Trax Technologies Funds Growth with Accel-KKR Growth Financing
Trax Technologies announced that it has agreed to debt financing from investment firm Accel-KKR to support its next stage of growth. Trax Technologies is the global leader in Transportation Spend Management and freight payment automation serving global shippers and 4PLs with sophisticated transportation logistics ecosystems. Accel-KKR, the leading global software-focused investment firm, is based in Silicon Valley. Accel-KKR Credit Partners is a credit fund managed by Accel-KKR.
DALLAS, Sept. 2, 2021 /PRNewswire-PRWeb/ -- Trax Technologies announced that it has agreed to debt financing from investment firm Accel-KKR to support its next stage of growth. Trax Technologies is the global leader in Transportation Spend Management and freight payment automation serving global shippers and 4PLs with sophisticated transportation logistics ecosystems. Accel-KKR, the leading global software-focused investment firm, is based in Silicon Valley. Accel-KKR Credit Partners is a credit fund managed by Accel-KKR.
Trax offers efficiency, visibility, and confidence for shippers, carriers, and 4PLs through a robust software platform that elevates freight auditing, cost allocation, logistics data and analytics, payment automation, and supply chain financing. Trax provides greater control and transparency over transportation spend, a growing cost of goods sold for all global enterprises. Trax serves the global multi-modal market, and the company is a trusted partner of many of the world's largest and most sophisticated supply chains within technology, retail, consumer goods, life sciences, industrial manufacturing and 3PL/4PL segments. Trax has revolutionized the decades-old freight audit space into a comprehensive Transportation Spend Management category by using machine learning, big data and analytics to drive continuous improvement in its customers' supply chains while providing cashflow and payments options to enable effective working capital management for shippers, carriers, and 4PLs alike. Trax is a pioneer in the traditional freight audit and payment industry and is leading the evolution of the industry to a cloud-based software approach to Transportation Spend Management.
"There is a great deal of automation, efficiency, and visibility to be gained in the way enterprises manage their supply chains and more specifically the transportation spend within their supply chains." said Hamp Wall, CEO of Trax. "The freight audit industry has historically been very manual, but Trax is laser-focused on utilizing the latest technologies to increase the maturity and resiliency of our clients' logistics networks. This strategic direction differentiates us from the competition. With this financing, we look forward to continuing to lead the space through innovation."
"Transportation spend is an increasingly meaningful part of the global economy," said Samantha Shows, Managing Director at Accel-KKR. "Trax's software is mission-critical to its customers and provides an essential function in operational efficiency, cost management and working capital improvements. We are excited to support Trax in their next stage of growth."
About Trax Technologies:
Trax is the global leader in Transportation Spend Management solutions. Trax elevates traditional Freight Audit and Payment with a combination of industry leading cloud-based technology solutions and expert services to help enterprises with the worlds more complex supply chains better manage and control their global transportation costs and drive enterprise-wide efficiency and value. With a global footprint spanning North America, Latin America, Asia and Europe, Trax delivers data-based visibility and insights, higher savings and better control of transportation spend for shippers and 3PLs/4PLs of all sizes. Visit us at http://www.traxtech.com.
About Accel-KKR:
Accel-KKR is a technology-focused investment firm with over $10 billion in capital commitments. The firm focuses on software and IT-enabled businesses, well-positioned for topline and bottom-line growth. At the core of Accel-KKR's investment strategy is a commitment to developing strong partnerships with the management teams of its portfolio companies and a focus on building value alongside management by leveraging the significant resources available through the Accel-KKR network. In 2019 and 2020, Inc. named Accel-KKR to "PE 50 – The Best Private Equity Firms for Entrepreneurs", an annual list of founder-friendly private equity firms. Accel-KKR is headquartered in Menlo Park with additional offices in Atlanta and London. To learn more, visit accel-kkr.com.
Media Contact:
Greg Tucker
952-322-0709
[email protected]
Media Contact
Greg Tucker, Trax Group, +1 (952) 322-0709, [email protected]
SOURCE Trax Technologies
Share this article