Supply chain and logistics technology represents a growing and exciting market opportunity of strategic relevance to businesses across industries
- Over the last several years, supply chain and logistics technology has transformed from a “need to have” backoffice function, to a method of strategic differentiation and central focus. A majority of surveyed companies across industries made investments in their supply chain technologies in 2020, and plan to continue to do so in 2021 and beyond. 92% of surveyed companies plan to improve their supply chain resiliency through physical changes to their supply chain footprints. Tive is well-poised to take advantage of this increased willingness to spend and trending focus on supply chain and logistics technology, and especially supply chain resiliency
Given the fragmentation and inherent distrust in the space, having ownership of data is a key priority for many shippers and 3PLs* (3rd Partly Logistics Providers: end-to-end supply chain managers). Supply chain resiliency is also top of mind for many shippers, and accurate data is key to achieving resiliency
- Tive enables shippers, 3PLs, LSPs* (Logistics Service Providers: end-to-end supply chain managers), and other parties to own their visibility data. Tive differs from supply chain visibility platforms and technology like ELDs* (Electronic Logging Devices: used by carriers to track driver hours), in that their solution enables shippers and 3PLs to own their supply chain visibility data. With supply chain visibility platforms and other technology offerings, shippers have to rely on other parties to not only share data with them, but to share accurate data. Tive effectively provides for a single source of truth, owned end-to-end by the customer. This market approach will also benefit Tive going forward, as the company will not be required to engage in an ambitious network strategy in order to make its product viable. Furthermore, given the points of fragility and weakness that the last two years have exposed in the logistics and supply chain ecosystem, supply chain resiliency is likely to be a key topic in the coming year. Resiliency is enabled by access to data, which Tive provides for.
The company has a differentiated offering, and customers speak highly of the solution
- Tive’s solution encompasses hardware, software, and support / services elements, and as an all-in-one offering, is differentiated compared to competitors. Customers speak very highly of the solution across all aspects (hardware, software, and support / services). When it comes to hardware, Tive’s devices uniquely package tracking technologies together, and utilize a range of sensor technologies, providing for a range of measurement capabilities. On the software side, Tive’s platform is modern, easy-to-use /configure, and helps customers easily and actively manage any supply chain issues. Customers also speak highly of Tive’s team. Most customers that AVP spoke to noted that they had actively recommended Tive to colleagues already.
Tive has achieved impressive financial performance
- The company grew 279% YoY in 2021, ending the year at $24.5M CARR. The company has also maintained strong retention and payback metrics (less than one year)
Tive’s CEO is level-headed, thoughtful, and knowledgeable about the market
- We have been impressed with the CEO thus far and from market commentary, we understand that customers see him as a knowledgable and strategic leader in the space
