MacroPoint Accelerates Growth With $44 Million Investment
MacroPoint has received a $44 million investment from Susquehanna Growth Equity, LLC (SGE). The company plans to accelerate investment in product and network expansion, both in the U.S. and internationally.
MacroPoint provides a multimodal freight tracking network that provides shippers, logistics service providers and carriers real-time visibility into load status.
MacroPoint owns the largest visibility network in the industry, encompassing of over 800,000 drivers and over 3,000 paying customers (including JB Hunt, UPS and FedEx), tracking over two-million loads per year. MacroPoint’s patented technology includes easy-to-use and field-tested integrations with all major TMS and ELD packages. Beyond visibility, the software offers control tower functionality and analytics, exception reporting, automated arrival/departure alerts, and HOS-related features. The cloud-based solution is integrated with a growing number of TMS systems, automating the entire process and eliminating the need for drivers to check in with dispatchers, and for shippers and logistics service providers to check in with carriers.
In conjunction with the financing, MacroPoint is adding supply chain and technology experts to its board of directors, beginning with Dan Dershem, founder and former CEO of LeanLogistics, and Ronald Kasner, CFO of iCIMS, a leading provider of talent management software with over $100 million in annual recurring revenue.
“MacroPoint was founded to help shippers and logistics service providers eliminate the many blind spots in their supply chains,” said Bennett Adelson, CEO of MacroPoint. “Having SGE’s experience in rapidly scaling businesses will help us realize our vision of providing global, multimodal supply chain visibility. Our team is committed to our customers and to making MacroPoint the most robust visibility solution in the freight transportation marketplace.”
“As experienced supply chain technology investors, we were very impressed by MacroPoint’s emergence as the industry standard for freight tracking and visibility,” said Ben Weinberg of SGE. “As shippers increasingly demand visibility solutions, MacroPoint’s network and intellectual property portfolio are ideally positioned to serve it.”