SaaS Capital, a provider of growth-oriented capital for B2B SaaS companies, announced that one of its portfolio companies, Pacejet, has been acquired by 3Gtms.
Pacejet is a cloud-based shipping software provider. The company’s software is designed to automate the shipping process and procure the best pricing for shipments. The software integrates a shipper’s enterprise resource planning (ERP) system with parcel, freight and less-than-truckload (LTL) carriers as well as third-party logistics providers (3PLs), allowing shippers to work from one screen in real time.
3Gtms is a transportation and logistics software provider. The company’s transportation management software facilitates most functions in the shipping process, including order management, planning, optimization, routing, rating, tendering, booking, tracking and settlement across multiple transportation modes for shippers, 3PLs and brokers.
Financial terms of the transaction were not disclosed.
“3Gtms is laser-focused on delivering an exceptional customer experience in addition to providing high-value generating transportation management and execution solutions that evolve with the times. Pacejet reflects the same values and goals,” said 3Gtms founder and CEO Mitch Weseley.
“The complementary strengths of Pacejet and 3Gtms, along with the alignment of values and the services we can deliver together, open up new possibilities for our customers,” said former CEO and now General Manager of Pacejet Bill Knapp.
SaaS Capital has deployed $209.5 million in growth debt to SaaS businesses since 2007.
Technology-focused private equity firm Sumeru Equity Partners has been an investor in 3Gtms for nearly a year. The firm typically invests $25 million to $200 million per transaction.
Two crappy products put together do not make a good one. The customer experience gets worse, not better.
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