Startup News: Tive secures $12 million in funding

Tive, Inc., a leading provider of global supply chain visibility insights, announced today that it secured a $12 million Series A funding round from RRE Ventures, followed by Two Sigma Ventures, with participation from existing investors NextView Ventures, Hyperplane Ventures, One Way Ventures, Fathom Ventures, and others. The new investment will fuel Tive’s rapid growth and drive product innovation for shipment tracking, alerts and analytics.

Shipment tracking is complicated, unreliable and expensive, according to Tive. The vendor is seeking to change that by providing real-time visibility into the entire shipment process, including accurate location data and condition insights such as temperature, shock, light exposure and humidity. Tive offers what it calls the industry’s first 5G-ready single-use tracker. Customer adoption is on the rise with a 570% growth in annual revenue, driven in part by the delivery of the first non-lithium powered tracker to address the market’s concerns over lithium-Ion safety and environmental impact, according to the company.

“Given the growing demand for Tive’s full line of tracking solutions, it was obvious that now was the time to dramatically expand our ability to meet industry demand,” said Krenar Komoni, CEO at Tive, Inc. “Gaining the support of RRE Ventures and Two Sigma Ventures, as well as our current valued investors, means we can leverage their expertise and focus on growing our customer-centric platform. The infusion of growth capital means bringing products to market faster, enhancing our sales and marketing efforts, adding key leadership, and growing our international presence.”