Princeton-based Edison Partners has led a $17.5 million investment into Overhaul, a real-time supply chain technology solution, according to a news release Tuesday morning.
The Austin, Texas-based company said it intends to use the proceeds to hit its growth goals for 2020, bolster its product offerings for broad market use, grow its team in North America and Ireland, and expand reach into other key global markets.
“Every company is looking for a way to use data to increase productivity while decreasing costs and risk; their UPS left turn. Overhaul is continually disrupting the logistics industry by arming our clients with the tools (and transparency) to cut supply chain risks and inefficiencies, enhance quality and control across their supply chain and improve overall customer satisfaction to stay ahead of the curve,” Barry Conlon, CEO and founder of Overhaul, said.
“We’re excited to team with Edison Partners to leverage their expertise in accelerating growth, which will enable us to bring supply chain digitization and risk mitigation solutions to companies around the globe.”
Founded in 2016, Overhaul uses visibility to detect and automatically correct noncompliance with supply chains. It tripled in size in 2019 and is set to repeat that growth in 2020. The capital from Edison brings its total funding to $27.5 million.
“Amazon easily demonstrates how world-class supply chain management is a powerful advantage. Today, true supply chain visibility is non-existent for most global businesses. Overhaul’s device and data-agnostic solution approach generates the actionable oversight and real-time data that global companies need to gain a competitive advantage, along with the ability to mitigate risk and significantly reduce costs,” Ryan Ziegler, general partner, Edison Partners, said.
Further participation in the investment comes from Overhaul’s existing investor, Abbey International Finance Group.
