Supply chain visibility technology provider 10-4 Systems has been spun out of US-based logistics company GlobalTranz with a $13.9m series A round led by GlobalTranz co-founder Andrew Leto.
10-4 Systems, founded by GlobalTranz in 2012, supplies technology that helps freight carriers, brokers and shippers track moving freight packages in real time. It will put the series A funding into product development and customer acquisition.
Travis Rhyan, president and CEO of 10-4 Systems, said: “We appreciate the contribution from our former parent company and look forward to the next chapter in our organisation’s evolution.
“We have secured significant investment that will continue to fuel our growth, expansion, and innovation for years to come. We look forward to continuing to serve our customers with best in class technology and service as we work together to bring modern day technology to an antiquated industry.”