Cleveland, OH – MacroPoint, creator of a multi-modal freight tracking network that provides shippers, logistics service providers and carriers real-time visibility into load status, received a $44 million investment from Susquehanna Growth Equity, LLC (SGE). The company plans to accelerate investment in product and network expansion, both in the US and internationally.
MacroPoint owns the largest visibility network in the industry, encompassing of over 800,000 drivers and over 3,000 paying customers (including JB Hunt, UPS and FedEx), tracking over 2 million loads per year. MacroPoint’s patented technology includes easy-to-use and field-tested integrations with all major TMS and ELD packages. Beyond visibility, the software offers control tower functionality and analytics, exception reporting, automated arrival/departure alerts and HOS-related features.
In conjunction with the financing, MacroPoint is adding supply chain and technology experts to its board of directors, beginning with Dan Dershem, founder and former CEO of LeanLogistics, and Ronald Kasner, CFO of iCIMS, a leading provider of talent management software with over $100m in annual recurring revenue.
“MacroPoint was founded to help shippers and logistics service providers eliminate the many blind spots in their supply chains,” said Bennett Adelson, CEO of MacroPoint. “While we’re incredibly proud of how far we’ve come, we’ve only scratched the surface. Having SGE’s experience in rapidly scaling businesses will help us realize our vision of providing global, multi-modal supply chain visibility. Our team is committed to our customers and to making MacroPoint the most robust visibility solution in the freight transportation marketplace.”
“As experienced supply chain technology investors, we were very impressed by MacroPoint’s emergence as the industry standard for freight tracking and visibility. They are way ahead of the competition.” said Ben Weinberg of SGE, “As shippers increasingly demand visibility solutions, MacroPoint’s network and intellectual property portfolio are ideally positioned to serve it.”
About MacroPoint
MacroPoint’s patented, automated load monitoring and tracking software provides real-time load location visibility by using any in-cab ELD/GPS device, cell phone, or trailer and container tracking system. The cloud-based solution enables location monitoring and tracking, delivery monitoring and event notifications, and exception management and predictive analytics capabilities. The SaaS platform is also integrated with a growing number of TMS systems, automating the entire process and eliminating the need for drivers to check in with dispatchers, and for shippers and logistics service providers to check in with carriers. To date, over 800,000 drivers and millions of connected trucks are a part of the “MacroPoint enabled” network. To learn more about MacroPoint, call 866-960-0328 or visit www.macropoint.com.
About Susquehanna Growth Equity, LLC
Susquehanna Growth Equity, LLC (SGE) invests in growth stage technology companies in the software, information services, Internet and financial technology sectors. The firm is backed by a unique and patient capital base that allows management teams the freedom and flexibility to maximize growth. Notable prior investments include Credit Karma (financial management platform with 60 million members), iCIMS (leading SaaS talent management solution) and Payoneer (payment platform enabling cross-border commerce). To learn more, please visit us at www.sgep.com.
Credits
Gregg Eisenberg of Benesch Law and David Dolan of Signal Hill advised MacroPoint during the funding process.