and Geo Expansions

In May 2023, project44 announced the opening of its newest European hub—an expansive office located in Kraków, Poland. With a team of over 400 members spread across Europe, the Kraków office is positioned to bolster the company's swift and continuous international expansion. This move follows a remarkable achievement of over 50% year-over-year growth in total GAAP revenue and the addition of more than 400 new customers in the last fiscal year.

In November 2022, project44 secured an $80 million funding round, with Generation Investment Management and A.P. Moller Holding leading the investment. CMA CGM, participated in the round, alongside previous investors such as Goldman Sachs Asset Management (“Goldman Sachs”), TPG, Emergence Capital, Chicago Ventures, Sapphire, 8VC, Sozo Ventures, and Omidyar Technology Ventures. This funding round has elevated project44's valuation to $2.7 billion, reflecting a 12% increase from its Series F valuation announced on January 11, 2022. Positioned on a trajectory towards profitability, the additional funding will drive essential initiatives, including the measurement and mitigation of supply chain emissions on a global scale across all modes of transportation.

In January 2022, project44 secured a significant investment totaling $420 million. A syndicate led by Thoma Bravo, TPG, and Goldman Sachs Asset Management ("Goldman Sachs"), alongside participation from Emergence Capital, Insight Partners, Chicago Ventures, Generation Investment Management, Sapphire, and Sozo Ventures, acquired equity interests. This transaction resulted in a pre-money valuation of $2.2 billion, and Sixth Street committed to providing additional funding. The purpose of this substantial investment is to support project44's strategic acquisition initiatives and product development endeavors. Coupled with the $202 million equity raise in May 2021, project44 has set a funding record for Logistics Tech enterprise SaaS companies. These investments position project44 to accelerate its mission of aiding leading brands in optimizing the movement of products across supply chains, ultimately delivering enhanced resiliency, sustainability, and value for their customers.

May 2021 marked the closure of a Series E investment round for project44, securing $202 million in funding. This investment, led by funds managed by Goldman Sachs Asset Management (Goldman Sachs) and Emergence Capital, valued the company at $1.2 billion. With a total funding of $442.5 million to date, project44 is committed to enhancing trust and predictability in the supply chain. The proceeds from this financing will expedite the expansion of the company's multimodal carrier network, facilitate significant penetration into Asian markets, boost artificial intelligence (AI) and data science capabilities, accelerate innovation in new products, and strengthen global sales and marketing outreach

During April 2021, project44 extended its real-time shipment tracking services into China, affording clients the same level of transportation visibility available in established markets such as North America and Europe. This expansion represents a strategic allocation of resources by the company to enhance visibility in Asia, aligning with its overarching vision of achieving global end-to-end visibility across all modes of transportation.

project44 Risks and Challenges

In 2023, project44 welcomed four new executives to its leadership team: Tim MacCarrick, serving as Chief Financial Officer, Renee Mauldin as Chief People Officer, AJ Wilhoit as Chief Product Officer, and Rick Turco as Chief Revenue Officer. The impact of these appointments on the company's dynamics, strategic direction, and operational cohesion may present challenges or uncertainties.

project44 Ecosystem, Partners, Resellers and SI

In August 2023, KSAP Technologies, an autonomous provider of Oracle Transportation Management (OTM) solutions and services, joined forces with project44. This collaboration brings specialized industry expertise and knowledge to project44 customers, elevating their software implementations and optimizing interactions with OTM.

In May 2023, project44 partnered with Trans.eu, an integrated tool for transport management encompassing modules catering to shippers, freight forwarders, and carriers. This newly established partnership aims to provide an improved spot transport tracking solution on both the Trans.eu and project44 platforms. This enhancement allows users to compete more effectively and enhance service delivery by leveraging real-time location data.

Moreover, in May of the same year, project44 and Nexxiot, an Asset Intelligence company, disclosed a partnership that opens up fresh avenues of value for mutual customers, providing real-time network insights and IoT-centric conditional and location monitoring. This collaboration empowers joint customers to benefit from improved Estimated Time of Arrivals (ETAs) utilizing carrier milestones, signals, and historical performance, coupled with precise GPS tracking. Furthermore, customers of both project44 and Nexxiot can implement advanced risk management strategies concerning order and inventory health. Lastly, this partnership enables joint customers to explore new use cases for more efficient asset management.

project44 Cloud Infrastructure Insights

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Research Methodology

Data used in research reports are derived from publicly available documents, continuous surveys of applications vendors, customers, resellers, Independent Software Vendors, systems integrators and other verifiable sources.

Vendor shares and market forecast results are based on a combination of existing databases as well as demand side and supply side research conducted throughout the year with validation from vendors, customers, channel partners and documentations such as earnings releases and 10Q and 10K filings, vertical industry studies, regional and country-level statistics from public and private institutions(i.e. colleges, universities, government agencies and trade associations).

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