Dave Clark, a former Amazon executive, has launched a supply chain technology startup called Auger with $100 million in Series A funding from Oak HC/FT. The company aims to help large Fortune 100 companies with complex global supply chains by offering an AI-powered system that unifies data, targets inefficiencies, provides real-time insights and automation. Clark, drawing on his extensive experience at Amazon, has moved back to Seattle to launch Auger due to the supply chain expertise in the region.
Auger targets companies using disjointed systems that do not communicate effectively, with a potential total addressable market of $25 billion growing at nearly 20% per year. This represents a significant opportunity for Auger to disrupt the supply chain technology space. The company plans to utilize the initial funding to build its team and technology platform, potentially considering acquisitions of companies with interesting technology and talent.
Clark’s previous initiatives at Amazon include the Delivery Service Partners program, Prime Air cargo fleet, and Amazon-branded tractor-trailers. Despite his experience in the industry, Auger is the first company he is founding from scratch. He aims to build a company that combines the best cultures he has been a part of to solve supply chain problems efficiently and effectively. Following his resignation from Flexport, Clark took time to reflect on new ideas and eventually decided to launch Auger.
The founding team of Auger is based in Bellevue, Washington, but additional members have not been named. The company was incorporated in Delaware on September 6, 2023. Auger is expected to grow to around 20 to 30 people within six months, with employees working in-person. Clark emphasizes the importance of having the team together physically to build culture and collaborate effectively towards solving supply chain challenges.
Clark decided to work with Oak HC/FT due to their long-term view and philosophy on building companies. While there are other heavily funded supply chain technology companies in the space, such as Project44 and FourKites, Clark believes there is still plenty of room for innovation. He notes that many companies still rely on Excel for supply chain management, highlighting the potential to solve this problem with innovative technology solutions. Auger plans to address inefficiencies in global supply chains and make a significant impact on the industry.
Overall, Dave Clark’s new venture, Auger, is poised to disrupt the supply chain technology space by leveraging his expertise from Amazon and Flexport to build a powerful AI-powered system. With significant backing from Oak HC/FT, Auger aims to revolutionize the way large companies manage their global supply chains. By focusing on unifying data, targeting inefficiencies, and providing real-time insights, Auger plans to address critical challenges in the industry and create substantial value for its customers.
