CHICAGO, April 19, 2021 (GLOBE NEWSWIRE) — FourKites, the #1 real-time supply chain visibility platform, today announced that it was named a Leader in the 2021 Gartner Magic Quadrant for Real-Time Transportation Visibility Platforms1. Out of 14 vendors evaluated, FourKites was the only company positioned in the Leaders quadrant with the highest Completeness of Vision.
FourKites® pioneered real-time transportation visibility in 2014, and is now leading the industry into a new era where global supply chains are powered and optimized by real-time visibility data and machine learning. Recognized as a “company of firsts,” FourKites delivered more than 120 new products and features in 2020 alone, including a number of industry-firsts such as multimodal end-to-end purchase order tracking; Appointment ManagerSM, an automated appointment scheduling platform for facilities, shippers and carriers; a new software category — Dynamic Yard® — that extends visibility into warehouses and yards; and Dynamic OceanSM, a next-generation international ocean visibility solution that encompasses advanced document management capabilities, robust collaboration features and support for bookings, with superior end-to-end real-time tracking.
Through its recent $100 million Series D financing round, led by Thomas H. Lee Partners, L.P., with strategic investors including Qualcomm Ventures, LLC, Volvo Group Venture Capital AB and Zebra Technologies, FourKites is now poised to fuel a broader vision for the future of digital supply chains — one that connects the physical and digital worlds of warehouses, stores and transportation to enable true end-to-end visibility and unlock tremendous value for the entire ecosystem fueling even greater automation and collaboration.
“FourKites’ recognition as a Leader in the Gartner Magic Quadrant follows a year of record growth, momentum and technological innovation, driven in close collaboration with customers,” said Mathew Elenjickal, founder and CEO of FourKites. “This is a testament to the value we continue to bring to our customers, and recognition of our vision for the future of supply chain management and automation — one that focuses on eliminating barriers across supply chains and delivering true, end-to-end global supply chain visibility.”
Collaboration with the world’s largest shippers continues to play a critical part in FourKites’ technology roadmap, as together with its customers FourKites innovates and delivers solutions that address the industry’s most pressing needs. In the last year alone, FourKites released the industry’s first end-to-end purchase order lifecycle tracking solution, which was developed in conjunction with Meijer, one of the largest food retailers and wholesalers in the country. In addition, FourKites partnered with Cardinal Health to build a cognitive supply chain and serve as the company’s central data hub to create a fast, reliable and frictionless experience for the 29,000 pharmacies and nearly 90 percent of American hospitals that depend upon Cardinal Health for critical supplies.
“Delivery of healthcare products directly impacts patients, and ensuring these products reach their destinations on time and in full has never been more critical. This type of transparency helps build trust in the connection between the Cardinal Health supply chain and our customers,” said Sean Halligan, Senior Vice President of Pharmaceutical Operations at Cardinal Health. “By partnering with FourKites, we will have end-to-end visibility to see products in transit and make any necessary adjustments to provide a frictionless experience to our customers everywhere and help them better serve their patients.”
Today, the FourKites platform tracks more than 2 million shipments per day for some of the world’s largest companies including Coca-Cola, Dow, Eastman, PetSmart, The Michaels Companies, Land O’Lakes, AB InBev, Constellation Brands and 3M. FourKites saw demand for its superior network of logistics tracking data and proprietary machine learning technology surge in 2020, as evidenced by record global growth in new shipping customers across all major verticals. In 2020, FourKites saw:
- Greater than 100% growth in total shipment volumes, including ocean load growth of 149%, and rail and intermodal growth of 49%.
- International load volume growth of 200%, including a 400%+ increase in tracked loads in EMEA and 95%+ growth in LATAM.
- 67% increase in carriers onboarded, with more than 350 carriers, brokers and 3PLs qualifying as Premier Carriers.
- 63% increase in the number of drivers — now totaling 377,000 individuals — using its CarrierLink mobile app.
- Greater than 70% growth in connected facilities, now totaling over 6 million individual facilities.
The Gartner report also highlighted FourKites’ strong customer presence across key verticals, including food and beverage, consumer packaged goods, chemicals, manufacturing, paper and packaging, pharmaceuticals and retail as one of the key strengths that helps us qualify as a partner of choice. FourKites works with more enterprise companies valued at over $1 billion than any other vendor in the Magic Quadrant, and the company has received the highest volume of four and five-star reviews on Gartner Peer Insights (specifically, of 96 reviews as of April 19, 2021, 97% are four- and five-star ratings), a platform for public peer reviews on solutions.
What customers are saying on Gartner Peer Insights:
- “The visibility platform’s multimodal global capabilities enables our organization to have a single pane of glass across the globe. This coupled with FourKites customer-focused product roadmap makes our organization comfortable with the abilities in place today and excited about the future potential.” – Supply Chain Architect in Manufacturing
- “The product is a game-changer in that we now can tell where our client’s freight is at any time. In the past, we had to rely on our carriers to communicate via phone/email these updates which is way too manual. For our clients, they expect us to be proactive and FourKites gives us that capability.” – Sourcing, Procurement & Vendor Management in Transportation
- “We are finding great value in letting the FourKites system do the work behind the scenes. FourKites allows our business to focus on value-added processes and alert them to only desired urgent issues.” – Supply Chain Manager in Manufacturing
Gartner Disclaimer:
Gartner does not endorse any vendor, product or service depicted in our research publications, and does not advise technology users to select only those vendors with the highest ratings or other designation. Gartner research publications consist of the opinions of Gartner’s research organization and should not be construed as statements of fact. Gartner disclaims all warranties, expressed or implied, with respect to this research, including any warranties of merchantability or fitness for a particular purpose.
About FourKites
FourKites® is the #1 supply chain visibility platform in the world, extending visibility beyond transportation into yards, warehouses, stores and beyond. Tracking more than 2 million shipments daily across road, rail, ocean, air, parcel and courier, and reaching 176 countries, FourKites combines real-time data and powerful machine learning to help companies digitize their end-to-end supply chains. More than 500 of the world’s most recognized brands — including half of the Fortune 500, 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 about FourKites, visit https://www.fourkites.com.
Media Contact:
Marianna Vyridi
Big Valley Marketing for FourKites
(650) 468-3263
mvyridi@bigvalley.co
1 Gartner, “Magic Quadrant for Real-Time Transportation Visibility Platforms,” Bart De Muynck, Carly West, 14 April 2021.
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/b24fd939-0d4c-42ed-b1d5-61cc8dbf9adf
