Dave Clark, a former Amazon and Flexport executive, has launched a new supply chain technology startup called Auger, with $100 million in Series A funding from Oak HC/FT. Drawing on Clark’s 23-year tenure at Amazon, Auger will offer an AI-powered system that targets inefficiencies, provides real-time insights and automation, and aims to help big companies make better decisions. The target market for Auger includes large Fortune 100 companies with complex global supply chains involving manufacturing, distribution, and retail operations. Clark sees a $25 billion estimated total addressable market for supply chain technology, with the potential to reach $50 billion by the early 2030s.
With offices in Stamford, Conn., and San Francisco, Oak HC/FT is known for investments in healthcare and fintech, and has logistics startups in its portfolio. Auger plans to use the initial capital to build its team and technology platform, while also considering potential acquisitions of companies in the field with interesting technology and talent. Clark aims to replicate the success he had at Amazon by finding and eliminating inefficiencies in the supply chain. Despite his experience in the industry, founding Auger is Clark’s first venture as an entrepreneur.
Following his abrupt resignation as CEO of Flexport, Clark took time to reflect and explore new ideas. He ultimately decided to launch Auger after reconnecting with his family and finding a team of individuals who shared his commitment to solving supply chain challenges. The company’s founding team is based in Bellevue, Wash., with plans to grow to 20-30 employees within six months. Auger will emphasize in-person collaboration to drive innovation in solving global supply chain problems.
While some heavily funded supply chain technology companies are already addressing similar problems, Clark believes there is still room for innovation. Many companies are still relying on outdated systems patched together from incompatible technologies such as Excel. Auger aims to provide a solution that is specifically tailored to the needs of modern supply chains. Clark sees the abundance of talent in the Seattle area as a key advantage for the company, emphasizing his commitment to finding a team that shares his mission and passion for solving supply chain issues.
Auger’s target market consists of large companies with complex global supply chains, many of which are still using outdated technology that hinders communication and efficiency. The potential market for supply chain technology is vast, with significant growth expected in the coming years. Auger aims to disrupt the industry by providing a comprehensive solution that addresses the inefficiencies and challenges commonly faced by large companies. Clark’s reputation for innovation and efficiency from his time at Amazon positions Auger as a promising startup with the potential to make a significant impact in the supply chain industry.
In conclusion, Dave Clark’s new startup Auger seeks to revolutionize the supply chain industry by offering an innovative AI-powered system that targets inefficiencies and provides real-time insights for large companies with complex global supply chains. With $100 million in Series A funding from Oak HC/FT, Auger plans to build a strong team and technology platform while considering potential acquisitions to accelerate growth. Clark’s previous experience at Amazon has equipped him with the tools necessary to drive success at Auger, which aims to address the human problems caused by broken supply chains and make a lasting impact on the industry.
