Overhaul Secures $55M to Combat Supply Chain Theft for Microsoft, Dyson & More
The Rising Challenge of Supply Chain Security
Modern supply chains face unprecedented pressures—from labor shortages to escalating theft risks. A recent Prologis survey reveals that 67% of executives lose sleep over supply chain vulnerabilities. This growing crisis has created urgent demand for innovative security solutions.
From FreightWatch to Overhaul: A Founder’s Journey
Barry Conlon and David Broe, veterans of supply chain security through their previous venture FreightWatch (acquired in 2012), identified critical gaps in cargo protection. In 2016, they launched Overhaul—a next-generation platform combining:
- Real-time shipment tracking
- Theft prevention systems
- Quality/compliance monitoring
- Cost optimization analytics
The Alarming Rise of Cargo Theft
Recent data from CargoNet shows:
- 14% YoY increase in U.S./Canada cargo theft (Q3 2024)
- $39M+ in stolen goods (single quarter)
“Without visibility, it’s impossible to mitigate risks,” explains CEO Barry Conlon. “Our platform transforms reactive security into proactive protection.”
Image: Overhaul’s real-time monitoring dashboard
How Overhaul’s Technology Works
The platform serves 350+ enterprise clients including:
- Microsoft
- Dyson
- Bristol Myers Squibb
Key technological advantages:
- AI-Powered Risk Detection: Analyzes telemetry data to predict delays/theft attempts
- Global Security Network: Instant alerts connect local law enforcement via smartlinks
- Specialized Solutions: Including cold chain monitoring for pharmaceuticals
Competitive Landscape and Funding
Operating in the $12.6B supply chain visibility market (projected 2032 value), Overhaul competes with:
- Tive
- Altana
- Project44
- FourKites
Despite sector-wide funding declines (from \(63.7B in 2021 to \)7.1B in 2024), Overhaul’s $55M Series C (led by Springcoast Partners) brings total funding to $150M. This capital will fuel:
- Product R&D
- Strategic acquisitions
- Team expansion (currently 600 employees)
The Future of Supply Chain Security
As organized cargo theft grows more sophisticated, Overhaul’s intelligence-as-a-service model and insurance programs position it as a critical partner for global enterprises. With this latest funding, the company aims to redefine supply chain resilience in an increasingly volatile logistics landscape.
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