THL Automation Fund Leads $100 Million Series D Investment for FourKites
BOSTON, MA – Thomas H. Lee Partners, L.P. (“THL”), a premier private equity firm, today announced that it has closed on a transaction to lead a $100 million investment round in FourKites, Inc. (“FourKites” or the “Company”), a market leading real-time supply chain visibility software platform. THL is joined by strategic investors Zebra Technologies, Volvo Group Venture Capital, and Qualcomm Ventures, LLC, in partnering with FourKites’ CEO and founder, Mathew Elenjickal to drive the Company’s next phase of growth. Mike Kaczmarek, THL Managing Director, will join the FourKites Board of Directors as part of the transaction. This marks the third investment for THL’s Automation Fund, the industry’s first fund dedicated to investing in automation related businesses.
Headquartered in Chicago, IL, FourKites enables the world’s largest companies to better manage their supply chains by automating the collection of complex and disparate data and turning that information into real-time, predictive insights. By leveraging FourKites’ proprietary software platform and data algorithms, customers are able to reduce operating costs, increase on-time shipping performance, and improve customer service levels. Trusted by over 500 of the world’s biggest brands, including Walmart Canada, Dow, Eastman Chemical, Meijer, PetSmart, and The Michaels Companies, FourKites is a leader in the rapidly growing market for real-time visibility solutions with over 400,000 connected carriers across 176 countries.
“We are thrilled about the opportunity to partner with Matt and the FourKites team,” said Mike Kaczmarek, Managing Director at THL. “FourKites is a leader in the supply chain visibility sector and drives significant, immediate return on investment for their customers. We expect continued strong growth in this market fueled by accelerating market penetration and FourKites’ leading software solutions.”
“THL has a long track record of successfully partnering with and scaling visionary technology companies,” said Mathew Elenjickal, Founder and CEO of FourKites. “Their expansive network and deep level of domain expertise made them an obvious partner of choice for FourKites as we continue to expand the scope of visibility and seek out new opportunities for innovation in the digital supply chain.”
The Series D round will provide growth capital for FourKites to continue building its leading software solutions platform, accelerate new product innovation for its customers, and execute on broader organic and inorganic growth objectives.
DC Advisory acted as financial advisor, Kirkland & Ellis LLP acted as legal advisor, and RSM acted as accounting and tax advisor to THL.
About Thomas H. Lee Partners, L.P.
Thomas H. Lee Partners, L.P. (“THL”) is a premier private equity firm investing in middle market growth companies exclusively in three sectors: Financial Services, Healthcare and Technology & Business Solutions. We couple our deep sector expertise with dedicated internal operating resources to transform and build great companies of lasting value in partnership with management. Our domain expertise and resources help to build great companies with an aim to accelerate growth, improve operations and drive long-term sustainable value. Since 1974, we have raised more than $25 billion of equity capital, invested in over 150 companies and completed more than 400 add-on acquisitions representing an aggregate enterprise value at acquisition of over $200 billion. For more information on THL, please visit THL.com.
FourKites® is the #1 supply chain visibility platform in the world, extending visibility beyond transportation into yards, warehouses, stores and beyond. Tracking more than 1 million shipments daily across road, rail, ocean, air, parcel and courier, and reaching 176 countries, FourKites combines real-time data and powerful machine learning to help companies digitize their end-to-end supply chains. More than 500 of the world’s most recognized brands — including 9 of the top-10 CPG and 18 of the top-20 food and beverage companies — trust FourKites to transform their business and create more agile, efficient and sustainable supply chains.
To learn more, visit https://www.fourkites.com.