Overhaul, a logistics security services company, has raised $73 million in equity and debt to help secure physical supply chains. Freight shipping delays have increased due to inflation and other factors, creating challenges for businesses reliant on physical supply chains. Overhaul provides visibility software that aims to anticipate and mitigate these delays using real-time operational and behavioral data, alerting, and performance monitoring. The company uses AI and machine learning to build and train models to detect potential security risks during transit.

Overhaul’s emphasis on AI and machine learning differentiates it from competitors such as Project44 and FourKites, according to Barry Conlon, co-founder of Overhaul. The company has a customer base of over 350 companies, with a forecast of $90 million in annual recurring revenue by the end of the year. The recent acquisition of SensiGuard security services has extended Overhaul’s geographic footprint to Brazil, Mexico, and the Czech Republic, while adding customers in the tech and pharma industries.

Despite a decrease in funding for supply chain tech startups, Overhaul has a sustainable model with customer validation and an enterprise rolodex in pharma, healthcare, technology, 3PLs, and food services, according to Ryan Ziegler, general partner at Edison Partners. Overhaul plans to use the recent funding for R&D and customer acquisition efforts, aiming for profitability in 2023.

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