Overhaul, whose software allows companies to have full visibility of their supply chain in real time, raises $35M Series B led by Macquarie Capital
Context & Ripple Effects
Overhaul has been on a steady funding climb: the $17.5M round in March 2020 established its end-to-end real-time visibility pitch with Edison Partners, and this $35M Series B arrives one week after rival Project44 raised $202M at a $1.2B post-money valuation, reporting $50M ARR. Macquarie Capital leading — an infrastructure-adjacent investor rather than a typical venture firm — is the notable wrinkle in this round.
First-order effects
- Overhaul gains fresh capital to scale its real-time supply chain visibility platform for freight customers, extending a relationship line that began with Edison Partners' 2020 lead.
Second-order effects
- Tive's $54M Series B and Project44's unicorn round put pricing pressure on the visibility category, forcing Overhaul to differentiate on in-transit risk rather than tracking alone.
Third-order effects
- The pattern holds through the decade of coverage: Overhaul later adds a $38M round plus $35M in debt and then a $105M Series C, pointing toward supply-chain visibility consolidating into a capital-intensive category where layered debt-plus-equity stacks become standard.
The trend: Supply chain visibility software is drawing escalating, multi-stage capital as shippers treat real-time freight risk monitoring as core infrastructure.