US-based supply chain management software developer FourKites has secured $100m in a series D round featuring mobile semiconductor manufacturer Qualcomm, commercial vehicle manufacturer Volvo Group and barcode printing technology provider Zebra Technologies.
Private equity firm Thomas H Lee Partners led the round, and Qualcomm Ventures and Volvo Group Venture Capital invested on behalf of Qualcomm and Volvo respectively.
FourKites has built a data and machine learning-equipped software platform that helps organisations digitalise their shipping operations.
The company has more than 500 enterprise customers including Dow, Eastman Chemical, Meijer, PetSmart, The Michaels Companies and Walmart Canada. It will use the cash to further develop its products and create additional software tools.
FourKites completed a $50m series C round in early 2019 co-led by VC firm August Capital and Bain Capital Ventures, the VC arm of private equity firm Bain Capital, which was filled out by CEAS Investments and Hyde Park Angels.
August Capital had led a $35m series B round for FourKites the year before, investing alongside Bain Capital Ventures and Hyde Park Venture Partners.
The series B funding followed a $13m series A round in 2016 led by Bain Capital Ventures that also featured Hyde Park Angels, Hyde Park Venture Partners and Otter Consulting.
The company’s earliest funding took place in 2015 when it secured $1.3m in a seed round led by Hyde Park Venture Partners and backed by Bluestein & Associates, Harvard Business School Angels, Hyde Park Angels and Otter Consulting.
