US-based freight management service provider GlobalTranz closed a $40m series C round on Monday funded by Susquehanna Growth Equity, a subsidiary of trading and technology firm SIG, and Providence Equity.
Founded in 2003, GlobalTranz provides a range of shipping and logistics services including trucking, supply chain logistics and warehousing. It previously raised $10m from growth equity firm Volition Capital in January 2011.
SGE director Ben Weinberg, together with Mark Hastings of Providence Equity, will join GlobalTranz’s board of directors in conjunction with the funding.
Andrew Leto, chief executive of GlobalTranz, said: “Our technology and agent offering is the best in our industry right now, and I am excited to work with the Susquehanna and Providence teams. This investment is going to help in our goal of getting to 1 billion (dollars) in annual gross revenue by 2016.”