Quincus, an enterprise SaaS leader in solving global supply chain challenges, has announced that it has successfully closed an undisclosed Series B fundraise. The Series B investment catapults the company’s valuation well over US$100 million. The investment round is led by UP.Partners – a US-based electrification and mobility fund, with participation from existing investor GGV Capital, a leading global venture capital firm that manages US$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 E. Savoir and Katherina-Olivia Lacey, Quincus has been working closely with several 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 towards market expansion and technology development. 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 percent growth in shipments across 48 countries. Quincus continues to see impressive 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.
Quincus is headquartered in Singapore, with a global presence across Indonesia, Malaysia, Mexico, Taiwan, Vietnam, UAE, the US, and the UK. 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. 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.