Internet logistics provider Logistics.com said it has received $10 million in additional financial backing from Internet Capital Group. This follows $15 million of previously unannounced financial support late last year.
“We believe that the strength of Logistics.com’s management team, significant momentum, and demonstrated revenue and customer base growth, position the company as the clear leader in the transportation technology space,” said Walter Buckley, president and CEO of Internet Capital Group. “Logistics.com’s strong track record of execution – especially its impressive and rapidly growing customer base – continues to reinforce our confidence in the company, and led to our decision to increase ownership from 36% to 97%.”
The additional funding will support continued expansion efforts, particularly in technology, customer-reaching initiatives and strategic acquisitions, Logistics.com said.
