Logistics soware provider FourKites said Wednesday it has raised $100 million in new funding from a group of strategic investors as the arms race in the real-time freight visibility market intensifies.
Chicago-based FourKites, which provides a global multimodal visibility solution as well as a yard management system, is the second major provider in the recent months to get an infusion of cash to target shippers needing to key on in-transit cargo location. That location data is becoming integral in predicting estimated times of arrival and suggesting optimal pick up and drop off times to avoid dwell time.
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