Blume Global announces new investment round
Pleasanton, Calif. Based supply chain execution and visibility services provider Blume Global recently announced that it has raised new shares, for an undisclosed amount, from the company. London-based private asset growth investor Bridgepoint Group.
Blume officials said this round of investment valued Blume Global at $ 500 million, with Bridgeport joining funds managed by subsidiaries of Apollo Global Management and EQT as equity investors in the company.
Founded in 2018, Blume Global’s service offerings include what it describes as a cloud-driven intelligent operating platform that orchestrates global supply chain processes through a digital chain world map. supply for thousands of customers. And he also noted that by digitizing and transforming global supply chains, enabling shippers (buyers and suppliers), logistics service providers and carriers to work together on a common data-driven platform to reduce waste and inefficiencies through visibility, automation and optimization.
In addition, he said that in 2021, he saw more than 100% growth in annual bookings since the start of the year, as well as the addition of more than 100 employees since January in the United States, to Hong Kong, Europe and India.
“When we launched Blume Global in 2018, we saw an opportunity to create a cloud-based digital operating platform for global supply chains that harnesses modern technologies and machine learning to optimize and automate operations, ”said Pervinder Johar, CEO of Blume Global, in“ Since then we have seen only increased demand for a supply chain transparency and orchestration platform like ours. We are delighted with this new investment from Bridgepoint Group to help fund our continued growth. ”
Glenn Jones, Blume’s Global Vice President, Product Strategy, said LM With this investment, the company will continue to break the status quo of siled supply chain applications by enabling supply chain execution in a single platform and data model.
“This enables stakeholders to better anticipate and respond to supply chain disruptions and bottlenecks,” he said. “This investment will also help us continue to grow by welcoming even more analytical supply chain technology thinkers in a variety of strategic areas. ”
As for what this investment means for the customer, Jones explained that the funding will allow the company to continue to improve the Blume digital operating platform, to get its message across to the industry, to expand its customers and ensure that its customers receive high value.
“Our customers come from all industries, from ocean liners, railways, freight forwarders and several shipper segments, and they have been able to successfully use the platform to solve their business challenges,” he said. note. “Almost all of our customers are looking for a digital supply chain platform and cutting edge applications for real-time visibility, transportation management and supply chain orchestration. The problems encountered by our customers are as follows: finding a profitable logistics capacity to move international and national loads; understand the location and quantity of orders and when they will arrive; and focusing on resolving exceptions with the highest business value.
When asked what the next steps are for Blume on the investment and strategic roadmap fronts, Jones observed that Blume is a high-growth company that will continue to seek investment if these deals go ahead. sense.
“Blume’s roadmap includes the application of artificial intelligence to automate decisions; optimization to reduce waste in the supply chain; make carbon emissions more transparent to increase sustainability; and providing technology to small businesses, allowing them to add capacity to supply chains, ”he said.
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Jeff Berman, Group News Editor Jeff Berman is Group News Editor for Logistics management, Modern material handling, and Supply chain management review. Jeff works and lives in Cape Elizabeth, Maine where he covers all aspects of the supply chain, logistics, freight transportation and material handling industries on a daily basis. Contact Jeff Berman