Austin-based supply chain tech startup Overhaul raised $17.5 million in a new round of funding, the company announced Tuesday.
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The latest round, which was led by Edison Partners, brings Overhaul’s total funding to $27.5 million. Overhaul last raised money in May 2019, when it landed $7 million in a round led by Abbey International Finance. The firm also led the company’s $4.5 million seed round in December 2017, according to Crunchbase.
Overhaul detects noncompliance in supply chains and automatically fixes the issues so companies don’t experience supply chain disruptions. Companies in the pharmaceutical and food industries use Overhaul when they move freight around the world, according to a statement from the company.
“Amazon easily demonstrates how world-class supply chain management is a powerful advantage,” Edison Partners general partner Ryan Ziegler said in a statement. “Today, true supply chain visibility is non-existent for most global businesses. Overhaul’s device and data-agnostic solution approach generates actionable oversight and real-time data global companies need to gain a competitive advantage, with the ability to mitigate risk and significantly reduce costs.”
The company plans to use the new funding to grow its product offerings, hire for its teams in North America and Ireland (its European headquarters), and expand into new markets. Overhaul said in the statement that it “tripled in size” last year and is expecting to repeat that same growth this year.
Illustration Credit: Li-Anne Dias