US-based supply chain tracking software developer ClearMetal has collected $15m from investors including enterprise software producer SAP, industrial real estate operator Prologis, port operator PSA and vehicle chassis supplier Direct ChassisLink.
The round was led by Eclipse Ventures and included Prelude Ventures, Innovation Endeavors, New Enterprise Associates (NEA) and assorted angel investors. SAP and PSA invested through corporate venturing units SAP.io and PSA Unboxed.
ClearMetal’s software platform, ClearMetal CDX, provides goods distributors with real-time status updates on their deliveries.
The machine learning-driven platform is designed to be more responsive than existing supply chain trackers, and the funding will support its further development. The company said it has now raised a total of $31m.
ClearMetal received $3m in seed funding from Skyview Capital, NEA and Innovation Endeavors in 2016. The latter two co-led its $9m series A round in 2017, investing with SAP.io, PSA Unboxed, Direct ChassisLink, NEA and John Urban.