CHICAGO–(COMMERCIAL THREAD) – project44, the global leader in real-time supply chain visibility, today announced the acquisition of Austin-based Convey, the technology leader in the last mile that provides direct delivery experiences to the Outstanding Consumer for over 200 of the world’s top brands including The Home Depot, Nieman Marcus, Ferguson, Ingram-Micro and more. Convey, recognized as a Challenger in the Gartner 2021 Magic Quadrant for Real-Time Visibility Platforms, combines real-time visibility, post-purchase experiences, and machine-learning-based analytics to improve the overall customer experience. Together, the two companies now serve the global end-to-end supply chain, delivering real-time visibility and actionable insights from raw materials to the front door to help brands deliver differentiated experiences directly to the consumer and of e-commerce for their customers.
The acquisition, for a total of $ 255 million, is project44’s third in 2021 and the largest to date, solidifying the company’s position as the connecting fabric of modern supply chains. Having achieved unicorn status earlier this year with a valuation of over $ 1.2 billion, project44 is the largest visibility platform business as measured by ARR, number of customers and number of carriers. With Convey, project44 now connects more than 880 global shippers and third-party logistics providers with a network of 113,000 carriers, 2.6 million assets and over 9 billion last mile shipping events to help shippers optimize costs, increase revenue, improve speed and service. and improve the delivery experience.
This acquisition is also significant as it demonstrates project44’s position as an acquirer of choice for Generation 2 logistics technology companies. With three such acquisitions in the past six months, including Ocean Insights, ClearMetal and now Convey , project44 is the largest brand in Generation 2 logistics technology. These modern technology stacks allow project44 to quickly reuse components of the acquired company technology within the project44 platform in a significantly shorter time than that. which is possible for Generation 1 traditional logistics technology companies.
Once a back office function, the supply chain is now recognized by consumers and industry as one of, if not the most critical, business functions on Main Street on Wall Street worldwide. According to Gartner®, Inc., “Enabling end-to-end supply chain visibility, providing access to customer experience (CX) data, and aligning with CX structures and initiatives across the organization. organization are the main steps taken to foster a better CX- culture of the targeted supply chain.1
“Project44 solves today’s most critical business challenge: how to meet evolving customer expectations while remaining operationally efficient during unprecedented uncertainty and increasing complexity,” said Jett McCandless, CEO and founder of project44. “Our acquisition of Convey brings project44 to the front door and helps our partners become more proactive and efficient so they can provide people with the products they want and need during these vacations and beyond. ”
project44 and Convey are dramatically changing the way businesses see, learn, and respond to downstream changes, such as shipping delays, ETA changes, COVID-related labor shortages, and plant closures. ports. As businesses enter a tight holiday season, the demand for full visibility of orders and the ability to anticipate problems before they arise has never been greater. Additional Convey functionality, including the ability to resolve parcel delivery issues through automated customer communication, has strengthened project44’s suite of workflow solutions, enabling carriers and logistics service providers to spend less time on the job. work manually and more time to focus on their core business.
“The stakes are high for businesses not only to fulfill and ship orders, but also to make the right promises of uptime and delivery. However, volatile conditions, overwhelming complexity and supply chain blind spots make this goal difficult to achieve, ”continued McCandless. “We solved this problem with the acquisition of Convey, making project44 the unmistakable choice for any company that wants to leverage supply chain and logistics as a competitive advantage and a driver of brand loyalty. ”
Together, project44 and Convey provide a unique solution that delivers value to customers and supply chain partners by:
Establish a unified view of the supply chain – from raw materials to the consumer’s doorstep
Provide the same managed and superior consumer delivery experience capabilities in e-commerce to the much larger B2B marketplace
Streamline daily workflows and collaboration between shippers, sellers and carriers to optimize overheads and increase time spent on value-added work
Extend the impact of AI on the supply chain with predictive ETAs and dynamic transit times before and after purchase, powered by the most reliable, comprehensive, and high-quality transportation dataset of the sector
“Salesforce, Google and Adobe have transformed virtually every aspect of the digital customer experience through visibility and smart decisions in the form of marketing automation, targeted advertising and personalization. Now, with Convey, project44 brings this cutting-edge approach and technology to the most complex customer experience challenge yet – the supply chain, ”said Rob Taylor, Founder and CEO of Convey. “We are excited to merge our forces with project44 and look forward to continuing to grow one of the world’s largest and most disruptive software companies. ”
Improve the customer experience
“With thousands of shipments in flight at any given time and the details of those orders living in many disparate systems within our organization, it can be difficult to determine which ones require our immediate attention,” said Devin Van Hout, vice -President. digital commerce at Ferguson Enterprises. “Convey’s solution gives our team all the information we need to move from reactive to proactive, while also providing us with the tools to communicate with all parties involved in the same view. The result is a simple and consistent customer experience in the face of massive B2B complexity. ”
project44 will host the first virtual Supply Chain Live event at 9:00 a.m. CST on September 28. The event will highlight the challenges brands face as the busiest retail season approaches in the midst of another disruptive year, and feature a fireside chat with the Vice President of Gartner research, Bart De Muynck. TO Enroll in the online supply chain or to learn more about key project44 platform insights that are critical to the retail supply chain, visit project44.com.
1 Gartner, “Supply Chain Executive Report Drive Customer Value Through Culture and Insights”: Thomas O’Connor, Beth Coppinger, August 30, 2021. GARTNER is a registered trademark and service mark of Gartner, Inc. and / or its affiliates in United States and internationally and is used here with permission.
About the project44
project44 is the world’s leading advanced visibility platform for shippers and logistics service providers. project44 connects, automates and provides visibility into key transport processes to accelerate information and shorten the time it takes to turn that information into action. By leveraging the power of the project44 cloud platform, organizations increase operational efficiency, reduce costs, improve shipping performance, and deliver exceptional customer experiences. Connected to thousands of carriers around the world and offering full coverage for all ELD and telematics devices on the market, project44 supports all modes of transport and types of shipping including Air, Parcels, Final-Mile, Less -than-Truckload, Volume Less-than-Truckload, Groupage, Full Truck, Rail, Intermodal and Ocean. In 2021, project44 was named a Leader among Real-Time Transportation Visibility Providers in the Gartner Magic Quadrant. To learn more, visit www.project44.com.
Convey is the global leader in Delivery Experience Management (DEM) delivering exceptional customer delivery experiences for some of the world’s most recognized brands in retail and logistics. The company’s DEM platform combines estimated in-cart delivery date, real-time visibility in transit, post-purchase communications, and AI-powered insights to create a solution capable of perfecting the delivery of the product. last mile. Founded in 2013, Convey is based in Austin, Texas. To learn more, visit www.getconvey.com.