KlearNow Raises $ 50 Million to Alleviate Global Supply Chain Constraints
KlearNow’s platform connects different links in the supply chain while digitizing and streamlining processes, reducing manual entry time, human errors and costs. KlearNow aims to be the solution to resolve and prevent future supply chain disruptions. Image: KlearNow
KlearNow, a logistics-as-a-service company founded in 2018, announced it has raised $ 50 million in new funding to deliver supply chain solutions that simplify and provide real-time visibility of freight.
Series B was led by Kayne Partners Fund, the growth private equity group of Kayne Anderson Capital Advisors, as well as the continued financing of existing investors GreatPoint Companies, Algerian capital, and Autotech companies and a new investment of Activate capital. Since its $ 16 million Series A funding round in January 2020, KlearNow has grown its customer base and monthly revenue by more than 50 times.
KlearNow’s platform connects different links in the supply chain while digitizing and streamlining processes, reducing manual entry time, human errors and costs. KlearNow aims to be the solution to resolve and prevent future supply chain disruptions. Investors were drawn to KlearNow because it alleviates import-export burdens by streamlining logistics processes and providing real-time end-to-end visibility.
“This latest round of funding allows us to aggressively accelerate our technology development and deployment, geographic expansion and investments in talent, helping us transform the supply chains that fuel commerce,” said Sam Tyagi , founder and CEO of KlearNow. “We are excited to have strategic partners and investors with in-depth knowledge of this space, and we believe that with their support, our technology can have a significant and lasting impact on global supply chains. “
As of January 2020, KlearNow has expanded to Canada and launched its UK service in January 2021 to support the UK and other European businesses. The company recently added a factage marketplace to its LaaS platform to support factage businesses facing planning and scheduling challenges.