Supply chain software provider Gnosis Freight said Monday it has accepted an investment of an undisclosed sum from private equity firm Vista Equity Partners.
The investment is from Vista’s Endeavor Fund, which provides growth capital and support to enterprise software and data companies with $10 million to $40 million in annual recurring revenue.
Charleston, South Carolina-based Gnosis provides visibility and tracking technology through its Container Lifecycle Management platform, which allows logistics firms to track and manage their container fleets. The company was founded in 2017 and has been helping BCOs, ocean carriers, freight forwarders and 3PLs in managing the life cycle of shipping containers since.
“We’ve added significant new product capabilities and welcomed a record number of new customers to Gnosis this year – but I believe we are just getting started,” said Austin McCombs, Gnosis CEO and co-founder, in a news release. “We feel confident our platform is precisely what our industry has been asking for, and we are eager to get it in the hands of more customers.”
The company monitors more than 95% of all global shipping activity currently, according to the release.
“Gnosis is pioneering digital connectivity between logistics partners at a critical and complex juncture of the global supply chain … . [W]e could not be more excited to partner with them,” said Rachel Arnold, co-head of Vista’s Endeavor Fund.
More FreightWaves articles by Todd Maiden
LTL earnings estimates cut following weak August updates
RXO completes $1B acquisition of Coyote Logistics
Freight spend, shipments soft again in August
The post Gnosis Freight takes on private equity investor appeared first on FreightWaves.