Supply Chain Software Startup Overhaul Raises $73M in Late-Stage Funding
Overhaul, an Austin-based Irish-founded startup that makes supply chain and risk management software, has secured $73 million in late-stage funding.
The capital comprises $38 million in equity from lead investor Edison Partners with participation from eGateway Capital, StepStone Group and TRM Ventures, and $35 million in non-dilutive debt from Stifel Bank. Previous investors Abbey International Finance, Avanta Ventures and Macquarie Capital also participated in the funding.
Overhaul will use the new capital to expand globally, enhance products and fund the recent acquisition of security services provider SensiGuard from Sensitech, a Boston-based global solutions provider for supply chain risks, as well as temperature-control monitoring of shipments.
The SensiGuard acquisition added more than 350 of the company’s employees to its operation. The deal also meant Overhaul was able to expand its footprint into more countries.
“This latest growth financing positions Overhaul to be a front runner as a profitable business in real-time visibility and risk management with a fraction of capital but at a similar scale to unicorns in the space,” said Barry Conlon, CEO and Founder of Overhaul.
Clients including Microsoft and Bristol Myers Squib are given a real-time view of their supply chain so they can manage risk more effectively and reduce losses while improving overall performance.
Overhaul is expected to track more than $1 trillion in total moving cargo this year.