NTE RAISES $53 MILLION IN PRIVATE EQUITY FINANCING
The National Transportation Exchange Inc., a privately held
business-to-business e-commerce company, said it has raised $53 million in a fourth round
of private equity financing.
Generation Partners was the lead investor. Other investors included Hummer
Winblad Venture Partners, AT&T Ventures, CrossPoint Venture Partners, Bessemer Venture
Partners, divine interVentures Inc., Weiss Peck & Creer and Dell Computer Corp. It
marked the second round of financing NTE has closed in six months.
The company intends to use the financing to continue to expand sales, develop
additional e-commerce technology products, increase is business-to-business marketing
efforts and address global growth opportunities, said James K. Davidson, president and
chief executive officer.
The company’s exchange executes automated buy and sell transactions between
shippers and freight carriers and has more than 500 members.