Visibility provider Tive announced Thursday it raised $40 million in an oversubscribed Series C funding round led by World Innovation Lab and Sageview Capital, with participation from AVP, RRE Ventures, Two Sigma Ventures, Qualcomm Ventures, Fifth Wall, Supply Chain Ventures, and Sorenson Capital.
This capital will fuel Tive’s goal to enhance real-time shipment tracking and monitoring capabilities. With its innovative multi-sensor trackers and cloud platform, Tive serves over 900 global customers across industries like life sciences, food and beverage and high-value goods, according to the company.
A key focus for Tive has been combating cargo theft, a persistent challenge in logistics.
Potomac Metals, Inc. (PMI), a scrap metal recycler, adopted Tive’s technology after experiencing significant thefts. By equipping shipments with Tive’s trackers, PMI gained real-time insights into their cargo’s location and condition. This visibility allowed them to recover stolen goods swiftly, including a $175,000 copper shipment in 2024.
Similarly, Vianney, a Mexico-based home textiles company, implemented Tive to counter theft and driver misconduct. Initially relying on traditional GPS devices with limited battery life, Vianney began using Tive’s Solo 5G trackers, which can last up to 90 days without charging.
Tive’s tracking led to the recovery of merchandise stolen on a high-theft route. The technology has also powered Vianney to sever ties with clients engaging in illicit activities.
The new funding will enable Tive to further refine its technology and expand its market reach.
As these fraudulent schemes continue to evolve, technology providers like Descartes are stepping up their efforts to arm their customers with the tools and insights needed to stay ahead of bad actors.
According to Andrew Wimer, senior director of Operations and Professional Services at Descartes, the company’s Descartes MacroPoint customers say freight fraud is a top concern with bad actors getting more sophisticated at not only cargo theft but also spoofing tracking data and manipulating compliance scores.
“We’re seeing shipments stolen and data manipulated, even when the tracking data looks flawless,” he explains. “Carriers are finding ways to spoof location data and tracking information, making it difficult for brokers to know when a load has truly gone missing.”
In response, Descartes has been aggressively investing in fraud prevention capabilities across its suite of visibility and compliance solutions. A key focus has been enhancing pre-tender visibility, giving brokers deeper insights into a carrier’s history, assets and reliability before tendering a load.
