FarEye, a forum for managing end-to-end global distribution, has raised $100 million in a series-E funding round led by TCV and Dragoneer Investment Group.
Eight Roads Projects, Fundamentum, and Honeywell joined in the round as well.
According to a corporate release, the funds would be used to accelerate the company’s vision of encouraging brands to offer Amazon Prime-like distribution experiences and redefining how goods are shipped across complex logistics networks.
FarEye will continue to concentrate on developing its tech platform capability, extending into Europe and North America, and attracting world-class talent.
GopiVaddi, General Partner at TCV, will join FarEye’s board of directors as part of the deal.
FarEye, established in 2013 by Kushal Nahata, Gaurav Srivastava, and Gautam Kumar, is a multibillion-dollar distribution management company that continues to expand at a double-digit rate year over year.
“The funding is extremely timely for the distribution and logistics market, as shoppers would spend $861 billion digitally with US merchants in 2020, up 44% from $598 billion in 2019.”
The development and digital transformation of the logistics industry have provided an incentive for tech solutions like FarEye to provide an exceptional customer experience, Nahata added.