FourKites

FreightTech Friday: 4 tech companies FreightWaves met at MATS

In March, Louisville, Kentucky, hosted the 52nd Mid-America Trucking Show, an event drawing a dynamic spectrum of stakeholders ranging from trucking companies, technology providers and OEMs to parts manufacturers and industry experts. This annual gathering serves as both a showcase of emerging trends and a celebration of the trucking lifestyle.

FreightWaves seized the opportunity to dive into current innovations, conducting interviews with four FreightTech companies poised to revolutionize...

https://www.freightwaves.com/news/freighttech-friday-4-tech-companies-freightwaves-met-at-mats

Illinois Supreme Court lets p44’s defamation suit against FourKites proceed

The Illinois Supreme Court ruled Thursday that project44 may move forward with its defamation lawsuit against rival visibility provider FourKites.

“We plan to continue on the merits of the case,” Jennifer Coyne, general counsel for project44, told FreightWaves.

The dispute began with emails sent to project44 executives in May 2019, alleging accounting improprieties and ties to organized crime at project44. The first email, from “Ken Adams,” accused the company of financial wrongdoing and mafia...

https://www.freightwaves.com/news/illinois-supreme-court-lets-p44s-defamation-suit-against-fourkites-proceed

FourKites confirms 15% cut in global workforce, dismisses key exec

Supply chain visibility platform FourKites confirmed it has reduced its workforce across offices in the United States and Europe by 15% this week. 

“With these changes in place, along with the recent realignment of our leadership team, we are accelerating our timeline to profitability, taking our burn rate to zero — now — and reducing our reliance on capital markets,” a FourKites spokesperson told FreightWaves.

The move included the departure of another key executive, Glenn Koepke, vice president...

https://www.freightwaves.com/news/fourkites-confirms-15-cut-in-global-workforce-dismisses-key-exec

FourKites reshuffles leadership team

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There’s been a leadership shake-up at FourKites.

The visibility platform, which was reportedly valued...

https://www.freightwaves.com/news/fourkites-reshuffles-leadership-team

FourKites introduces generative AI solution

FourKites, supply chain visibility provider, announced the launch of Fin AI, a new natural language interface that aims to help customers surface buried insights, identify opportunities for optimisation, and automate time-consuming tasks, such as assessing the impact of events across a shipment network.

According to FourKites, with Fin AI the company is driving meaningful progress toward eliminating current pervasive data silos by using generative artificial intelligence (AI) — paving the way...

https://container-news.com/fourkites-introduces-generative-ai-solution/

FourKites enhances supply chain visibility with Data Connector

The modern supply chain is a data game — the more data a company has, the better it’s able to avoid and react to local and global disruptions.

The problem for many companies, though, is access to that data.

On Thursday, supply chain visibility platform FourKites launched a product designed to share its catalog of insights more easily. The new offering, Data Connector, allows customers to leverage the firm’s data directly through their own business intelligence systems, whereas in the past they...

https://www.freightwaves.com/news/fourkites-enhances-supply-chain-visibility-with-data-connector

Real-time visibility: new year, same lean strategy

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To kick off 2022, supply chain visibility providers announced record-breaking investment rounds,...

FourKites’ recent raise highlights FreightTech’s current fundraising climate

After a recent round of layoffs, supply chain visibility platform FourKites has disclosed its latest funding round details.

According to a filing Thursday with the U.S. Securities and Exchange Commission, the Chicago-based company in late June raised $30 million from undisclosed investors in exchange for equity, and it hopes to close the funding round with another $50 million. 

In a statement to TechCrunch, CEO Mathew Elenjickal confirmed that one of the strategic investors was FedEx. 

When...

https://www.freightwaves.com/news/fourkites-recent-raise-highlights-freightechs-current-fundraising-climate

FourKites rolls out major update to supply chain visibility platform

supply chain visibility truck

Nine out of the top 10 consumer packaged goods companies rely on the same supply chain visibility platform — and it just got a major overhaul.

FourKites, a Chicago-based provider of supply chain visibility services, on Monday announced the release of a platform upgrade that improves data integration between the wider supply chain and individual facilities.

With the new enhancements, the platform now automatically synchronizes data between shipments in transit and orders waiting in the warehouse...

https://www.freightwaves.com/news/fourkites-rolls-out-major-update-to-supply-chain-visibility-platform

FourKites dismantling document management platform Haven, lays off some workers

Real-time visibility provider FourKites plans to shut down ocean shipping document management and tracking solution Haven by the end of this year, according to multiple sources familiar with the matter, though founder and CEO Mathew Elenjickal says Haven has simply become part of a broader platform.

Separately, the company has conducted a number of layoffs, Elenjickal confirmed.

In April 2021, FourKites acquired Haven to integrate its document management capabilities into a new visibility product...

https://www.freightwaves.com/news/fourkites-dismantling-document-management-platform-haven-lays-off-some-workers

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