April 12, 2017
Gravity Supply Chain Raises $2.5m For Its Real Time B2B Supply Chain And Logistics Visibility Platform
HONG KONG – April 12, 2017 – Gravity Supply Chain, the developer of a cloud-based supply chain and logistics visibility platform, announced it has raised an additional $2.5 million (USD) in a new round of funding. The company will use the funds to expand its existing suite of applications, and help accelerate revenue and customer growth in key target markets.
Founded in 2014 in Hong Kong by CEO Graham Parker and COO Darren Palfrey, Gravity has to date raised a total of $7.5 million (USD) from a select group of investors.
Retail, e-commerce, consumer products and logistics companies, including some of the world’s most innovative businesses, use Gravity’s suite of applications to achieve real-time visibility over their entire end-to-end global supply chains.
With representation in Hong Kong, Singapore, Australia and South Africa, the new funding round will enable Gravity to continue growing its sales and marketing presence in existing and new markets globally, particularly in North America.
In fact, the company will open its first U.S. office in Chicago in June 2017. It will also expand its Technical and Customer Success Teams to service its growing number of clients, including companies such as Tigers Global Logistics, a $1+billion global logistics and transportation provider, which has an extensive client base across North America.
Research company Gartner reports that supply chain visibility and intelligence solutions are the fastest growing supply chain technology segments, and forecasts the deployment of these types of software applications will increase 50 percent by 2018.
“This milestone will help accelerate our phenomenal growth and development. Together with the full suite of applications, Gravity bridges the ‘IT gap’ that plagues importers, shippers and logistics service providers by preventing them from having end-to-end real-time visibility and business intelligence. Our application of big data and predictive analytics take the guesswork out of supply chain planning and management. We were named as one of Asia’s Top Logistics Tech providers recently, and we want to leverage this position and the work achieved to-date.”
For more information, please visit www.gravitysupplychain.com.
About Gravity Supply Chain
Gravity Supply Chain provides managers with real-time visibility over their global end-to-end supply chains so they can be more proactive and effective in reducing costs and identifying issues that will impact customer service levels. Gravity accelerates and streamlines the collection, analysis and sharing of real-time data to improve collaboration and decision-making among all supply chain partners anytime, anywhere. Gravity’s unique magNET-T™ serves as the foundation for its suite of modular apps. MagNET-T™ uses Web APIs, AI Bots and proprietary algorithms to unlock and gather data scattered across not just an organisation’s immediate supply chain, but throughout the multiple tiers that support it. It also collects what is happening out in the world – including the latest weather, labour strikes, the impact of natural disasters, providing instant awareness of potential supply chain disruption.