Overhaul Secures $55M in Funding to Combat Supply Chain Blockers

Supply chain-dependent businesses are facing numerous challenges, including staff shortages and rising customer expectations. A survey from Prologis indicates that two-thirds of executives are losing sleep over supply chain-related issues. Barry Conlon and David Broe, founders of FreightWatch, identified supply chain problems and founded Overhaul after selling FreightWatch in 2012.

Overhaul is a platform that helps companies track the location, quality, and compliance of goods in the supply chain while also addressing theft. Cargo theft is increasing, with CargoNet reporting a 14% year-over-year rise in Q3 2024.

 Overhaul, with approximately 350 customers, provides software to anticipate shipping delays using AI models trained on in-transit telemetry data. The company faces competition from Tive, Altana, Project44, and FourKites in the supply chain visibility market, which is estimated to be worth $12.6 billion by 2032.

Overhaul recently raised $55 million in a funding round led by Springcoast Partners, bringing its total raised to around $150 million. The funding will be utilized for product development, strategic acquisitions, and team expansion.

Find more information about the funding here.