The deal officially closed Thursday, Karen Sage, MercuryGate’s chief marketing officer, told American Shipper.
Co-founded in 2000 by CEO Monica Wooden and President Steve Blough, MercuryGate, headquartered in Cary, N.C., began with a mission to solve the most complex, high-volume transportation management challenges at an affordable price, the company said. Since those early days, MercuryGate has grown immensely. Last year alone, its TMS managed more than $70 billion of annual freight spend and supported over 300,000 daily logins from 80 countries.
“We selected Summit Partners amongst many other suitors because Summit shares our vision and commitment to extend the foundation we have built into a platform for accelerated innovation, global ecosystem enablement and customer scale,” Wooden said. “I was looking for an investment partner that had the growth-oriented strategic and operational resources to take us to the next level, and I found that formula in Summit Partners.”
Wooden will transition into a customer-facing role as chief revenue officer, while Blough will continue on as chief product officer. Joe Juliano, an executive-in-residence with Boston-based Summit Partners, will join MercuryGate as president and CEO.
“MercuryGate has achieved a strong leadership and brand recognition and is poised for accelerated growth,” Sage said. “With Summit Partners’ ownership, the company will have access to all resources needed to offer outstanding products to a growing customer base, to provide meaningful careers to talented team members and to generate even greater value for its owners and the transportation industry.”
Juliano previously served as president and CEO of IQNavigator, a provider of SaaS solutions that enables businesses to source, manage and pay contingent workforces. Prior to that, he was president of RedPrairie, a provider of supply chain, transportation management and workforce management software, which merged with JDA Software. He also served as president and CEO of PrimeRevenue, a SaaS supply chain financing company, and led all commercial efforts of two publicly traded companies, Ariba and FreeMarkets.
Prior to co-founding MercuryGate, Wooden spent nine years with IBM, for which she “created new business ventures in transportation and distribution that were deployed worldwide,” according to her profile on mercurygate.com. “It is here where she realized the need to automate transportation processes robust enough to handle 3PL and shipper businesses which inspired the start of MercuryGate.”
Blough also was with IBM. As a custom application development competency leader for IBM Global Services, he led domestic and international consulting engagements for clients with supply chain management initiatives.
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