GlobalTranz, a leader in transportation management and logistics industry, announced today that it has closed its first institutional round of financing since their inception in 2003. The $10 million investment was led by Volition Capital, a growth equity firm that invests in high-potential, founder-owned technology companies. The proceeds will be applied towards working capital and growth investment across a variety of verticals within the company. Larry Cheng, Managing Partner of Volition Capital, will join GlobalTranz's Board of Directors, and Sean Cantwell, Principal of Volition Capital, will serve as a board observer.
"It is rare that a private equity firm invests in a transportation company," said Andrew Leto, CEO of GlobalTranz. "Volition's partnership is a great vote of confidence in the future of GlobalTranz as a market leader and we are excited to acquire Volition's investment and expertise."
GlobalTranz specializes in less-than-truckload and full truckload transportation, supply chain logistics and warehousing. Their nationwide network of sales Agents serve local to national accounts with CarrierRate.com, a proprietary Transportation Management System. With this technology, shippers can optimize the flow and storage of merchandise as the goods move throughout their supply chain. GlobalTranz focuses on innovative technology, strategic carrier partnerships, and outstanding Agents with energy, insight, and a gervent customer service mentality.
The funding follows yet another record-breaking year for GlobalTranz. "We have more than doubled revenue for the third consecutive year," said Leto. "There is no telling what the future holds for GlobalTranz, which until this point had not received outside investment."
"We are excited to partner with a company founded and developed on such a strong entrepreneurial spirit," said Larry Cheng. "GlobalTranz offers a compelling value proposition and we believe this will be the next step in positioning the company for a future as a billion dollar leader in the transportation industry."
GlobalTranz is a privately held logistics management firm based in Phoenix, Arizona, specializing in carrier, supply chain and warehouse management. Founded in 2003, GlobalTranz has become the premiere provider of supply chain management technology, Carrierrate.com, which optimizes the flow and storage of merchandise as goods and materials move within the supply chain. GlobalTranz has been recognized on the Inc 500 list of Fastest Growing Private Companies for three years running and continues to see tremendous growth. Together with a nationwide network of sales Agents, GlobalTranz consistently strives to create and enviornment where carriers and shipping customers establish mutually beneficial solutions, optimized carrier transit times and operational strengths through the integration of technology, strategic partnerships and fervent customer service. (www.globaltranz.com)