Project44 buys a customs data startup for $48 million, its fourth acquisition in eighteen months
The target files roughly 40,000 US entries a month, which buys visibility into clearance timing nobody else sells.
CHICAGO — Project44 has acquired a customs data startup for $48 million in cash and stock, its fourth acquisition in eighteen months.
The value is in the filings. The target handles roughly 40,000 US entries a month, which gives it a real-time read on clearance timing by port and commodity that no visibility platform currently sells.
Whether customers will pay for it separately is the open question. Two shippers said clearance timing was already in their broker's portal, for free.
Ellis Duarte
Covers detention and demurrage disputes and East Coast terminals.Ellis covers detention and demurrage disputes, East Coast terminals and the drayage markets around them.