FarEye raises $100 mn led by TCV and Dragoneer

BENGALURU : Logistics software-as-a-service (SaaS) platform FarEye on Tuesday said it has raised $100 million in a Series E round led by US-based Technology Crossover Ventures (TCV) and Dragoneer Investment Group, as the pandemic accelerates the need for enterprises to scale their supply chain operations efficiently to service rising online deliveries.

As part of the transaction, Gopi Vaddi, general partner at TCV, will join FarEye’s board. TCV, a long-time backer of Netflix Inc., made its first investment in India earlier this year, with Dream Sports. FarEye is its second investment in the country.

Existing investors Eight Roads Ventures, Infosys Ltd co-founder Nandan Nilekani’s growth capital fund Fundamentum Partnership and Honeywell also participated in the funding round.