2-5-19

Funding led by existing investors will back software firm’s expansion beyond trucking, U.S. market

Freight-tracking software startup FourKites Inc. has raised $50 million in new funding less than a year after its last round to back its expansion beyond trucking and U.S. domestic shipping.

The Chicago startup gathers live location data on shipments from suppliers such as Land O’ Lakes Inc. to retailers and factories that help businesses at all points on the supply chain more accurately predict when cargo will arrive. FourKites also tracks how long carriers typically spend at a farm, factory or warehouse site to predict when shipments will depart.

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