FourKites gets $13 million in additional funding
Logistics-software maker FourKites just tracked down $13 million in fresh capital.
FourKites was launched three years ago by Mathew Elenjickal, who was getting his MBA at Northwestern University's Kellogg School of Management. The company's software is on electronic devices inside trucks that companies now are required to install to monitor how much time drivers are behind the wheel. FourKites' software allows companies to track shipments from the warehouse to their final destinations.
The company has
grown to 40 people, from a dozen a year ago. Elenjickal plans to hire another 100 workers in the next year, especially in support and operations, to handle an influx of customers. Elenjickal recently hired a new chief operating officer, Stephanie Kolaczynski, from San Francisco-based Zenefits.
Chicago is a hotbed of logistics companies, such as CH Robinson, Echo Global Logistics and Coyote Logistics, as well as related tech companies, such as Project44.
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