- ClearMetal, a leader in Continuous Delivery Experience (CDX) for Supply Chain and Logistics solutions, announced it raised $15 million in funding led by Eclipse Ventures
ClearMetal — a leader in Continuous Delivery Experience (CDX) for Supply Chain and Logistics solutions — announced recently that it raised $15 million in funding led by Eclipse Ventures. Including this round of funding, ClearMetal has raised more than $31 million. Prelude Ventures, Innovation Endeavors, NEA, SAP.io, Prologis, PSA Unboxed, DCLI, and the founders of GT Nexus, Navis, and Uber Freight also joined the round.
This round of funding enables the further development of ClearMetal’s CDX Platform, which continually learns, adjusts, and gets smarter to drive constant improvement in delivery and experience for customers.
“With this infusion of capital and the additions to our leadership team, we are primed to help level the logistics playing field with CDX in 2020. The world needs a CDX platform now more than ever. The global supply chain is suffering from billions of dollars of inefficiency as a result of not having the intelligence needed to handle the scope and complexity of today’s data,” said Adam Compain, CEO at ClearMetal. “As pioneers in CDX technology we are situated clearly on the industry’s leader board and look forward to continuing to help some of the world’s top companies drive greater profitability in the supply chain.”
Last year, ClearMetal hit some major milestones. For example, the company saw 400% revenue growth year-over-year and the addition of numerous Global 1000 industrial clients and consumer product firms. And the company also doubled the size of its workforce during that same time period, drawing employees from such known brands as GT Nexus, Transvoyant, E2Open, Llamasoft, INTTRA, Elementum, and Tradeshift. Plus ClearMetal also opened expanded company headquarters in San Francisco, hosting an entire floor in the city’s Financial District. And the company also added offices in New York, Chicago, Houston, London, and Switzerland. Today ClearMetal has customers located on four continents.
“ClearMetal is leading the development of a truly intelligent supply chain solution in global freight transportation,” said Lior Susan, Founding Partner of Eclipse Ventures. “The only way to solve an evolving supply chain is with a continuous methodology, and ClearMetal is the leading company at enabling the world’s largest retailers and manufacturers with differentiated product delivery and customer experience.”
In order to continue to accelerate the company’s rapid growth and engage with top-tier clients, ClearMetal recently also added Craig Lewis, SVP of Global Sales & Marketing to lead the go-to-market team. And additional recent leadership hires include Steve LaPedis as VP of Marketing, Sherrie Orzechowski as VP of Strategic Alliances, and Thomas Kofler as VP of Sales EMEA.
Most supply chain software uses a static visibility approach to solve a continuously evolving supply chain. And this results in hundreds of millions of dollars in losses due to reduced revenue, increased costs, and inefficient cash flow.
Customer expectations of both delivery and experience have never been higher. And the emerging category of CDX focuses on enabling companies to deliver their products on time and continuously improve upon their existing delivery processes as well as giving customers an “Amazon-like” digital experience in the global freight transportation space.
The ClearMetal CDX Platform uses proprietary machine learning with multiple patents pending to cross-reference inputs and enrich supply chain data. And this draws out hidden patterns, enabling users to make smart business decisions based on up-to-date, trustworthy information.
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