SUPPLY CHAIN

Blume Global Announces New Investment by Bridgepoint

Blume Global | September 16, 2021

Blume Global Announces New Investment by Bridgepoint
Blume Global, a leading provider of supply chain execution and visibility technology, today announced it has raised new equity from London-based Bridgepoint Group. This investment will further the company's effort to bring its truly innovative and transformational supply chain digitization to the industry. This latest funding values Blume Global at $500 million, and Bridgepoint joins funds managed by affiliates of Apollo Global Management and EQT as equity investors in the company.

Launched in 2018, Blume Global provides a cloud-first, intelligent operating platform that orchestrates global supply chain processes through a digital map of the supply chain world for thousands of customers. By digitizing and transforming supply chains around the world, enabling shippers (buyers and suppliers), logistics service providers and carriers to work together on a common data driven platform to reduce waste and inefficiencies through visibility, automation and optimization.

In 2021, Blume Global has continued its high-growth trajectory, with more than 100% annual bookings growth YTD. The company has added more than 100 employees since January in the United States, Hong Kong, Europe and India. With this new equity capital, the company expects to make additional investments in R&D and go-to-market functions, positioning Blume to continue creating a truly transformative and sustainable platform for global supply chains.

"When we launched Blume Global in 2018, we saw an opportunity to build a cloud-based digital operating platform for global supply chains that leverages modern technologies and machine learning to optimize and automate operations," said Pervinder Johar, CEO, Blume Global. "Since then, we have only seen increased demand for a supply chain transparency and orchestration platform like ours. We are thrilled by this new investment from Bridgepoint Group to help fund our continued growth."

Rohit Dhote, Managing Director at Bridgepoint Credit, commented: "Solving supply chain complexity and providing visibility into the movement of goods has never been more business critical. Blume Global is at the forefront of enabling multi-modal supply chains through its leading, cloud-based order management, TMS and real-time visibility solutions. We're excited to partner with Blume Global, its management team, Apollo and EQT to support the company through its next stage of growth." 

Blume Global's mission to reduce $1 trillion of waste from global supply chains, lower carbon emissions and democratize technology for millions of small to medium businesses that make global supply chains work is resonating in the industry. There are more than 10,000 companies on Blume Global's platform, including some of the largest shippers, ocean carriers, railroads and global freight forwarders.

Justin Korval, Partner at Apollo, said, "Blume Global provides companies with business-critical supply chain and logistics solutions playing an important role in creating a more sustainable global supply chain. We're pleased to support Pervinder and the Blume Global team as they continue to scale the business and welcome additional blue-chip investors like Bridgepoint."

In the transaction, J.P. Morgan Securities LLC served as the sole placement agent and Cooley LLP as legal counsel to Blume Global. Sidley Austin LLP was legal counsel to Bridgepoint, and Paul, Weiss, Rifkind, Wharton & Garrison LLP was legal counsel to the Apollo Funds.

About Blume Global 
The supply chain technology provider Blume Global aims to remove $1 trillion of waste from the global supply chain, making logistics processes more agile, dependable and sustainable with innovative logistics execution and visibility solutions. Blume's digital platform goes beyond the transportation management status quo, empowering users to quickly predict the impact of disruptions and react in real time before minor issues become major problems. With one of the most extensive networks among logistics technology providers, Blume Global's direct connectivity to the ocean, air, rail, parcel, LTL and truckload carriers combines with Blume Global's solutions and 27 years of industry data to give customers the intelligence needed to maximize transportation spend, improve customer service and reduce carbon emissions.

About Bridgepoint
Bridgepoint Group PLC is the world's leading quoted private assets growth investor focused on the middle-market with €27 billion AUM and a local presence in the US, Europe and China. We specialize in private equity and private credit and invest internationally in six principal sectors – Business Services, Consumer, Financial Services, Medtech & Pharma, Advanced Industrials and Tech & Media.

Spotlight

Welcome to the world’s leading truck manufacturer! I’m delighted that you are interested in our business. Our sector is currently in the midst of a very exciting time. From a technological standpoint, we are now entering into a new, digital era, 120 years after Daimler invented the truck. From an economic point of view, it’s often difficult to predict how the markets will develop in the future. For example, two very important truck markets, Indonesia and Brazil, experienced an unexpectedly sharp decline in 2015.

