Irish-founded Overhaul secures $55m

13 Jan 2025

Image: © APchanel/Stock.adobe.com

The fresh funding will be used to advance its AI offering and support its ongoing acquisition plans.

Supply chain software company Overhaul has secured $55m in equity funding in a round led by Springcoast Partners.

Founded in Ireland in 2016 by Barry Conlon and David Broe, the company has developed a software platform that gives organisations better visibility over the security of their supply chains.

According to the company, it safeguards more than $1.4trn in cargo trade at any given moment. Companies that use its services include Microsoft, Dyson and Bristol Myers Squibb.

Overhaul, which is headquartered in Austin, Texas, said it will use the latest funding to enhance its proprietary AI technology to identify and mitigate supply chain risks, enhance customer value and to support its ongoing acquisition plans to expand its reach.

In February 2023, the company acquired cargo theft monitoring platform SensiGuard. A month later, it received $73m in funding, with growth equity investor Edison Partners leading the investment.

Conlon, who is the CEO of Overhaul, said the supply chain tech space will see “significant consolidation” over the next two years and Overhaul can deliver “the ultimate integrated solution”.

“Springcoast’s investment, together with continued support from Edison Partners and Americo, is a testament to the strength of our vision and the value we deliver to our customers,” he said.

Springcoast is a New York-based growth equity firm focused on partnering with software and technology companies. As part of the investment, Chris Dederick and Holger Staude from the firm will join Overhaul’s board of directors.

Staude said Conlon and his team have positioned Overhaul as “a global leader in active supply chain risk management and intelligence”.

“We believe the company’s fully integrated solution sets it apart in the market, and we are excited to support their go-forward growth plan,” he said.

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Jenny Darmody is the editor of Silicon Republic

editorial@siliconrepublic.com