Global Supply Chain Technology Focus

Special Report

Gnosis ‘ doubling down ’ on importer tech with first outside funds

By Eric Johnson

International logistics software provider Gnosis Freight has taken its first outside investment since its founding in 2017 to expand the reach of its product targeted at importer logistics teams .

The company ’ s customers include shippers such as Haverty ’ s , Five Below and Continental Tire , as well as logistics providers like IMC Companies and OOCL Logistics .

“ There are many ways to build a business ,” Gnosis CEO Austin McCombs told the Journal of Commerce . “ We very intentionally built the business [ without outside investment ], because the industry is smart , and trust driven . Our approach was taking one step at a time and also very product-led . That was important for an industry that has been burnt by technology in the past .”

Terms of the investment from private equity group Vista

Equity Partners , including the amount , equity share and valuation , were not disclosed . Vista said in a statement that the fund out of which it is investing in Gnosis supports “ highgrowth enterprise software , data and technology-enabled companies that have achieved at least $ 10 million in [ annual ] recurring revenue .”

‘ What we ’ re doing is working ’

McCombs said the new investment does not signal a change in course for Gnosis , which company executives say is already profitable , but rather a way to build on existing momentum .

“ This is about doubling down on our current course , and we needed a partner that understood that ,” he said .

The investment will be channeled primarily toward building Gnosis ’ engineering team to cater to a growing list of clients , as well as increasing its marketing efforts .

“ We want to make sure the people searching for the product we build can actually find us ,” McCombs said . “ We feel confident that what we ’ re doing is working . We wanted to make sure that when we turn the microphone up , the right song was playing .”

The undisclosed investment from private equity group Vista is Gnosis ’ first outside funding . Shutterstock . com

36 Journal of Commerce | October 21 , 2024 www . joc . com