Fleet Management

FourKites Receives $13 Million To Expand and Improve Platform

October 13, 2016

SHARING TOOLS        | Print Subscribe
Photo: FourKites
Photo: FourKites

Transportation industry software provider FourKites announced that it has raised $13 million in Series A funding led by Bain Capital Ventures, bringing total funding for the two-year-old company to $16.5 million.

FourKites uses mobile, cloud and analytics software to provide load tracking in real-time across more than 2.5 million trucks. The platform is designed to help improve supply chain efficiency for shippers. It uses FourKites proprietary technology and its network of more than 45 partnerships with GPS-enabled electronic logging device providers.

The new funding will be used to integrate more data sources into its tracking platform, expand internationally and cover additional transportation applications such as LTL, rail, intermodal and maritime. Additionally, FourKites is also building new applications that make use of the data its platform collects to drive supply chain operations efficiency.

“Supply chain efficiency has become paramount for every kind of business, and we’re excited to help Matt and FourKites realize their ambitious yet achievable vision,” said Ajay Agarwal, managing director of Bain Capital Ventures. “FourKites has marquee customers achieving impressive results, boosting on-time performance from the low 90% range to 97-98%, which translates into less wait time at warehouses, lower stock-outs, faster inventory turns.”

Comment On This Story

Name:  
Email:  
Comment: (Maximum 2000 characters)  
Leave this field empty:
* Please note that every comment is moderated.

Newsletter

We offer e-newsletters that deliver targeted news and information for the entire fleet industry.

GotQuestions?

ELDs and Telematics

sponsored by
sponsor logo

Scott Sutarik from Geotab will answer your questions and challenges

View All

Sleeper Cab Power

Steve Carlson from Xantrex will answer your questions and challenges

View All