Austin-based Overhaul, which makes software-based physical supply chain visibility and compliance management solutions, today announced that it has raised $73 million in new funding to expand its operations globally.

Edison Partners led the Series B round for $38 million with participation from eGateway Capital, StepStone Group and TRM Ventures. In addition, Stifel Bank provided $35 million in additional debt financing to the round. This funding brings the total raised by the company to about $100 million.

Overhaul’s solutions provide deep visibility into moving cargo by tapping into existing infrastructure data to provide risk management and prevention capabilities and a real-time view of the supply chain. According to the company the solutions were designed by logistics experts who already have deep knowledge of supply chains, which sets them apart from other solutions.

The company taps into machine learning and artificial intelligence capabilities to pull from in-transit telemetry and other data about what’s happening in the field. As a result, potential anomalies can be detected more quickly. This level of monitoring means that if something goes awry, or is about to go wrong, corrective action can be taken swiftly, from having someone check in on a refrigeration truck that is getting too warm, or calling law enforcement.

Overhaul claims said it expects to track more than $1 trillion in total moving cargo this year alone. With its solutions, companies can expect a reduction in their insurance costs as well because of reduced shipment loss ratios, with over 80% loss reductions and a 96% recovery rate, the company says. Although the exact dollar amounts for cargo thefts are unknown, the FBI estimates that between $3.5 billion and $10 billion worth of cargo is stolen every year across the U.S. alone.

“Our U.S. customers receive exponential savings of up to 60% to 65% reduction in in-transit cargo insurance costs, and we expect even higher savings in other regions of the world,” said David Broe, chief operating officer of Overhaul. “Our combined visibility plus risk management technology offering together with our participation on the insurance transaction positions us in a unique tier of the market.”

In February, Overhaul acquired SensiGuard from Sensitech Inc., a Boston-based global solutions provider for supply chain security risks, which gave the company an expanded global reach with offices in Brazil, Mexico and the Czech Republic. It also doubled the size of Overhaul’s team by raising the company’s headcount to nearly 650 employees.

“This latest growth financing positions Overhaul to be a frontrunner as a profitable business in real-time visibility and risk management with a fraction of capital but at a similar scale to unicorns in the space,” said Barry Conlon, founder and chief executive of Overhaul. “The funding is also a validation of Overhaul’s commitment to transforming supply chain visibility and risk management and our strategy in the fluctuating LogTech market.”

With the new funding, the company will continue to push further research and development of its products, work to expand globally, fund outreach to customers and complete the acquisition of SensiGuard.

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