The Intelligent Supply Chain: Our Investment in project44
Chicago established itself as one of the world’s largest transportation hubs in the first half of the 20th century. Unfortunately, the billions of dollars of goods that flow through Chicago’s roads, railways, airports, and waterways are still tracked and managed with technology that was built during the same period. This aging infrastructure can no longer support a global supply chain that requires real-time information to support the shift to transparent, on-demand commerce.
Supply chain communications has been entrenched in electronic data interchange (EDI) technology for several decades. The rigidity of EDI integrations make it difficult for logistics providers to gain access to the data they need to operate in a world that requires real-time and predictive capabilities. APIs enable the shipping industry to access that data without the barriers presented by legacy technology. Project44 has build thousands of APIs that enable millions of data transactions for their customers.
Driven by competition from Amazon, retailers, 3PLs and capacity providers now more than ever need to upgrade their systems in order to provide customers with a delightful experience. However, the industry will be difficult to change from the outside looking in. Deep logistics knowledge and access to customers is critical to create a trusted clearinghouse that enables goods to be shipped for the optimal price and mode of transport, while providing the consumer with choice and access to real-time information about their shipment.
We are excited to announce our Series A investment in project44 and honored to be working with Jett, Wally, Tommy and team. Over the past two years, the team bootstrapped the business and built the largest network of supply chain APIs that are powering the global supply chain for the largest global carriers, 3PLs, retailers, ecommerce vendors, distributors and manufactures. project44 recognized an opportunity to solve core challenges that they faced through experience at prior logistics and carrier leaders such as Coyote Logistics, GlobalTranz, YRC, Con-way, Menlo and CarrierDirect. From inception, project44 solved logistics communications problems at the heart of the market, between Transportation Management Systems (TMS) systems and their end customers. The resulting data network enables e-commerce companies and suppliers to make proactive decisions based on dynamic data across the supply chain.
We were very excited to see project44 being built in Chicago, the team’s background and mission exemplifies many of the qualities that make us so excited about the potential for our ecosystem. The Midwest has a diversity of industry and is home to many of the largest fortune 500 companies. Nearly every one of those companies utilizes a shipping or supply network and could benefit from project44’s solution. We look forward to helping project44 take advantage of the wealth of resources in the Midwest: great local talent, industry expertise, and customers that are available right in our own backyard.