ClearMetal has received an additional $15 million in funding in a round led by Palo Alto-based Eclipse Ventures, making the total capital invested in the company more than $31 million. The funding enables the further development of ClearMetal's CDX Platform, which learns, adjusts and gets smarter to drive constant improvement in delivery and experience for customers.
Additional investors include Prelude Ventures, Innovation Endeavors, NEA, SAP.io, Prologis, PSA Unboxed, DCLI and the founders of GT Nexus, Navis and Uber Freight.
“ClearMetal is leading the development of a truly intelligent supply chain solution in global freight transportation,” says Lior Susan, Founding Partner of Eclipse Ventures. “The only way to solve an evolving supply chain is with a continuous methodology, and ClearMetal is the leading company at enabling the world’s largest retailers and manufacturers with differentiated product delivery and customer experience.”
While most supply chain software uses a static visibility approach to solve a continuously evolving supply chain, the merging category of CDX focuses on enabling companies to deliver their products on time and continuously improve upon their existing delivery processes. The ClearMetal CDX Platform uses proprietary machine learning with multiple patents pending to cross-reference inputs and enrich supply chain data. This draws out hidden patterns, enabling users to make smart business decisions based on up-to-date, trustworthy information.
“With this infusion of capital and the additions to our leadership team, we are primed to help level the logistics playing field with CDX in 2020. The world needs a CDX platform now more than ever. The global supply chain is suffering from billions of dollars of inefficiency as a result of not having the intelligence needed to handle the scope and complexity of today’s data,” says Adam Compain, CEO of ClearMetal. “As pioneers in CDX technology we are situated clearly on the industry’s leader board and look forward to continuing to help some of the world’s top companies drive greater profitability in the supply chain.”