Jett McCandless, founder and CEO of project44. | Photo: Project44

Although supply chains are no longer as volatile as they were during the pandemic, logistics services are still in high demand, especially as the holidays approach. Everything from food to toys has to make it to the stores one way or another another one. With project44, a Chicago-based logistics company, tracking shipments and ensuring they arrive on time just got a whole lot easier with its supply chain visibility solutions. Recently, the company secured new funding to continue its growth trajectory.

On Thursday, project44 announced that it had secured $80 million in funding at a valuation of $2.7 billion. This is a roughly 12% increase from the $2.2 billion valuation the company reached after raise funds in january.

Project44 provides supply chain visibility solutions to companies that need to move large amounts of freight. Currently, the company tracks over one billion freight loads per year to help customers ensure they are delivered accurately and on time. Founded in 2014, project44 works with brands in the automotive, retail, food, beverage and oil industries, among others.

With the new funding, project44 plans to develop a new supply chain platform that will track the carbon emissions of goods transported by its customers. By letting customers know their carbon footprint, shippers will be able to optimize their supply chain networks and operate more efficiently.

“As uncertainty related to supply chain disruptions, inventory costs and economic policy reach an all-time high, project44 continues to deliver lasting business value to our customers,” said Jett McCandless, Founder and CEO of project44, in a statement. “This latest round of funding will accelerate our ability to connect all parts of the supply chain ecosystem and provide the highest quality supply chain and emissions visibility data to our shippers, freight forwarders and LSP customers.”

The latest funding round was co-led by Generation Investment Management and AP Miller Holding. To date, project44 has raised $897.5 millionaccording to Crunchbase.

“In project44, we see a compelling opportunity to bring rigorous measurement and climate responsibility to logistics. Many of the world’s largest shippers have pledged to reduce their emissions in accordance with the Paris Agreement. Soon they will have the technology to back their words with actions,” said Joy Tuffield, growth capital partner at Generation Investment Management, in a statement.

Project44 currently has several vacancies listed on Built Inranging from a Solutions Architect and Senior Software Engineer to an Account Manager and Senior Revenue Accountant.

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