Lanetix closes $18M Series B
Lanetix Announces $18M Series B Financing Funding to Fuel Growth
San Francisco, CA Jan 21, 2017 Lanetix, the vertical CRM company focused on the transportation and logistics industry, closed a Series B financing last month for $18M. The lead investor was B-Capital of Los Angeles with participation from current investors including Vertical Venture Partners (VVP). VVP provided the original Series Seed investment in 2014. The company also reported new customer wins in contract logistics, ocean carrier and freight brokerage markets.
“We are thrilled with the results from 2016,” explained CEO John Golob. “Too often, commercial leaders are running their operations with blinders over their windshield; they can only see what happened, through their rear view mirrors. We’re changing that with solutions that solve some of the industry’s most pressing challenges.”
Industry Pain Points:
- Data-Driven Bid Qualifications: Identify the bids 3PL’s are most likely to win, based on data, not just a sales rep’s customer relationships.
- Reducing Bid Time-to-Response: Manage complex bid responses through collaborative workflows; a sea freight customer expects a reduction of 40%.
- Integrating Spot Market Quotes with Global Account Strategies: Today’s spot market customers are tomorrow’s global accounts, align the transactional history with the longer strategy to think like a network and speak with one voice.
“Lanetix is a great example of where the CRM industry is headed. Customers require CRM solutions that are built for their particular industry,” said David Schwab, Managing Director of VVP. “They are frustrated with the customization process required with horizontal CRM vendors who design to the least common denominator”
Lanetix is the world’s number one most widely used collaboration, CRM and workflow software for the logistics industry, helping LSPs streamline their bid desks, increase margin, improve sales productivity and reduce risk in solution design and delivery. With thousands of Lanetix subscribers in North America, Asia, Australia and the Middle East, our customers turn to Lanetix to power the commercial operations of LSP’s ranging from freight forwarders, carriers, value added warehousing companies, contract logistics service providers and freight brokerage firms.
ABOUT VERTICAL VENTURE PARTNERS
VVP invests in enterprise technology companies that target specific vertical markets. We focus on companies with solutions for pain points that are C-suite priorities. Some vertical markets of interest include: Aerospace and Defense, Financial Services, Healthcare, Insurance, Real Estate, Retail, and Transportation. Some technology areas of interest include: Business Intelligence, Cloud Applications, CRM, Mobile, Security, and Software Infrastructure. Our focus is on enterprise sectors where we have deep domain expertise, broad industry knowledge and significant investment experience.