Spotlight

Welcome to the world’s leading truck manufacturer! I’m delighted that you are interested in our business. Our sector is currently in the midst of a very exciting time. From a technological standpoint, we are now entering into a new, digital era, 120 years after Daimler invented the truck. From an economic point of view, it’s often difficult to predict how the markets will develop in the future. For example, two very important truck markets, Indonesia and Brazil, experienced an unexpectedly sharp decline in 2015.

Related News
SUPPLY CHAIN

Turvo and Everstream Partner to Deliver Supply Chain Risk Mitigation

Turvo, provider of the world's leading collaboration application designed for the supply chain, announced a partnership with supply chain risk assessment and analytics platform Everstream Analytics. With Everstream's proprietary end-to-end data feeding into Turvo's Collaboration Cloud and transportation management software (TMS), Turvo now offers the industry's most sophisticated shipment-level supply chain risk indicator and mitigation features. The partnership gives Turvo's customers enhanced tools and risk insight to respond to events in real-time and manage by exception. Using Turvo's solutions, supply chain managers can now make proactive logistics decisions in the face of the most challenging supply chain conditions. Everstream's AI-powered predictive insights provide real-time data on unexpected events such as weather, congestion, and other factors that could impact the estimated time of arrival or departure of trucks, trains, planes, or ships. Third-party logistics providers and shippers using Turvo's Collaboration Cloud can now make changes to the shipment route and proactively inform their customers about upcoming delays or risks. In addition, insights generated by the collaboration allow users of Turvo's software to make products, network, and transportation planning decisions towards a self-driving, self-healing, and cost-efficient supply chain. Given the existing port congestion condition and global supply chain disruptions, incorporating Everstream's insights into our platform gives our customers the edge they need to manage increasing volatile supply chain conditions. These solutions are particularly valuable for temperature and time-sensitive supply chains like food and beverage retailers, grocery retailers, pharmaceuticals, and medical devices." Scott Lang, Chairman & CEO, Turvo "For far too long, companies have been playing a never-ending game of catch-up with events outside their control – weather, supplier issues, port congestion, political unrest, a global pandemic, you name it. You can't manage what you can't see, and this collaboration puts critical information in front of the right people," said Julie Gerdeman, CEO, Everstream. "Risk intelligence helps companies navigate the uncertain business environment. Successful supply chains manage risk to their competitive advantage," said Lang. "Turvo together with Everstream Analytics' insights give supply chain professionals around the world a way to get in front of costly delays and disruptions and provide a better customer experience." About Turvo Turvo provides the world's leading collaboration application designed specifically for the supply chain. Turvo connects people and organizations allowing shippers, logistics providers, and carriers to unite their supply chains, deliver outstanding customer experiences, collaborate in real-time, and accelerate growth. The technology unifies all systems, internal and external, providing one end-to-end solution to execute all operations and analytics while eliminating redundant manual tasks and automating business processes. Turvo customers include some of the world's largest, Fortune 500 logistics service providers, shippers, and freight brokers. Turvo is based in the San Francisco Bay Area with offices in Dallas, Texas, and Hyderabad, India. About Everstream Analytics Everstream Analytics is a supply chain risk analytics company that delivers actionable insights to increase the resilience and agility of our clients' supply chains, protecting revenue and reputation. Our solution integrates with our clients' Procurement, Logistics and Business Continuity platforms to deliver global, end-to-end visibility of supply chain risk to enable our clients to Think Bigger. We employ a unique combination of human expertise, artificial intelligence and proprietary data to deliver predictive insights to enable our clients to See Further. We combine data science, proprietary intelligence and multilingual specialists to monitor global risk and events in real-time to enable our clients to Act Sooner. We embed risk analytics into decision making during planning and execution across all functions and phases of our clients' supply chains to help them Get in Front of What's Ahead and turn risk into a competitive advantage.

