Quincus, an enterprise SaaS firm, has successfully closed an undisclosed Series B fundraise. The Series B investment puts the company’s valuation to well over $100 million.
The investment round is led by UP.Partners, a US-based electrification and mobility fund, and with the participation from existing investor GGV Capital, a global venture capital firm that manages $9.2 billion in capital and is an investor in well-known tech and industry giants including Airbnb, Alibaba, Grab, and Slack.
Since its founding in 2014 by Jonathan Savoir and Katherina-Olivia Lacey, Quincus has been working closely with a number of household e-commerce, logistics, and airline brands to solve their supply chain problems globally. Fresh funding allows Quincus to accelerate its growth trajectory by investing significantly toward market expansion and technology development.
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The new investment round follows just nine months after Quincus closed its Series A round in January 2021, led by GGV Capital, Masik Enterprises, and Aletra Capital Partners. Since the beginning of 2021, Quincus has seen a 600% growth in shipments across 48 countries. The company said it continues to see traction in terms of people, customers, and gross transaction volumes. The company now transacts over 70 million shipments per month while analyzing over 1.4 quadrillion data points.
Expansion
Quincus is headquartered in Singapore, with a global presence across Indonesia, Malaysia, Mexico, Taiwan, Vietnam, UAE, the United States, and the United Kingdom. It is looking to grow its team to over 400 people to support its operations in its newly launched offices across Canada and the Middle East by the end of the year. The company also looks to expand into new markets across the Americas, South Korea, and Japan by 2022.
Quincus is an Enterprise SaaS platform that helps solve logistics problems for logistics providers, e-commerce, airlines, freight, and household brands worldwide.
Around technology investment, Quincus will further enhance its multi-mile offerings by strengthening its real-time visibility and machine learning optimization platforms. This will help create a more robust and connected supply chain ecosystem that will allow carriers, airlines, and supply chain operators to optimize and transport their shipments across multi-modal networks throughout the first, mid, and last-mile.
Supply chain
Currently, Quincus’ customers leverage its platform’s machine learning capabilities to analyze and process 160 million businesses and its 1.4 quadrillion global routes on supercomputers. Quincus’ platform can provide real-time updates around supply chain disruptions, allowing its customers to make crucial decisions around the movement of goods and ensure the best way forward.
Using Quincus’ highly configurable and modular technology, companies can automate manual tasks, maximize resources across supply chains, and build business resilience to thrive.