Dublin firm Overhaul raises $7m in funding
THE Dublin-based supply chain solutions provider Overhaul has secured $7m (€6.2m) in funding, backed by what it said is a "strategic food industry investor".
It did not name the backer, but said that existing investor, Dublin firm Abbey International Finance, has also participated in the funding round.
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Overhaul, established by Dubliner Barry Conlon in 2015, said it will use the funds to support continued large-scale growth with high-calibre shippers, as well as investing in its supply chain technology.
Its clients include companies in a range of sectors, from pharmaceuticals to electronics.
Mr Conlon was previously the chief executive of Texas-based Freightwatch, which he sold in 2012 to United Technologies.
He was subsequently a managing partner with Blackrock Consulting for four years.
Mr Conlon also served with the Defence Forces for 11 years, and was a member of its elite Army Ranger Wing. "We have ambitious plans for growth and are excited to have a distinguished partner that can help execute our vision for 2019 and beyond," said Mr Conlon after receiving the fresh investment.
Overhaul's technology enables shippers to connect different sources of data to provide a situational analysis that can trigger corrective actions from temperature control to handling requirements.
Overhaul completed two previous funding rounds, in which Abbey International Finance was a primary investor. Abbey is headed by John Prosser and has net assets totalling more than $150m.