Overhaul
Overhaul tracks and insures high-value cargo, combining GPS tracking with theft recovery and insurance.
On the record
Checkpoint: First full claims cycle for the $75M Helix Consortium AI-hardware cargo insurance program
The call
Overhaul's mix of physical recovery, insurance licensing, and theft data is hard to copy, but its core tracking layer is getting cheaper to build every year, and bigger rivals are circling.
Overhaul helps companies see where their shipped cargo is and recover it if stolen. It combines real tracking software, physical security teams with law-enforcement connections, insurance partnerships, and its own theft data. The tracking part itself is becoming easier for rivals to copy, which is why bigger competitors like project44 are moving into the same security and insurance space. Project44 has far more money and growth, so Overhaul's real edge comes down to whether its insurance products, recovery operations, and law-enforcement relationships stay hard to replicate. The next 6 to 12 months matter most: watch whether project44 and FourKites actually launch competing insurance-plus-security bundles, and whether Overhaul's new insurance offering (through a deal called Helix Consortium) gains real traction or stays a announcement.
Why
01
AI pressure: None apparent. AI feeds Overhaul's own tools like RiskGPT and Shipment Risk Score rather than replacing the physical recovery and insurance work it does. Could AI do the core job? Unlikely.
02
Bigger players: project44. project44, valued near $2.7B and growing ARR 34-48%, is pushing into security and compliance, the turf Overhaul built its business on. Could a giant copy it? Probably.
03
What protects it. Overhaul holds insurance licenses, runs law-enforcement staffed recovery centers, and sits inside Lloyd's underwriting relationships that a visibility dashboard cannot copy overnight.
What would change this call
project44 or FourKites actually ships (not just announces) a cargo-security plus recovery plus insurance product. Would show a larger rival can replicate Overhaul's composite moat and compete directly for accounts.
Helix Consortium's $75M AI-hardware cargo insurance program reports its first full claims cycle in 2027. Would reveal whether Overhaul's new embedded-insurance line is financially sound or a liability.
Public reporting on customer retention or churn following the FreightVerify integration (closed Aug 2025) over the next 6-18 months. Would show whether the acquisition strengthened or weakened Overhaul's customer base.
Helix Consortium's $75M AI-hardware cargo insurance program reports its first full claims cycle in 2027. Would reveal whether Overhaul's new embedded-insurance line is financially sound or a liability.
Public reporting on customer retention or churn following the FreightVerify integration (closed Aug 2025) over the next 6-18 months. Would show whether the acquisition strengthened or weakened Overhaul's customer base.
Key numbers
- $105M Series C raised
- Claims $1.4 trillion cargo value monitored
- Customers include Microsoft, Dyson, Bristol Myers Squibb
Named risks
- Helix Consortium AI-hardware cargo insurance launched June 2026 with no public claims track record.
- No disclosed valuation or audited revenue; funding totals inconsistent across trackers.
- Core visibility layer commoditizing as project44/FourKites ship rival AI agent features.
- Integration risk from FreightVerify acquisition closed August 2025.
- Better-funded rivals like project44 could out-fund and out-grow Overhaul in adjacent security niche.
Rivals, as read in July 2026
| Rival | Direction | Evidence |
|---|---|---|
| project44 | gaining on | Vendor-claimed ~$2.7B valuation, 34-48% ARR growth Feb 2026, expanding into security/compliance |
| FourKites | gaining on | Explicitly expanding into cargo security/compliance adjacencies per 2026 analysis |
| Tive | contesting | Raised $20M Jan 2026, serves 900+ customers in overlapping hardware-tracker visibility niche |
Questions people ask
- Is Overhaul profitable in 2026?
- Overhaul does not publicly disclose audited revenue or profitability. It raised a $105M Series C in August 2025 led by Springcoast Partners with a new MidCap Financial debt facility, funding typical of a growth-stage company still scaling rather than one reporting profits.
- Has Overhaul had layoffs?
- No layoffs are reported. Headcount grew from roughly 340 employees in 2022 to more than 600 by August 2025 per Silicon Republic, and Built In still listed 600 employees across three offices as of March 2026, with growth continuing via the FreightVerify acquisition.
- Could AI replace Overhaul?
- Unlikely to fully replace it. Overhaul's AI tools like Shipment Risk Score (launched August 2025) automate risk scoring, but its moat rests on a licensed insurance brokerage (TX #2800637) and seven law-enforcement-staffed Security Operations Centers, assets a model alone cannot replicate.
- Who owns Overhaul?
- Overhaul is privately held, founded in 2016 by Barry Conlon (CEO) and David Broe (COO), and backed by Springcoast Partners, Edison Partners, Morgan Stanley Investment Management's 1GT, and Americo following its $105M Series C round announced August 19, 2025.
- Who is Overhaul's biggest competitor?
- project44 is the most cited threat: valued at roughly $2.7B with about $930M raised and vendor-claimed 34-48% new-ARR growth as of February 2026, it is expanding into cargo security and compliance adjacencies that overlap with Overhaul's core niche.
- Is Overhaul's new AI-hardware insurance product proven?
- Not yet. The Helix Consortium with Navium Marine, offering up to $75M in single-agreement cargo insurance limits for AI-infrastructure shipments, launched June 1, 2026, too recently for any public claims history or performance track record.
Timeline
- 2026-06-01Overhaul and Navium launch Helix Consortium AI-infrastructure cargo insurance, $75M limits
- 2026-05-18Overhaul report: US cargo theft dipped Q1 2026, deceptive pickup fraud up 31% YoY
- 2025-08-19Overhaul acquires FreightVerify, adding six of top ten auto OEMs as customers
- 2025-08-19Overhaul closes $105M Series C led by Springcoast Partners with MSIM 1GT and MidCap debt
- 2025-08-15Overhaul launches Shipment Risk Score and Risk Summary AI tools
- 2025-03-21Overhaul secures $55M growth round led by Springcoast Partners
- 2023-07Overhaul launches tech-embedded cargo insurance brokerage
- 2021Overhaul raises ~$35M Series B led by Macquarie Capital
- 2016Overhaul founded by Barry Conlon and David Broe in Austin/Dundalk
Revision history
23 July 2026
First assessed. Protection under test. The text above is fixed as of this date and is not edited afterwards.
In the same band
Sources
- Irish-founded logistics-tech player Overhaul raises $105m (2025-08-21)
- Revenue, Competitors, Alternatives (2022-04-18)
- Overhaul Secures $55 Million in Funding (2025-03-21)
- Morgan Stanley Investment Management 1GT Overhaul Group (2025-08-19)
- Overhaul funding, news & analysis
- A New Era of Supply Chain Transparency Begins (2025-08-19)
- Overhaul - Overview, News & Similar companies (2023-12-18)
- Overhaul and Navium launch insurance solution for AI infrastructure cargo (2026-06-02)
- Overhaul on the list of America's fastest growing companies (2025-09-30)
- What's It Like to Work at Overhaul 2026? (2026-03-31)
- Overhaul secures $105 million Series C (2025-08-20)
- Overhaul and Navium launch insurance solution for AI infrastructure cargo (2026-06-01)