Skip to content
Search AI Powered

Latest Stories

Avetta expands supply chain risk management tools into Australia

Utah company leverages venture capital backing to acquire Pegasus.

avetta-Screen-Shot-2021-07-19-at-1.54.03-PM.png

The venture capital-backed tech firm Avetta will expand the market for its supply chain risk management software tools into Australia and New Zealand, having won regulatory approval today for its takeover of a local firm.

Orem, Utah-based Avetta will acquire Newcastle, New South Wales, Australia-based Pegasus, which provides worker competency management software and services.


Terms of the deal—which was first announced in May—were not disclosed, but the companies said that Pegasus CEO Adam Boyle will join the investment firm Accel-KKR as “equity investors” in Avetta. In addition to those stakes, the company is majority-owned by the private equity firm Welsh, Carson, Anderson & Stowe with additional investments from Technology Crossover Ventures and Norwest Venture Partners.

The move marks the latest logistics tech investment by Accel-KKR, which in May acquired fleet management software vendor GPS Insight and announced plans to merge it with two other transportation technology firms it already owned; InSight Mobile Data (IMD) and Rhino Fleet Tracking. Also, Accel-KKR in 2020 bought logistics connectivity provider TrueCommerce, the yard management software vendor Pinc Solutions, rail industry software solution provider RailcarRx, and the transportation management system (TMS) software vendors ShipperConnect and ShipXpress.

According to Avetta, the new combination will create the sector’s largest provider of supply chain risk management and compliance solutions, with nearly 170,000 suppliers and 4 million managed workers.

Avetta says its technology platform helps companies manage risk and build resilience in their supply chains – from increasing visibility within the network to ensuring safety and sustainability. The company also provides suppliers and contractors with discounts on insurance and safety-related products and services. With Pegasus technology, Avetta says it also now offers worker competency management, induction and learning management, supplier prequalification, site access, and asset management.

The Latest

More Stories

Trucking industry experiences record-high congestion costs

Trucking industry experiences record-high congestion costs

Congestion on U.S. highways is costing the trucking industry big, according to research from the American Transportation Research Institute (ATRI), released today.

The group found that traffic congestion on U.S. highways added $108.8 billion in costs to the trucking industry in 2022, a record high. The information comes from ATRI’s Cost of Congestion study, which is part of the organization’s ongoing highway performance measurement research.

Keep ReadingShow less

Featured

From pingpong diplomacy to supply chain diplomacy?

There’s a photo from 1971 that John Kent, professor of supply chain management at the University of Arkansas, likes to show. It’s of a shaggy-haired 18-year-old named Glenn Cowan grinning at three-time world table tennis champion Zhuang Zedong, while holding a silk tapestry Zhuang had just given him. Cowan was a member of the U.S. table tennis team who participated in the 1971 World Table Tennis Championships in Nagoya, Japan. Story has it that one morning, he overslept and missed his bus to the tournament and had to hitch a ride with the Chinese national team and met and connected with Zhuang.

Cowan and Zhuang’s interaction led to an invitation for the U.S. team to visit China. At the time, the two countries were just beginning to emerge from a 20-year period of decidedly frosty relations, strict travel bans, and trade restrictions. The highly publicized trip signaled a willingness on both sides to renew relations and launched the term “pingpong diplomacy.”

Keep ReadingShow less
forklift driving through warehouse

Hyster-Yale to expand domestic manufacturing

Hyster-Yale Materials Handling today announced its plans to fulfill the domestic manufacturing requirements of the Build America, Buy America (BABA) Act for certain portions of its lineup of forklift trucks and container handling equipment.

That means the Greenville, North Carolina-based company now plans to expand its existing American manufacturing with a targeted set of high-capacity models, including electric options, that align with the needs of infrastructure projects subject to BABA requirements. The company’s plans include determining the optimal production location in the United States, strategically expanding sourcing agreements to meet local material requirements, and further developing electric power options for high-capacity equipment.

Keep ReadingShow less
map of truck routes in US

California moves a step closer to requiring EV sales only by 2035

Federal regulators today gave California a green light to tackle the remaining steps to finalize its plan to gradually shift new car sales in the state by 2035 to only zero-emissions models — meaning battery-electric, hydrogen fuel cell, and plug-in hybrid cars — known as the Advanced Clean Cars II Rule.

In a separate move, the U.S. Environmental Protection Agency (EPA) also gave its approval for the state to advance its Heavy-Duty Omnibus Rule, which is crafted to significantly reduce smog-forming nitrogen oxide (NOx) emissions from new heavy-duty, diesel-powered trucks.

Keep ReadingShow less
screenshots for starboard trade software

Canadian startup gains $5.5 million for AI-based global trade platform

A Canadian startup that provides AI-powered logistics solutions has gained $5.5 million in seed funding to support its concept of creating a digital platform for global trade, according to Toronto-based Starboard.

The round was led by Eclipse, with participation from previous backers Garuda Ventures and Everywhere Ventures. The firm says it will use its new backing to expand its engineering team in Toronto and accelerate its AI-driven product development to simplify supply chain complexities.

Keep ReadingShow less