RealTime IT News

Clicklogistics Collects Capital

Clicklogistics, a Billerica, Mass., provider of Web-based services to manage companies' shipping needs, has raised new financing for product development.

The backing comes from repreat investor GTCR Golder Rauner Fund VII. The exact amount was not disclosed, however the company said it totals more than $1 million.

"Despite the tight economy, we are adding resources to support our new customers and to move our technology forward," said Tom Sanderson, Clicklogistics CEO.

In addition to the new funding, Clicklogistics has hired several new employees including: Terry Clingman, logistics coordinator for the Marathon Oil account, and Will Duggan, sales and business development director for the West Coast.

"Clicklogistics has demonstrated an ability to attract customers in a tough economy," said Dave Donnini a GTCR principal. "Our investment will help add functionality to support new and future customers."

The privately held company was founded in 1997 and recently spun itself off from trucking company Cardinal Logistics Management. It moved to the Bay State earlier this year to be near technical talent, funding sources and other industry resources.

In addition to its Web service for companies to procure and manage trucking services, ClickLogistics also serves as a third-party provider of logistics services for customers who want to outsource the job. The firm is a "non-asset-based" logistics provider, meaning it does not own trucks, unlike its former parent company.