CSAA backs Overhaul
Austin-based Overhaul , a supply chain integrity technology solution, leveraging visibility to detect and correct non-compliance within supply chains, has raised $35 million in a Series B funding round led by Macquarie Capital, with participation from Edison Partners and Avanta Ventures (venture arm of CSAA Insurance Group).
Founded in 2016, Overhaul claims to work with Fortune 100 companies and to date, the company has raised $55 million.
“Partnering with Macquarie Capital – a world-leading principal investor and advisor – solidifies our position as a leader in supply-chain technology solutions. Macquarie will enable us to significantly grow our global footprint with an innovative partner who shares our vision for supply-chain digital transformation, which is precisely why we chose them as our investment partner.” – Barry Conlon, CEO and founder of Overhaul.
Most recently, Overhaul announced its newest offering, “TruckShield™”, a risk-management technology solution for North American motor carriers that uses existing fleet hardware to identify dangerous or illegal driving practices in real time, while implementing corrective actions to avoid costly situations.
“Overhaul’s ability to create full visibility, security, and connectivity in the supply-chain market is truly differentiated, and positions itself to digitize what has historically been a physically documented space. We’re proud to work with Barry and his team and believe Macquarie can help accelerate Overhaul’s growth by leveraging our global experience and relationships in supply-chain technology and related areas.” – Jared Doskow, Managing Director at Macquarie Capital Principal Finance, who has joined Overhaul’s board as part of the investment.
In the coming months, the company will be growing its global team with numerous key hires in their software-development, product, sales, marketing, and talent-development teams, across the United States, Mexico, and Ireland, while continuing to innovate across its two core products: Overhaul Sentinel™ and TruckShield.