Project44’s Bet on Refining Global Supply Chain Data
"Data beats intuition. But only when it’s reliable." — someone in logistics, probably
The first time I saw a supply chain visibility tools in action, I was at Amazon trying to forecast late arrivals on inbound trailers using a mix of manual scans, Excel trackers, and Slack channels. It was messy, reactive, and full of gaps. Everyone knew where things were supposed to be—but nobody really knew where anything was.
Project44 set out to solve these problems. I first heard of Project44 while in grad school; one of my classmates was doing a summer internship at their Chicago office. Being an intern, he had a very superficial view of the company, and didn’t explain the problem statement in a way that I thought was descriptive. So I forgot about it. Then, at the beginning of 2025 when doing some research for a paper I was writing around Industry 4.0, I noticed that their name kept popping up. So I dig deeper.
The Before State: When Nobody Knew Anything
For most of the last two decades, supply chain data lived in silos (some would argue it still does):
Trucking companies had proprietary telematics and ELD systems
Ocean freight data came from port call logs, manifests, and carrier dashboards
Shippers relied on emails, phone calls, and/or faxes for location updates
Most Transportation Management Systems were closed-loop—designed to manage internal routing, not external signals
This fragmentation created what FreightWaves calls the "fog of freight"—limited visibility, delayed insights, and reactive planning.
Even with the ELD mandate enforced in 2017 by the FMCSA, the U.S. still ended up with over 400 different ELD providers. As of 2024, five vendors—including Samsara, Motive (formerly KeepTruckin), and Geotab—control the majority of ELD share, making them gatekeepers of location data. Most of these systems don’t integrate natively with shippers, which means access to real-time data is not guaranteed. All three of those companies are reported to be unicorns; they’re all working on getting a solution for this utilizing more IOT, which is just creating an over-engineered solution (in my opinion).
This wasn’t just inefficient—it was expensive. According to a 2022 McKinsey report, supply chain disruptions cost the average company 45% of one year’s profits over a decade. A big part of that loss comes from not knowing where shipments are or when they’ll arrive.
What Project44 Actually Does
They started in 2014 in Chicago with a simple mission: connect the world’s transportation data in real-time. Instead of trying to replace TMS systems, it complements them—becoming the API layer between shippers, carriers, and software platforms.
At its core, Project44 is a data infrastructure company. It plugs into:
Carrier telematics systems and GPS
ELDs across thousands of fleets (Samsara, Motive, Geotab)
Port terminals and customs agencies
Parcel carriers, LTL providers, and global freight forwarders
Enterprise software (Oracle, SAP, Blue Yonder, MercuryGate)
And it pipes all that into live dashboards, ETAs, and predictive alerts. Unlike most legacy systems, it doesn’t ask you to change your workflow—it integrates with it.
As of 2024, Project44 claims:
Over 1,300 connected partners across 170+ countries
97% coverage of North American truckload shipments
Visibility into over 80% of global containerized ocean freight
Near-real-time latency (sub-60 second refreshes) in over 35 languages and markets
Their biggest move was the acquisition of:
Ocean Insights (2021) for maritime tracking
ClearMetal (2021) for inventory flow forecasting
Convey (2021) for last-mile visibility and returns
These moves weren’t just about market share—they were about owning each layer of the freight journey, from port to doorstep.
Inside the Product: What You’re Actually Buying
Project44’s product suite covers:
Movement: real-time tracking across modes (parcel, LTL, TL, ocean, rail, air)
Predict: predictive ETAs, delay alerts, dwell time analysis
Experience: branded customer visibility for shippers and end customers
Sustain: Scope 3 emissions tracking by carrier, route, and mode
Platform: robust APIs for TMS, WMS, ERP integration
This isn’t a standalone platform—it’s an infrastructure layer. Project44's true product is reliable, normalized, and enriched data that gets embedded inside customer workflows, making it part of how teams plan, react, and communicate across the supply chain.
How Project44 Makes Money
Project44 operates a B2B SaaS model, charging shippers and 3PLs based on volume and functionality. Revenue drivers include:
Annual subscriptions tied to shipment volume and user seats
Per-shipment fees for certain carriers and international lanes
Add-ons for premium features (e.g., carbon analytics, branded tracking pages)
According to PitchBook and private investment briefs, Project44 surpassed $130 million in annual recurring revenue as of late 2023. Its contracts are sticky because customers often integrate the API deeply into warehouse planning, customer service dashboards, and even e-commerce platforms.
Gross margins are high for a logistics company—reportedly above 70%, because the product is data, not physical transport. They don’t sell freight. They sell foresight. They are in the most margin-friendly area in supply chain.
How The company Is Funded
Since its founding in 2014, Project44 has raised over $900 million in venture funding across multiple rounds. Its investor roster includes:
Insight Partners (lead investor in multiple rounds)
Sapphire Ventures
Goldman Sachs
Generation Investment Management (Al Gore’s sustainability-focused fund)
In January 2022, Project44 raised a $420 million Series F at a reported valuation of $2.7 billion. The round was co-led by Thoma Bravo and TPG, two major private equity players.
The company has used its funding to:
Accelerate global expansion (with offices in Paris, Singapore, and São Paulo)
Acquire strategic capabilities (like Ocean Insights, ClearMetal, and Convey)
Invest in infrastructure, carrier onboarding, and signal enrichment
While an IPO was rumored for 2023, shifting market conditions delayed that path. Still, Project44 has positioned itself as a long-term infrastructure play—not just a freight tech app.
With this capital base, they’re not just tracking freight. They’re trying to become the system of record for global movement.
Where It Goes from Here
So what’s next for Project44?
They’ve already captured much of the enterprise market for visibility. The next battleground is deeper intelligence—going from tracking to optimization:
Prescriptive logistics: Not just showing where a delay occurred, but suggesting what to do about it. Let’s think of AI and how LLM can come into play here.
ESG and emissions reporting: As Scope 3 pressure increases, Project44 is well-positioned to turn its emissions visibility tools into regulatory reporting products.
Mid-market adoption: While their enterprise playbook is mature, the mid-market segment is still fragmented. Plug-and-play integrations and templated onboarding could unlock a large untapped base.
Global latency advantage: As supply chains become more digitized in LATAM, MENA, and Southeast Asia, whoever can provide reliable signal first wins. Project44 is investing heavily in regional partnerships to stay ahead.
There’s also potential for vertical-specific solutions. Think pharma, retail, auto—industries where real-time tracking isn’t a nice-to-have, it’s an operating requirement.
Whether or not Project44 IPOs in 2024 is still up in the air. But the fundamentals are in place: sticky infrastructure, strong gross margins, and a growing ecosystem of customers who depend on them.
Final Thought
The logistics industry spent decades running on tribal knowledge and delayed updates. Project44 came in with a simple promise: show people where things really are.
But that’s no longer enough. Every platform has a tracking tile now. What matters is action. Precision. The ability to intervene early and plan smarter. That’s where Project44 is headed. And if they get it right, they won’t just be part of the tech stack.
They’ll be the platform global supply chains are built on.
