11 Apr, 2022, 08:00 ET
300%+ revenue growth, 200+ new global customers, and hired 100+ employees in 2021, six new investors in the B round, and thousands of shipments saved from delays, spoilage, damage or loss.
BOSTON, April 11, 2022 /PRNewswire/ -- Tive, the technology leader in the new era of supply chain and logistics visibility, today announced the closing of a $54M Series B funding led by AXA Venture Partners, with participation from Sorenson Capital, Qualcomm Ventures, Fifth Wall, SJF Ventures and Floating Point Ventures as well as the existing investors RRE Ventures, Two Sigma Ventures, NextView Ventures, Hyperplane Ventures, Broom Ventures, and Supply Chain Ventures.
In 2021, Tive grew its revenue by over 300%, acquired more than 200 new customers and expanded its global footprint. This latest investment will fuel Tive's rapidly growing international presence, with the expansion of global sales and marketing initiatives. In addition, it will accelerate the development and introduction of next-generation solutions, services and bring actionable supply chain intelligence and 24/7 monitoring to the market.
#1 in Supply Chain and Logistics Condition and Location Monitoring
Tive continues to outpace and out-innovate the competition with the most advanced multi-sensor trackers, a truly intuitive SaaS application, and live 24/7 shipment monitoring service. As the leading provider of supply chain tracking technology, Tive has delivered real-time shipment visibility in more than 200 countries, and helped save thousands of shipments from being delayed, damaged, spoiled, or rejected.
Addressing an Immediate Need for the Logistics Industry
"Tive helps supply chain and logistics professionals bring their customers to the forefront and improve the experience of their deliveries. We empower every shipper and logistics service provider with the best visibility and monitoring tools. We are committed to developing products that create a seamless experience and don't get in the way of our customer's daily operations," said Krenar Komoni, Founder & CEO of Tive. "With ongoing dedication from our investors, we continue to innovate and serve our customers while strengthening our position as a global provider of shipment insights that power the next generation of sustainable and efficient supply chains."
In 2019, Tive founded the Open Visibility Network (OVN) to ensure its vision of a world where everything and everyone is connected becomes a reality. The OVN makes shipment-level data and insights available to mutual customers and is open to all leading technology-enabled stakeholders. Current OVN members and partners include project44, FourKites, TransVoyant, FarEye, Marine Traffic, Everstream Analytics, and many more.
"Tive has been scaling at an impressive rate, executing decisively on its vision where everything and everyone is connected. Supply chain visibility has become critical in solving large-scale problems in the world today, and Tive has emerged as the global market leader," said Alex Scherbakovsky, General Partner at AXA Ventures Partners. "The breadth of data Tive offers and ease of access for shippers, logistics providers and carriers are best in class. We believe that Tive's next-gen solution and highly valuable network will continue to drive massive growth."
Tive is a leading provider of real-time supply chain visibility insights that help logistics professionals actively manage their in-transit shipments' location and condition. With Tive, shippers, carriers and logistics service providers (LSPs) eliminate delays, damage and shipment failures. Tive's solution provides data generated by its industry-leading trackers allowing clients to actively optimize their shipments, improve their customers' experience, and unlock supply chain insights in an actionable real-time manner. For more information, visit www.tive.com.
About AXA Venture Partners
AXA Venture Partners (AVP) is a global venture capital firm with over $1.5B of assets under management. AVP invests across stages in rapidly growing tech companies in enterprise, fintech, consumer and digital health sectors. With offices in New York, San Francisco, London, Paris and Singapore, AVP helps companies scale internationally. AVP also offers portfolio companies unique business development opportunities to further accelerate their growth. For more information, visit www.axavp.com.
CONTACT: Jim Waters, [email protected]
SOURCE Tive, Inc.
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