On Tuesday, logistics and data tracking platform Overhaul secured $73 million in funding, made up of $38 million in equity and $35 million in non-dilutive debt. Edison Partners led the investment round with participation from eGateway Capital.
Founded in 2016 by Barry Conlon and David Broe, Overhaul is a supply chain visibility platform that provides real-time insights on freight transportation. It also provides risk management, compliance and insurance solutions. The platform is used by Fortune 100 companies and helps clients collect and view all of their supply chain-related data.
Overhaul has also incorporated artificial intelligence capabilities into its platform, enabling the company to further secure fright during transportation, according to a company spokesperson.
“This latest growth financing positions Overhaul to be a front runner as a profitable business in real-time visibility and risk management with a fraction of capital but at a similar scale to unicorns in the space,” Conlon, CEO of Overhaul, said in a statement. “The funding is also a validation of Overhaul’s commitment to transforming supply chain visibility and risk management and our strategy in the fluctuating [logistics tech] market.”
Prior to the $73 million raise, Overhaul acquired SensiGuard, a logistics company with offices in Brazil, Mexico and the Czech Republic. The acquisition, which closed in February, expanded Overhaul’s global footprint and added over 350 employees to its team.
The recent funding will be used to continue Overhaul’s global expansion and fund the acquisition of SensiGuard.
“We believe the way Overhaul combines technology, which absorbs data from disparate sources in real-time to make informed, actionable decisions, with best-in-class managed services is a true differentiator and sets them up for continued success in a market leading position,” Joshua Awad, a partner at eGateway Capital, said in a statement.
In 2021, Austin-based Overhaul closed a $35 million Series B round. At that time, the company planned to make 50 new hires for its product, technology and growth teams. Overhaul is still actively hiring and has several openings across departments listed on Built In.
