- How will Overhaul use the $73M in growth financing to expand globally? – Given the new expansion in Europe, Brazil, and Mexico, does the company plan on further enhancing operations there?
The growth financing helped support our acquisition of SensiGuard security services, which has a large presence in Mexico, Brazil, and Europe. We look forward to partnering our technology with their security services to provide a best-in-class product to support our global clients and those headquartered in these regions.
- What specific advancement has Overhaul made that makes it a leader in this space?
We go beyond in-transit visibility and report on the quality and compliance of products, apply AI and human intelligence to combat theft, and use our solutions to reduce insurance costs for shippers and LSPs. We are a unique offering for the market, providing visibility, risk management, and insurance solutions all on one platform.
- How do safety, security, and compliance help businesses improve their operations, especially from a global perspective when supply chain disruptions and volatile markets are consistently rearing their ugly head?
In recent years the supply chain has moved to the front pages of the newspaper, amplifying the industry with pain points right in the spotlight. The pandemic has proven how fragile supply chains are, especially when things go wrong. Without visibility, it is difficult to identify and mitigate risks. Without a solution that not only informs but proactively mitigates risk, it is difficult to demonstrate value. This is Overhaul’s focus: delivering a combined visibility plus risk management capability for customers with complex, global supply chains.
- What tools and services does Overhaul provide to customers that differentiate them from the competition?
Overhaul’s solutions are unique in that they are device and data agnostic. Overhaul provides a very quick time to value (an average of just 14 days), making it a much leaner lift than a TMS or SAP integration. Our device agnostic platform means there is no need to switch device providers or vet new options if the current devices are satisfactory. We are Azure-backed, with Microsoft’s cybersecurity-enhanced features, and a part of the Microsoft Supply Chain Platform fully vetted and a trusted ISP in the space. Our platform can ingest complex data sets with zero need for new architecture or data structure.
- How does the investment align with Overhaul’s overall growth strategy?
In total Overhaul has raised just under $100M in private equity to date. The Series B extension was for the acquisition of SensiGuard and to add to our R&D efforts around the world. We are committed to keeping our investment requirements low, maintaining capital efficiency, and achieving profitability in 2023, setting us apart from our competitors and others in the industry.
- Are there any new products and services in the pipeline that are a result of this investment?
We are committed to improving upon our core offerings with additional features in 2023.
- Will this funding affect the prices of existing products and services?
No, there will be no changes as a result of the funding.
- What impact does this announcement have on the global risk and compliance market?
With the merging of Overhaul’s platform and SensiGuard’s services, shippers and LSPs around the globe will have the opportunity to improve their risk profiles considerably.
- Will there be any anticipated changes to the company’s operations or personnel because of this investment?
With the acquisition of SensiGuard security services, we have added over 350 employees to our team, bringing our total employee count to over 600. We now have large teams on the ground in Mexico, Brazil, and the Czech Republic, providing additional intelligence for our customers.