SAN FRANCISCO — ClearMetal, a developer of Supply Chain and Logistics solutions, 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 to date more than $31 million. The funding will help the development of ClearMetal’s CDX Platform, which continually 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,” said 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.”
ClearMetal, reported 400 percent revenue growth in 2019 year-over-year and signed up numerous Global 1000 industrial clients and consumer product firms. The company also doubled the size of its workforce during that same time period. ClearMetal also opened expanded company headquarters in San Francisco, hosting an entire floor in the city’s Financial District, and added offices in New York, Chicago, Houston, London and Switzerland. ClearMetal has customers on four continents.
Most supply chain software uses a static visibility approach to solve a continuously evolving supply chain. This results in hundreds of millions of dollars in losses due to reduced revenue, increased costs and inefficient cash flow. Customer expectations of both delivery and experience have never been higher. The emerging category of CDX focuses on enabling companies to deliver their products on time and continuously improve upon their existing delivery processes — as well as giving customers an “Amazon-like” digital experience in the global freight transportation space. 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,” said 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.”