GlobalTranz secures $40M in funding, shoots for $1B revenue by 2016
GlobalTranz, a Phoenix-based supply chain logistics company, announced the completion of $40 million in Series C funding, according to a press release Monday.
“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 in annual gross revenue by 2016,” said Andrew Leto, CEO of GlobalTranz in the press release.
The funding was led by Providence Equity and Susquehanna Growth Equity.
Mark Hastings of Providence Equity, and managing director of Providence Strategic Growth, led the round of funding and will be joining GlobalTranz’ Board of Directors, according to the press release.
“GlobalTranz is a perfect fit for PSG’s investment strategy of identifying companies that have the opportunity to disrupt large industry segments by applying new technology to solve industry problems. The company’s track record of consistent high growth makes it a compelling investment. We are looking forward to working with Andrew Leto and his team to help solidify GlobalTranz’s position as one of the dominant providers of technology enabled transportation services,” said Hastings.
GlobalTranz received awards from the Phoenix Business Journal in 2011 and 2012 for being one of the fastest growing companies in Arizona. The company recorded revenue of more than $270 million in 2013, according to its website.
It was also a finalist for the Industry Leaders of Arizona Awards, as we reported earlier this year.
The company leverages mobile, desktop and web services to help businesses track packages and coordinate with carriers and sales reps.
GlobalTranz was founded in 2003 and was ranked as the 24th largest privately held corporation in Arizona in 2012.
Graphics provided by GlobalTranz