TPG Capital, the global private equity platform of alternative asset firm TPG, and Palleter, a visibility and prediction-based telematics aggregator, has announced that they are partnering to create a leading supply chain visibility platform in Europe, Sixfold.
As part of the partnership, Palleter's team will join the new company, using their advanced technology and expertise to build the platform's core and further develop its services together with new talent.
Sixfold is a cloud platform that provides carriers, shippers, and their end customers with real-time visibility into the location, status, and arrival time of their shipments. Carriers using state-of-the-art telematics systems can integrate with Sixfold within minutes, providing customers a birds-eye view of their shipments.
Sixfold leverages this data to enable efficiency and savings for carriers and shippers through value-added applications such as automated dock-scheduling and workflow management. Sixfold's technology can seamlessly integrate with a wide range of different logistics platforms and transport management systems.
"Our goal is to provide our customers with a competitive advantage in their supply chains by becoming the leading visibility platform in Europe," said Wolfgang Wörner, CEO of Sixfold. "Across the region, we have witnessed a clear need for a comprehensive and action-enabling visibility platform, such as Sixfold. As a company, we have both the technology and talent to drive tangible improvements for customers through real-time end-to-end visibility."
"We are excited to launch Sixfold and continue our work of bringing transparency and efficiency to this industry," said Märt Kelder, Head of Product at Sixfold, formerly co-founder of Palleter. "With the industry network and global resources of our partners at TPG, we are well positioned to become a major player in the supply chain space. We are thrilled to launch the platform."
"Real-time visibility is a critical ingredient in making global supply chains more efficient," said Malte Janzarik of TPG Capital. "In partnering with Palleter, we're uniquely able to leverage their experience and technology to quickly create the next generation visibility platform that is set to become the market leader in Europe."
TPG Capital's engagement to launch Sixfold comes on the back of a number of recent investments by the platform into the into the supply chain technology space, including Transporeon, LLamasoft and Transplace.
"We are excited about having the different companies in our ecosystem collaborate to make the global supply chain more efficient and improve customer experience," continued Janzarik. "We will continue to look for innovative companies of all sizes in the field of supply chain technology that we can add to this thriving ecosystem."