Logistics and supply chain management is more critical than ever in a world that is increasingly becoming borderless. Achieving speed and efficiency requires timely collaboration, visibility and total control of the logistics operation.
FarEye is an Intelligent Delivery Management SaaS Platform headquartered in Chicago, US, with offices in key regions worldwide, including its European regional office in London. FarEye was founded in 2013 and received its first funding in 2014. Since, FarEye has received roughly $150m in funding across five rounds, with the last round raising $100m. The company has more than 750 employees, 150 customers (33 in EMEA), and conducts over 10 million transactions each day in over 30 countries. FarEye offers a robust network of pre-integrated last-mile carriers, including over 135 CEP in the EMEA region alone.
FarEye provides one of the strongest networks of FTL carriers in Asia, and is fast-growing in EMEA and North America. The Intelligent Management Platform is currently integrated with over 2 million networks of vehicles through telematics integrations with OEM fitted devices. The Intelligent Delivery Visibility product has been recently recognised as a challenger in the 2021 Gartner Magic Quadrant for Real-Time Transportation Visibility Platforms.
In the European market, FarEye is aiming at the growing sectors of retail, big & bulky, e-commerce, CPG, logistics & 3PL, quick-serve restaurant and grocery delivery by bringing the most effective technology solutions to all its customers. FarEye says its unique and innovative solutions, built with a robust technology framework, helps companies streamline their operations and deliver a superior customer experience in a European market that is dealing with driver shortages and a fragmented logistics market.
FarEye says it solves these challenges through its intelligent delivery platform that is flexible, configurable, and
agile. The platform is designed to provide predictive visibility and orchestration for the first, middle and final mile of the supply chain. FarEye plans and executes operations across the entire supply chain, through a single pane of glass, while providing data-driven insights to its customers that enable them to optimise their operations. All of this is conducted on a low-code interface that integrates seamlessly with its customers.
FarEye’s low-code approach provides an environment to develop applications with a quick turnaround and minimal code to shorten the “concept-to-ship” cycle. FarEye uses a microservices/API model to develop a scalable SaaS platform with a global footprint. Intelligence is brought into the platform through Artificial Intelligence and Machine Learning technologies. This algorithmic approach to areas like dynamic routing and loop optimisation delivers tangible benefits to customers and their end consumers.
FarEye has supported some of the most recognisable brands across Europe over the last 12 months, fueling triple-digit growth in the last 12 months. The company looks to duplicate this over the next 12 months as FarEye continues to expand its presence and focus into Europe.