MacroPoint announced it has received a $44 million investment from Susquehanna Growth Equity (SGE). The company said it plans to accelerate investment in product and network expansion, both in the US and internationally.
In conjunction with the financing, MacroPoint said it 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 provider of talent management software with over $100m 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. “While we're incredibly proud of how far we've come, we've only scratched the surface. Having SGE’s experience in rapidly scaling businesses will help us realize our vision of providing global, multi-modal 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. They are way ahead of the competition.” said Ben Weinberg of SGE, “As shippers increasingly demand visibility solutions, MacroPoint’s network and intellectual property portfolio are ideally positioned to serve it.”