There’s been a leadership shake-up at FourKites.
The visibility platform, which was reportedly valued at $1 billion last year, announced new leadership positions in a Wednesday news release.
Sean Fallon, FourKites’ former president, has rejoined the company as chief strategy officer, according to the news release. In this role, Fallon will “drive strategy and support continued growth.”
President Rocky Subramanian confirmed to FreightWaves he is no longer with FourKites. He joined in April. FourKites would not comment and its release did not name a replacement.
Priya Rajagopalan, who is currently the chief product officer, will take over the responsibilities of chief customer officer, FourKites CEO and founder Matt Elenjickal wrote in an email on Tuesday to FreightWaves. She will oversee customer operations, product and R&D, according to the Wednesday release.
The chief customer officer role was previously held by Bob Slaby. Fabrizio Brasca previously held the chief strategy officer title. Neither returned requests for comment on whether they remain at the company, and Elenjickal declined to comment on their status at FourKites.
Brasca’s name had been removed from the FourKites’ leadership team page as of Wednesday morning, while Subramanian’s and Slaby’s remained.
Elenjickal told FreightWaves on Tuesday that these were “routine internal organizational changes.”
FourKites has had a total of eight funding rounds, the most recent in September 2022. Elenjickal told The Wall Street Journal last year that FourKites was valued at $1 billion. FourKites counts Best Buy, Dow, Coca-Cola and other top brands among its customers.
Supply chain visibility platforms have struggled in the past year and a half. A depressed freight market and a downturn in investment deals have slammed venture-backed startups across FreightTech. According to Pitchbook data, the first half of 2023 saw 404 supply chain tech venture deals with a total value of $5.7 billion. That’s considerably lower than the same period last year: 567 venture deals with a total value of $23 billion.
FourKites laid off an undisclosed number of employees in August 2022, FreightWaves reported. However, according to LinkedIn data, FourKites has not seen an overall slump in its employment numbers. The company has nearly 660 employees, up 10% from two years ago.
“We are excited to announce these appointments at a time when customers are looking for more opportunities for digitization than ever before,” Elenjickal said in the Wednesday news release. “These additions bring a tight connection between the voice of the customer and our high-velocity R&D team, which will yield accelerated opportunities for innovation and customer value.”
Have a story to share about FreightTech? Email rpremack@freightwaves.com.
