Tive leads the way as end-to-end, real-time visibility solutions become table stakes for shippers and logistics professionals around the world
BOSTON, Jan. 25, 2023 /PRNewswire/ -- Tive, the global leader in supply chain and logistics visibility technology, today announced exceptional growth in 2022 as the company continues their quest to provide critical end-to-end supply chain visibility to all global shippers—as well as to their end customers.
Tive celebrates the following 2022 milestones and accomplishments:
- Reported 80% YoY revenue growth
- Added more than 250 new customers from across the globe
- Achieved 75% YoY growth on number of trackers shipped
- Deployed hundreds of thousands of Tive Tags to support day-to-day customer cold chain operations
- Collected its one billionth data point—with more than 700 million data points collected in 2022 alone
- Continued high-velocity innovation, adding one new patent and releasing more than 40 new software features
- Achieved SOC 2 Type 2 and ISO/IEC 27001:2013 certification
"Tive customers move goods throughout the globe—powering our economy and our daily lives," says Krenar Komoni, CEO & Founder of Tive. "Tive is focused on demonstrating operating leverage, and providing a simple way for shippers and logistics service providers to monitor their shipments—in real time—and in a collaborative way with all stakeholders involved in moving those goods at the container, pallet, and item level."
In April, Tive raised $54M in Series B funding, led by AXA Venture Partners with participation from Sorenson Capital, Qualcomm Ventures, Fifth Wall, SJF Ventures, and Floating Point Ventures as well as existing investors RRE Ventures, Two Sigma Ventures, NextView Ventures, Hyperplane Ventures, Broom Ventures, and Supply Chain Ventures.
This investment is continuing to fuel Tive's rapidly-growing global customer base, accelerating the development and introduction of next-generation solutions, and enabling the company to bring actionable supply chain intelligence and 24/7 monitoring services to the market.
In July 2022, the company introduced the revolutionary Tive Tag—the most cost-effective, easiest-to-use temperature logger available for end-to-end cold chain monitoring of temperature-sensitive shipments. Taking the form of a thin, flexible shipping label, Tive Tag is a cloud-enabled temperature logger that costs less than half the price of a conventional data logger device—and can be reused for more than a year.
In September of 2022, the company launched a validated, complete cold chain solution for pharmaceutical, biological, and cell gene therapy companies—including cryogenic and dry ice probes—enabling these industries to protect their critical cold chain shipments. Tive Solo 5G trackers (available in both lithium and non-lithium models for all modes of transportation) cover the temperature range of -30°C to 50°C, and the cryogenic and dry ice probes extend the lower range to -200°C.
Tive also announced a cold chain offering for the food and beverage industry. This solution provides perishable shippers and LSPs a choice of two targeted methods for reducing waste and assuring product quality: Tive Solo 5G real-time trackers or Tive Tag. Both solutions help users meet the FSMA requirement of storing 12 months of temperature data of perishable products.
"The hyper-accurate location and sensor data collected by our trackers provide unparalleled visibility and unique insights for our customers and their shipments. Our company's growth in 2022 is a direct result of our continued innovation and leadership—and as we continue to expand operations and release new products to the market, our services are becoming table stakes in the industry," continued Komoni. "We at Tive look forward to ushering in this new age of end-to-end supply chain visibility—across industries and around the globe."
Tive's global workforce expansion continued in 2022, with new offices opening in Norway, Africa, and Mexico. In Q3, the company's U.S. corporate headquarters relocated to a new office in the Hood Park area of Boston—a move that will fuel even more growth for Tive.
Tive expanded their executive team with five critical team members in 2022:
- Josh Allen, Chief Revenue Officer: Previously worked at Drift, CarGurus, and LogMeIn
- Steve Bonadio, Vice President of Global Marketing: Previously worked at Oracle, Ivalua, and META Group (acquired by Gartner)
- Olga Long, Vice President of Revenue Operations & Enablement: Previously worked at Jedox, Fenergo, and Dell Technologies
- Rehana Ashraf, Vice President of Product: Previously worked at Wayfair, Nuance, and iRobot
- Lorenc Kerxhalli, Vice President of Digital Business: Previously worked at Connectbase, Verizon Connect, and Fleetmatics
Industry recognition was a big story for Tive in 2022 as the company continued to receive accolades from industry thought leaders and insiders:
- FreightWaves: "2023 FreightTech 25" winner, with Tive joining this prestigious list for the first time at #18
- Food Chain Digest "2022 Top Food Chain Technology"
- Food Logistics "2022 Top Software & Technology Provider"
- Food Logistics "2022 Top Tech Startup"
- Supply Chain Brain "100 Great Supply Chain Partners"
In 2021, Tive co-launched the Open Visibility Network (OVN)—in conjunction with project44 and FourKites—with the goal of providing 100% visibility for all shipments. In 2022, OVN membership increased from eight members to 17 and continues to attract a broad range of global technology solution providers in the supply chain, logistics, transportation, and other industry-agnostic markets, including blockchain, data management, enterprise system providers, and established 3PL/4PL leaders.
Tive is a global leader in supply chain and logistics technology. With Tive, shippers, retailers, and Logistics Service Providers (LSPs) have the ability to eliminate delays, avoid damage, and mitigate shipment failures. Tive's solution provides insights generated by its industry-leading products for clients to actively optimize their shipments, improve the customer experience, and unlock actionable data in real time. For more information, visit www.tive.com.
Source: Tive, Inc.
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