Freight security firm lands $10m
I’ve been keeping tabs on Freightwatch International, as it addresses what seems to be an increasing problem with shipping robberies and the growing importance of the supply chain in general.
Well, someone else must think they’re in the right biz, as the company announced today a $10 million investment from Bridge Investments:
“Supply chain security is not only an issue of corporate security, but it is also increasingly seen as a consumer safety issue, especially with stolen and counterfeit pharmaceuticals,” stated Jeremy Kroll, an investor in FreightWatch and President of K2 Global Partners, a risk consultancy and investigations firm based in New York. “Ultimately, insurance carriers will require more companies to reduce loss from cargo theft.”
I’ve got a call in to talk more about it.