FourKites Extends its Leadership Position in the Supply Chain Visibility Market with a Year of Strong Growth and Innovation

CHICAGO, Dec. 15, 2022 (GLOBE NEWSWIRE) -- Leading supply chain visibility company FourKites today announced strong global growth during 2022, as the company executed on its vision for automated, interconnected and collaborative supply chains that span transportation, warehouses, stores, trucks and more. The company realized 70% growth in new customers, with more than 1,200 of the world’s most recognized brands now using FourKites to track more than 3M shipments around the world every day.

Among the new customers who are using FourKites to transform their supply chains are Overstock.com, QVC, Brown-Forman Corporation, SpaceX, Chevron Corporation, American Eagle Outfitters/Quiet Logistics, Bacardi, Molson Coors, Fab Fit Fun, Organic Valley, Boston Beer and Ahold Delhaize — further validating Gartner’s ranking of FourKites as a Leader in the 2022 Gartner^® Magic Quadrant™ for Real-time Transportation Visibility Solutions, and the visibility provider of choice for customers with the most complex supply chain needs.¹

“We chose FourKites not only because of the product, the quality and immediacy of the data, and the effectiveness of its APIs, but because of the caliber of the FourKites team,” said Charles Griffith, Chief Technology Officer, Quiet Platforms, a wholly owned subsidiary of American Eagle Outfitters. “Everyone says they’re focused on customer success, but the FourKites team has always been willing to go the extra mile, to really understand the problems we’re trying to solve in a very hands-on way. This is more than a vendor relationship; it’s a partnership.”

In 2022, FourKites achieved:

• 46% growth in total shipments, spanning more than 200 countries and territories
• A 70% YoY increase in the total number of customers
• 50% growth in its global carrier network to nearly 460,000 carriers
• Significant increases in multimodal shipment volume, including a 4X+ increase in ocean shipments and 50% growth in air shipments
• Tracking shipments at 95% of the world’s ports and at 2.7M facilities
• 80% YoY growth in ocean customers, which now include Cardinal Health, Arizona Tile, LyondellBasell, McCain Foods, Roehm, Rove Concepts and Yamaha Motors. FourKites tracks 98% of global ocean traffic, across 270+ ocean lanes and 120 carriers.
• 150% growth in facilities managed through Dynamic Yard and Appointment Manager
• In Europe, 2X growth in the number of shipments tracked across 120 countries and territories, and 40% new customer growth
• In APAC, over 240% growth in shipments tracked across 46 countries, and 91% new customer growth
  

Industry giants back FourKites’ long-term vision of supply chain transformation
In addition to strategic investments in 2021 from industry heavyweights Qualcomm Ventures, LLC, Volvo Group Venture Capital AB and Zebra Technologies, over the past year, FourKites inked strategic partnerships with a number of industry titans to continue executing on its bold vision for the future of digital supply chains. These companies include FedEx, Quiet Platforms, Mitsui & Co., Ltd., Sony, Microsoft and Narvar. The real-time supply chain visibility pioneer was also recognized for its industry leadership and ongoing innovation by Gartner, SupplyChainBrain, Blue Yonder, Built In Chicago, Manhattan Associates and Food Shippers of America.

Unique customer collaboration model continues to deliver industry-first innovations
Close collaboration with customers has been the bedrock of FourKites’ product development since the company’s inception. More than nine out of 10 FourKites customers are active contributors to the company’s IdeaExchange, and FourKites’ Innovation Partner program has generated more than 200 product enhancements from more than 70 companies, including Andersen Corporation, Canfor, Cardinal Health, Ecolab, Henkel, Kimberly-Clark, Smithfield and Sprouts Farmers Market, among others.

New solutions released in 2022 include:

• New detention & demurrage capabilities to help shippers more quickly and proactively identify potential detention and demurrage fees; prioritize exceptions according to likely business impact; and proactively adjust carriers, lanes or other factors as necessary.
  
  • “FourKites’ automated reporting and tracking for ocean provides more accurate and real-time data, which allows Canfor to respond to customer inquiries quicker with up-to-date information on our upcoming shipments that would have otherwise had to be manually tracked.” — Bob Hayes, Vice President of Global Supply Chain at Canfor
• Patented ocean shipment innovations that provide international shippers and their partners with complete visibility into all of the complex documentation requirements at every leg of every ocean shipment. 
• A Net Zero initiative to help companies reduce supply chain emissions, including FourKites’ Sustainability Hub, a suite of analytics tools to provide better visibility into resource consumption and waste generation; a new Sustainability Advisory Board; and ongoing original research around sustainability.
  
  • “To track emissions and to evaluate how we’re performing — it all relies on data. And that’s a place where we’ve been thrilled with our partnership with FourKites, because without it, we would not have the critical data we need to operate well.” — Karen Betancourt, Vice President of Logistics at Cardinal Health
• A new unified customer interface that integrates real-time transportation visibility and facility-specific data across all modes.
  
  • “FourKites continues to excel and impress me with their ability to deliver tools that are useful and support our account in a way that is customer first. In working with them, they have been able to roll out coverage in multiple countries, manage the work, and enhance their tool along the way. I’m very impressed with their product and the agility in delivery.” — Logistics Strategy Analyst, Manufacturing
    

"In the past year, we worked closely with our community of supply chain leaders and partners to introduce valuable solutions and insights to better manage inventory, drive efficiencies in supplier ecosystems, streamline international shipments, improve sustainability — and so much more," said FourKites founder and CEO Mathew Elenjickal. "In 2023, we look forward to helping our customers take the next leap forward in their logistics operations, expanding their insight further into their network and at the SKU level. Together, we will build a more resilient and agile supply chain."

About FourKites
Leading supply chain visibility platform FourKites^® extends visibility beyond transportation into yards, warehouses, stores and beyond. Tracking more than 3 million shipments daily across road, rail, ocean, air, parcel and last mile, and reaching over 200 countries and territories, FourKites combines real-time data and powerful machine learning to help companies digitize their end-to-end supply chains. More than 1,200 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/. 

Media Contact: 
Marianna Vyridi 
Big Valley Marketing for FourKites 
(650) 468-3263 
[email protected]

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/700818f3-62cc-4f36-8f0e-28b5b2144ac5

¹ Gartner, Critical Capabilities for Real-Time Transportation Visibility Platforms, Carly West, 24 May 2022.