Overhaul, a pioneering force in the realm of in-transit supply chain risk management, has secured $105 million in Series C equity funding. This significant investment round is spearheaded by Springcoast Partners, with additional support from Edison Partners. Alongside this equity funding, the company has also finalized a new debt facility with MidCap Financial.
As global supply chains become increasingly complex and prone to frequent disruptions, the need for proactive risk management solutions has never been more critical. Overhaul is uniquely positioned to meet this demand with its robust, all-encompassing platform, which seamlessly integrates real-time monitoring, advanced predictive intelligence, and swift response capabilities. This approach effectively safeguards high-value cargo from the perils of theft, damage, and delays. The company intends to utilize this significant investment not only to accelerate advancements in its platform but also to enhance its artificial intelligence-driven capabilities, thereby creating comprehensive solutions specifically designed for the world’s most renowned brands. Additionally, Overhaul is poised to pursue strategic acquisitions that will bolster its market position.
This latest round of funding also strategically equips Overhaul to capitalize on consolidation opportunities within the dynamic supply chain technology sector. The company anticipates further market shifts as businesses increasingly emphasize profitability and foundational growth. Its recent acquisition of FreightVerify is a prime example of this consolidation strategy at work, as it introduces item-level tracking and inventory intelligence to enhance the platform’s capabilities.
Overhaul is trusted by a wide range of Fortune 100 companies across diverse industries, including pharmaceuticals, healthcare, technology, logistics, automotive, consumer goods, and food and beverage. The company fosters strong, direct partnerships with law enforcement agencies, ensuring swift recovery and intervention in cases of theft.
At any given moment, Overhaul is responsible for safeguarding $1.4 trillion in cargo trade, boasting an impressive 99.9% shipment protection rate. This level of reliability underscores Overhaul’s commitment to excellence and its vital role in enhancing supply chain security for its partners.
KEY QUOTES:
“Expanding our relationships with Springcoast and Edison allows us to build on the momentum we’ve already created and deliver the solutions our customers are asking for. The truth is, visibility is a data stream – not a standalone solution or app – and how we harness that stream is what truly sets us apart. Our engineering and development efforts are focused on solving real-world problems, and this investment helps us accelerate that mission.”
Barry Conlon, CEO of Overhaul
“Overhaul is building the system of record for global, high-value supply chains. The company’s proprietary data assets, operational depth, and commitment to solving real-world logistics challenges set it apart in a consolidating market.”
Holger Staude, Managing Partner of Springcoast Partners
“We’re proud to deepen our partnership with Barry and the Overhaul team as they complement their market-leading cargo security capabilities with powerful new inventory optimization tools.”
Chris Dederick, Principal at Springcoast Partners
“Edison Partners are excited to continue to support Overhaul in its mission to deliver high impact solutions to real supply chain problems for the world’s biggest brands. It’s a winning strategy with huge potential and this latest acquisition accelerates the vision we saw and backed in 2020.”
Ryan Ziegler, Managing Partner at Edison Partners
