Overhaul Raises $35 Million in Series B Funding to Accelerate Growth
Anurag Khadkikar | June 10, 2021
Overhaul, the world's first and only software-based supply-chain visibility, integrity, and security solution for the world's largest brands, announced a $35 million Series B fundraising round. Macquarie Capital is leading the latest round, with Edison Partners and Avanta Ventures also investing (the venture arm of CSAA Insurance Group). Overhaul intends to use the investment to accelerate its plan for further optimizing its current category-creating products.
Overhaul, founded in 2016, has grown to be a trusted provider of supply-chain technology for Fortune 100 companies that move freight globally for pharmaceutical and healthcare, technology, logistics, and food and beverage, having covered billions of dollars in cargo in recent years. Despite the epidemic, the firm announced a $17.5 million Series A growth equity investment headed by Edison Partners in 2020, laying the groundwork to triple its success from the previous year. Overhaul's total investment now stands at $55 million due to earlier fundraising rounds provided by Macquarie Capital Principal Finance.
Overhaul intends to optimize the supply-chain business with transformative software solutions that will give visibility and security in a post-pandemic era, focusing on developing a $19 billion global supply-chain sector. The previous year offered several insights to the supply chain, most notably highlighting the necessity for enterprises to create and maintain effective and proactive risk-management solutions as part of their business resiliency and agility toolset. Overhaul has introduced its newest service, "TruckShield," a market-leading risk-management technology solution for North American motor carriers that utilizes current fleet hardware to identify risky or unlawful driving behaviors.
In the coming months, the company will expand its global team with numerous key hires in software development, product, sales, marketing, and talent development teams across the United States, Mexico, and Ireland while innovating across its two core products Overhaul Sentinel and TruckShield.
Overhaul, founded in 2016 and located in Austin, Texas, is the industry's first and only holistic, end-to-end solution that optimizes global organizations' supply-chain visibility, integrity, and security. Its software-based solution provides supply-chain enterprises with great configurability and rapid time-to-value without the heavy tech debt associated with hardware-based suppliers. Furthermore, Overhaul's logistics-experts team collaborates with each customer to provide a completely customized and comprehensive solution for the complete supply chain, rather than just portions of it. As a result, Overhaul has swiftly established itself as a trusted source for Fortune 100 companies transporting freight abroad in areas such as pharmaceutical and healthcare, technology, logistics, and food and beverage. Microsoft, Bristol-Myers Squibb, Gordon Food Service, and many more companies are among our clients.
About Macquarie Capital
Macquarie Capital is Macquarie Group's advising, capital markets, and major investing arm. Our capabilities include corporate advising services and a broad range of capital solutions, such as capital raising services from stock, debt, private capital markets, and principal investments from Macquarie's balance sheet. These services are bolstered by our extensive industry knowledge in aerospace, defense and government services, consumer, gaming and leisure, financial institutions, healthcare, industrials, infrastructure and energy, real estate, resources, services, technology, and telecommunications and media.
Macquarie Capital Principal Finance, the principal investment arm of Macquarie Capital Advisory and Capital Solutions, offers corporate and commercial real estate customers in North America, Europe, and Australasia flexible primary financing and secondary market investment solutions. Since 2009, the company has made approximately $35 billion in over 580 investments.