INTTRA secures $9.5 million in financing

Investment from ABS Capital Partners and existing shareholders and management will support the ocean shipping platform’s next stages of development.    The ocean shipping electronic marketplace INTTRA has secured $9.5 million in strategic financing from the growth equity firm ABS Capital Partners and other existing INTTRA shareholders and management.
   The new funds will be used to enhance INTTRA’s e-shipping platform for carriers, third party logistics providers and shippers and to support the continued development of products and services, the company said in a statement.
   “INTTRA’s customer network, platform and leadership team have never been stronger, and we believe there is more we can do to continue delivering value to our customers and the industry,” said INTTRA Chief Executive Officer John Fay. “The investment from ABS Capital Partners and our other shareholders will enable us to strengthen the features of our current platform and accelerate our plans for INTTRA Data Services, as well as pursue other strategic growth opportunities.”
   The company said more than 220,000 ocean shipping professionals use the INTTRA platform to book more than 600,000 ocean shipping container orders per week, representing roughly 22 percent of world container trade.
   “INTTRA continues to demonstrate its market leadership and influence the adoption of e-commerce solutions in the shipping sector,” said Bobby Goswami, general partner at ABS Capital Partners. “While other technology companies are just now entering this market, INTTRA is working on what’s next with its customers based on future market need.”