AUSTIN, Texas--(BUSINESS WIRE)--Overhaul, a transportation security technology company delivering risk management solutions geared to shippers of premium cargo, announced today the completion of a $4.5M Series Seed financing. The leading investor in the round is Abbey International Finance Group, a privately-owned group with a long standing presence and strong interest in the US transportation industry. Funding will accelerate critical device integrations for Overhaul’s active risk management solution, Sentinel, in which relevant data from available monitoring and management technologies is brought together to detect and correct non-compliance behaviors in real-time.
In today’s supply chain, visibility is available via fleet telematics, cargo sensors, and other methods, but the challenge lies in what benefit various levels of visibility can offer if data sources are disconnected and it takes human interaction to determine risk. Overhaul takes advantage of existing data feeds, layering a proprietary workflow management mechanism to create a more actionable & informed interface for multiple user types, including logistics, security and operations. “Overhaul is committed to bringing an intelligent software system that automatically integrates disparate data streams into a single unified view allowing shippers the ability to analyze and respond appropriately to prevent or address risky situations as they occur,” said Barry Conlon, CEO and co-founder of Overhaul. He continues, "We are extremely grateful to have the support of an investor who shares in our vision to digitize the supply chain and will act as partners in the delivery of our robust product roadmap."
“We are pleased to partner with the team at Overhaul,” remarks John Prosser, Managing Director at Abbey International Finance. “We have a very strong relationship and proven track record in prior ventures with Overhaul’s founder, Barry Conlon, and are committed to supporting Mr. Conlon in realizing the vision for this latest endeavor to become an innovative leader in transportation,” Prosser adds.
Overhaul’s technology is patent-pending with 2 US patent applications and has been classified by key individuals in the market as “game changing” and “clearly disruptive.”
Launched in 2016, Austin-based tech startup Overhaul provides premium shippers unique visibility and full confidence their cargo is in reliable hands, while giving brokerage and 3PLs the right tools to guarantee safe, on-time delivery and grow their business. Overhaul is building trust, ensuring premium load safety, driving costs down and removing roadblocks from within the transportation industry.
www.over-haul.com | @overhaulinc
About Abbey International Finance Group
Abbey is a privately-owned group registered and located in Ireland, that provides niche financial solutions to a variety of business sectors. Abbey operates through three commercial divisions: leasing, insurance, and private equity real estate and has offices/affiliates in Dublin, Paris, London, Austin-Texas and Malta. Abbey was founded in 1990 and has grown successfully to have a current net worth in excess of US$ 150 million, affording the company a solid base for further expansion, in the years ahead.
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