Finsmes: Quincus Raises Series B Funding; Valued at Over US$100M
Quincus, a Singapore-based provider of an enterprise class global supply chain management platform, closed an undisclosed Series B fundraise at a valuation of over US$100m.
The round was led by UP.Partners – a US-based electrification and mobility fund, with participation from existing investor GGV Capital.
The company intends to use the funds to grow its team to over 400 people, invest in market expansion across the Americas, South Korea, and Japan by 2022, and technology development.
Founded in 2014 by Jonathan E. Savoir and Katherina-Olivia Lacey, Quincus is an Enterprise SaaS platform to solve logistics problems for logistics providers, e-commerce, airlines, freight, and household brands worldwide. Using its configurable and modular technology, companies can automate manual tasks, maximize resources across supply chains, and build business resilience.
The company, which says it now transacts over 70 million shipments per month while analyzing over 1.4 quadrillion data points, is headquartered in Singapore, with a global presence across Indonesia, Malaysia, Mexico, Taiwan, Vietnam, UAE, the US, and the UK. To support its growth, they will open offices across Canada and the Middle East by the end of the year.
Around technology investment, Quincus will further enhance its multi-mile offerings by strengthening its real-time visibility and machine learning optimization platforms.