• DTS.USA
    5.837
    -0.006
    -0.1%
  • NTI.USA
    2.850
    0.010
    0.4%
  • NTID.USA
    2.900
    0.070
    2.5%
  • NTIDL.USA
    2.000
    0.070
    3.6%
  • OTRI.USA
    8.000
    0.000
    0%
  • OTVI.USA
    12,671.640
    16.810
    0.1%
  • DTS.USA
    5.837
    -0.006
    -0.1%
  • NTI.USA
    2.850
    0.010
    0.4%
  • NTID.USA
    2.900
    0.070
    2.5%
  • NTIDL.USA
    2.000
    0.070
    3.6%
  • OTRI.USA
    8.000
    0.000
    0%
  • OTVI.USA
    12,671.640
    16.810
    0.1%
BusinessFinanceMaritimeNewsTop StoriesTrucking

3G secures $15M financing round to expand technology solutions

TMS provider will use funds to accelerate development and grow market share

Transportation management system provider 3G has completed a $15 million financing round led by Sumeru Equity Partners, Hercules Capital and several existing investors.

Paul Brady, CEO of 3G, said the company will use the funds to expand its technology offerings to service its “growing client base.”

“Accelerating development will broaden our capacity to best arm customers with resources that scale their business,” Brady said in a statement. “3G will continue to provide best-in-class solutions that evolve alongside our customers’ growth to meet and exceed commitments.”

Shelton, Connecticut-based 3G provides TMS solutions along with advanced multi-carrier shipping software. The company was founded in 2010 by Mitch Weseley.

The company offers two products, 3Gtms and Pacejet. 3Gtms is a full-service TMS for shippers, freight brokerages and third-party logistics providers. Pacejet is 3G’s multi-carrier shipping software providing parcel and LTL shipping automation to small, medium and enterprise shippers.

3G also recently expanded truckload brokerage functionality to help freight brokers better manage their quote-to-cash processes. 

Paul Mercadante, managing director of Sumeru Equity Partner, said the pandemic has created the need for management systems that can adapt when disruptions impact the global supply chain.

San Mateo, California-based Sumeru Equity Partners is a technology-focused growth capital firm. 

“Working with the 3G team, we quickly understood that they’ve constructed a comprehensive TMS that will transform the industry from end to end,” Mercadante said in a statement. 

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Noi Mahoney

Noi Mahoney is a Texas-based journalist who covers cross-border trade, logistics and supply chains for FreightWaves. He graduated from the University of Texas at Austin with a degree in English in 1998. Mahoney has more than 20 years experience as a journalist, working for newspapers in Florida, Maryland and Texas. Contact nmahoney@freightwaves.com

One Comment

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