Tive Celebrates 60% Year-over-Year Revenue Growth
30 July 2024 - 10:00PM
Tive, the global leader in supply chain and logistics visibility
technology, today announced 60% year-over-year revenue growth as
well as other key milestones—including the launch of the Solo Lite
IoT tracker. In addition, as a testament to its sustainability push
via the Tive Green Program, the company announced a 90%
year-over-year increase in trackers being returned for recycling
and reuse.
“Real-time visibility is
no longer just a value-added service—it's become a fundamental
customer expectation,” said Krenar Komoni, Tive CEO and Founder.
“Research shows that adoption of real-time IoT trackers and devices
has more than doubled over the past year—from 25% in 2023 to 53% in
2024—and Tive continues to experience tremendous growth as a result
of customer demand to unlock ground truth operational data and
drive best-in-class supply chains.”
Tive achieved the
following key milestones in the first half of 2024:
- Reported 60% year-over-year revenue growth leading to an
impressive acceleration of the business—despite the ongoing global
freight recession
- Added more than 130 new customers in the first half of 2024,
achieved 84% growth in existing customer bookings from Q1 to Q2,
and grew tracker shipments by 64%
- Observed 72% year-over-year growth in customers using the Tive
cloud platform to make intelligent, data-driven operational
decisions
- Launched the Solo Lite, the industry's best-in-class shipment
tracking solution tailored for the needs of cost-aware logistics
and cold chain professionals—with global coverage via WiFi and
cellular, and across all modes of transportation
- As part of Tive’s commitment to sustainability via the Green
Program, tens of thousands of trackers were returned for recycling
and reuse in the first half of 2024—a 90% year-over-year
increase
- Achieved a customer Net Promoter Score
(NPS) of 48 and Customer Satisfaction Score (CSAT) resolution of
96%, with less than 1% revenue churn in Q2 2024—highlighting Tive’s
deep commitment to its global customers
- Tive trackers traveled nearly 21 million miles in June 2024—an
average of 272 miles per day
- Since its founding in 2015, Tive has
sold more than 1.6 million trackers, and these trackers have
traveled more than 12.5 billion miles across the globe—generating
4.5 billion alerts that helped customers save their shipments from
delays, damage, spoilage, and theft
Industry recognition has
again been a big story for Tive thus far in 2024. In the first six
months of the year, the company has received five awards from the
following industry insiders:
- Food Logistics: “2024 Rock Star of the
Supply Chain” (Krenar Komoni, Tive CEO & Founder)
- Supply & Demand Chain Executive: “Top Supply Chain Projects
2024” with Tive customer Mary Kay Global
- Inbound Logistics: “2024 Top 100 Logistics IT Providers”
- Supply & Demand Chain Executive:
“2024 Pros to Know” (Krenar Komoni, Tive CEO & Founder)
- SupplyTech Breakthrough: “Supply Chain
IoT Solution Provider of the Year”
“We are committed to helping our customers overcome today’s
challenges by providing a new level of supply chain transparency,
resilience, and sustainability,” continues Komoni. “By providing
real-time multimodal insights into the location and condition of
all shipments, Tive empowers businesses with the data they need to
achieve true operating leverage, reduce waste, minimize cargo
theft, avoid temperature excursions, and empower them to ultimately
delight their end customers.”
About
TiveTive is the global leader in supply chain and
logistics visibility technology. More than 800 global shippers,
logistics service providers, and retailers use Tive to monitor
shipment location and condition in real time, gain actionable
insights, and ensure end-customer satisfaction. Tive's cloud
platform, patented sensor technology, and 24/7 Live Monitoring
services reduce excursions and delays, minimize rejected loads, and
decrease theft, damage, and spoilage. Tive's Green Program reduces
electronic waste by renewing and recirculating trackers and
extending their life. Customers count on Tive to ensure that
shipments are delivered on time and in full—because every shipment
matters. For more information, visit https://www.tive.com/.
Press Contact:Lane KearneyCorporate Ink for
Tivetive@corporateink.com