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Tive Acquires UK-based MyTrackingDevices
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Tive Acquires UK-based MyTrackingDevices
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®, the largest predictive supply chain visibility platform for shippers, carriers and 3PLs, today announced a partnership to provide mutual customers with an integrated platform that combines all in-transit data including location, market-leading estimated times of arrival (ETA), temperature, light exposure and more. By integrating data that goes beyond shipment visibility, the two platforms will provide their mutual customers with a better end-customer experience.
Increased shipments of consumer packaged goods (CPG), combined with an already-strained global supply chain, demand more meaningful insights to improve ETA, load integrity, and efficient mitigation of preventable delays and damage. Key insights, like location, temperature and light, have become critical, especially for big-box retailers, food shippers and logistics service providers. The Tive and FourKites partnership extends access to critical shipper data including load location and condition to ensure that more
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The pandemic has put pressure on manufacturers to pivot production in order to accommodate new product needs. Those new product needs require additional raw materials, perhaps added components or controls for machinery, and more pressure to deliver to end users as e-commerce surges. All of that amid closed borders, trade wars, and a disconnected multimodal transportation system.
COVID-19 has hit the supply chain very hard when it comes to logistics. And that has created the need for more visibility and data sharing for everything that is in-transit. This big picture problem is why the recent announcement from Boston-based Tive, to deliver an open network for connecting shippers, logistics service providers (LSPs), brokers, and customers, is so important.
Tive, Inc., a Boston, MA-based provider of global supply chain visibility insights, secured a $12m Series A funding.
The round was led by RRE Ventures and Two Sigma Ventures, with participation from existing investors NextView Ventures, Hyperplane Ventures, One Way Ventures, Fathom Ventures, and others.
The company intends to use the funds to accelerate growth and drive product innovation for shipment tracking, alerts and analytics.
Led by Krenar Komoni, CEO, Tive is a provider of global supply chain visibility insights providing real-time visibility into the entire shipment process, including hyper-accurate location data and condition insights such as temperature, shock, light exposure and humidity. With its Visibility as a Service (VaaS) platform, shippers and third-party logistics providers (3PLs) can track and monitor the location and condition of their products while in transit.
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