project44 has bolstered its market-leader position, posting 100% year over year growth as supply chain visibility takes the global spotlight
project44, the global leader in supply chain visibility solutions, posted 100 percent year-over-year growth in annual recurring revenue (ARR), surpassing $50 million. By delivering end-to-end supply chain visibility to a growing list of global companies, project44 has consolidated its leading position in the market, making its software a critical part of the success of corporations like Amazon, Walmart, Unilever, Lenovo, and H&M.
“We’re seeing signs of maturity in the market. It’s estimated that 80 percent of Forbes Global 2000 Companies will be looking at supply chain visibility in the year ahead,” said Tim Bertrand, president of worldwide GMT and Field Operations at project44. “We have an unmatched technological and operational ability to meet the demands of the market and the events that have created a new awareness about supply chain visibility. These conditions create an incredible growth story for project44.”
This year, more than $100 billion in freight spend ran through its platform, making project44 the market leader in supply chain visibility software. With visibility across 161 countries, including all maritime trade routes and ports, 16 supported languages, and 4.3 million drivers and 3.5 million trucks piping data into the platform, project44 seamlessly connects all parts of the transportation ecosystem, guaranteeing that customers can quickly unlock value.
The growing list of customers that rely on project44’s visibility products to optimize their supply chains includes three of the world’s largest retailers, the world’s third largest clothing retailer, seven of the world’s top food and beverage manufacturers, and two of the top global cosmetics manufacturers. project44 is driving the world’s leading manufacturers and distributors forward with the data needed to maximize throughput, minimize downtime, and reduce inventory levels, helping companies ward off supply chain threats and act proactively.
Another milestone achieved this year was project44’s acquisition of Ocean Insights, a leading ocean supply chain visibility and market intelligence provider. The acquisition provided project44’s customers with comprehensive ocean freight visibility just weeks before the Suez Canal incident snarled global maritime trade. Recently, Gartner named project44 a Leader in the research firm’s first-ever Magic Quadrant for Real-Time Transportation Visibility Platforms (RTTVP). Gartner evaluated 14 vendors out of which project44 received the highest placement for its ability to execute and was also recognized for its completeness of vision.
For more such updates and perspectives around Digital Innovation, IoT, Data Infrastructure, AI & Cybsercurity, go to AI-Techpark.com.