Chain.io Secures $5M Funding Round for Cloud-Based Supply Chain Integration
PHILADELPHIA, April 16, 2021 — Chain.io, a cloud-based supply chain integration platform that connects the industry’s best-in-class tools and trading partners to create data visibility across systems, announced today that the company has completed a $5 million funding round, led by Grand Ventures and Mercury. Also participating are Honeywell Ventures and Engage.
“We will be immediately deploying this capital to help expand our world-class supply chain integration network and help our customers develop their digital nervous systems throughout their extended supply chain,” said Brian Glick, founder and chief executive officer, Chain.io.
Chain.io’s integration network processes over 100 million data transformations a month, including data from 10 out of the top 15 largest freight forwarders in the world and has doubled in size over the last year.
“As we’ve all seen over the past year, supply chains are core to both our individual lives and the global economy,” said Tim Streit, co-founder and managing partner, Grand Ventures. “When we met the Chain.io team we quickly understood that they’ve built a network that will transform the industry from the inside out.”
Kamal Vasagiri of Honeywell Ventures, explained, “We believe that the future of the supply chain lies in rapid and resilient information sharing. We are excited to support Chain.io in realizing that vision.”
The round comes on the heels of a banner 2020 year for Chain.io which saw the company triple its revenue base, increase its customer count by over 50% and add key industry integrations with systems such as Cargowise, Blujay, Magaya, Portrix, WebCargo, Terminal 49, and more.
Chain.io delivers smarter and faster data integration using a cutting-edge supply chain connectivity platform. The fully managed integration services allow Logistics Service Providers, Shippers, and Technology Firms to work together more efficiently under one umbrella. Specialties include connecting modern APIs to legacy EDIs, as well as complex client integration. For more information, please visit www.chain.io.