Read More

SUPPLY CHAIN

Blume Global now runs logistics operating platform natively on Google Cloud

Blume Global, the leading provider of supply chain execution and visibility solutions, is proud to be the first to deliver logistics execution and supply chain visibility solutions completely native to Google Cloud Platform. Customers that use Blume's digital operating platform with Blume Maps can access these solutions from a cloud-native platform. Blume's digital supply chain operating platform with Blume Maps, a digital twin of the supply chain, was born on GCP in 2018. Blume's digital operating platform and solutions are used by some of the largest freight railroads, container steam-ship lines, logistics service providers and shippers in the world to manage and track the movement of freight and transportation assets in more than 130 countries. Blume leverages GCP's services to collect, clean and provide access to high quality and accurate logistics data, enabling Blume's high-value solutions including Blume Maps; international, intermodal and domestic transportation management; transportation asset management; supply chain visibility; order orchestration; and control tower, which were also born on GCP. "Organizations today require solutions that help them manage and optimize their logistics strategies with data. We're pleased that Blume has chosen to run its platform on Google Cloud and provide customers with the solutions they need to succeed." Hans Thalbauer, managing director, Google Cloud Supply Chain. Blume's digital operating platform goes beyond the TMS status quo. Its supply chain digital twin, Blume Maps, is modeled after Google Maps. Consumers use Google's map tool to find locations, generate directions and provide feedback on each journey. With Blume Maps, planning a freight shipment's route, tracking the shipment's progress and ETA, and changing course during the journey if problems arise, is as natural as using Google's navigation app during a family road trip. The solution allows customers to generate accurate lead times, real-time shipment location, and ETAs for road, ocean, air, and railroad. Blume Maps can also provide alternative modes, carriers and routes when shipments are behind schedule, enabling unrivaled supply chain agility. "When considering where we wanted to build Blume Maps, we made a very conscious decision to go with GCP instead of other cloud providers because of their commitment to making a difference in the supply chain space," said Blume Global CEO Pervinder Johar. "At Blume, we're building the digital supply chain operating platform for the next 50 years, and our partnership with Google Cloud Platform has enabled that mission." About Blume Global The supply chain technology provider Blume Global aims to remove $1 trillion of waste from the global supply chain, making logistics processes more agile, dependable and sustainable with innovative logistics execution and visibility solutions. Blume's digital platform goes beyond the transportation management status quo, empowering users to quickly predict the impact of disruptions and react in real time before minor issues become major problems. With one of the most extensive networks among logistics technology providers, Blume Global's direct connectivity to the ocean, air, rail, parcel, LTL and truckload carriers combines with Blume Global's solutions and 27 years of industry data to give customers the intelligence needed to maximize transportation spend, improve customer service and reduce carbon emission.

Read More

SUPPLY CHAIN

Tive and Transporeon join forces to improve integrated global first-mile to final-mile visibility

Tive, a leading real-time in-transit visibility provider, has partnered with Transporeon, a leading digital freight platform that powers the largest global freight network of 1,200 shippers, 100 retailers and 120,000 logistic service providers and carriers with its real-time visibility solution Sixfold. By integrating data and insights beyond shipment location and condition, the new partnership will provide mutual customers with insights that deliver a better end-customer experience through a single source where appropriate. Logistics professionals are demanding next-generation actionable insights to manage their customers' growing expectations actively. This partnership enables shared efficiencies for all logistics partners in all supply chains and reduces time to visibility for customers across the globe. Transporeon's extensive data set and AI-driven platform allows all network users to optimize processes through each transportation cycle continually. With Sixfold, Transporeon already offers a powerful telematics-based real-time visibility solution which has been recognized by Gartner as a challenger in RTTVP solutions. Sixfold is prepared for collaboration via its Open Visibility API. "Increasing collaboration among supply chain solutions providers is pivotal for the future efficiency and sustainability of in-transit visibility," said Stephan Sieber, CEO, Transporeon. "We are excited about our partnership with Tive and are looking forward to joining other leading supply chain insights providers to propel innovation and vastly improve end-customer experiences." "Working in collaboration in supply chain visibility is what we strive for every day here at Tive," said Tive CEO and Founder Krenar Komoni. "Combining all aspects of real-time shipment data, customers everywhere get real-time information on what is happening with their shipments. We are excited for Transporeon to join this powerful partnership to help make global supply chains more efficient." About Tive Tive is a leading provider of real-time supply chain visibility insights that help logistics professionals actively manage their in-transit shipments' location and condition. With Tive, shippers and logistics service providers (LSP) eliminate preventable delays, damage, and shipment failures. Tive's solution provides data generated by its industry-leading trackers allowing clients to actively optimize their shipments, improve their customers' experience, and unlock supply chain insights in an actionable real-time manner. For more information, visit www.tive.com. About Transporeon Transporeon's goal is to bring transportation in sync with the world. Our cloud-based transportation sourcing and management platform powers the most experienced network of shippers, suppliers, retailers, goods recipients, and carriers globally. Founded in 2000, we help our 1,300+ active global shippers and our 120,000+ carriers transport goods more efficiently and sustainably than ever before. In addition to our core Transporeon Execution Solutions, procurement, and market intelligence solutions, we also offer Real-Time visibility with Sixfold and payment services with ControlPay. Combining this deep industry knowledge with technical expertise can provide a holistic approach to transport management.

Read More