Celarix Raises $45 Million in Funding; Chase H& Leads Third Round to Fuel the Development of New Services.Business/Technology Editors BOSTON--(BUSINESS WIRE)--Jan. 20, 2000 Celarix, Inc., the leading provider of web-based transportation procurement The fancy word for "purchasing." The procurement department within an organization manages all the major purchases. and logistics management Logistics Management is that part of Supply Chain Management that plans, implements, and controls the efficient, effective, forward, and reverse flow and storage of goods, services, and related information between the point of origin and the point of consumption in order to meet services, today announced it has raised $45 million in a third round of financing, led by Chase H&. Additional investors participating in this round of funding include Technology Crossover Crossover The point on a stock chart when a security and an indicator intersect. Crossovers are used by technical analysts to aid in forecasting the future movements in the price of a stock. In most technical analysis models, a crossover is a signal to either buy or sell. Ventures, Integral Capital Partners, Charles River Charles River River, eastern Massachusetts, U.S. The longest river wholly in the state, it flows into Boston Bay after a course of about 80 mi (130 km). Navigable for about 7 mi (11 km), its estuary separates the cities of Boston and Cambridge. Ventures, TL Ventures, Comdisco and other private investors. This round of financing will provide the critical resources necessary to drive the accelerated development of new functionality within Celarix's service offerings, and fuel the expansion and strategic growth of the company's program into its core vertical markets. &uot;The size of this round demonstrates incredible support by the investment community for Celarix and speaks volumes to the growth potential of this market,&uot; said Doug Smith Doug Smith may refer to:
This investment positions Celarix to embark on Verb 1. embark on - get off the ground; "Who started this company?"; "We embarked on an exciting enterprise"; "I start my day with a good breakfast"; "We began the new semester"; "The afternoon session begins at 4 PM"; "The blood shed started when the partisans the next level of its vision and execute a strategy that both extends its offerings to shippers and expands its services to transportation providers. &uot;This funding is earmarked for strategic acquisitions and the development of new services, benefiting both shippers and service providers,&uot; said Evan Schumacher, CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. and co-founder of Celarix. &uot;The strong backing we've received from our investors is important validation See validate. validation - The stage in the software life-cycle at the end of the development process where software is evaluated to ensure that it complies with the requirements. of our business model and the approach we've taken to helping companies leverage the Internet to improve their transportation and logistics processes.&uot; About Celarix Based in Boston, Mass., Celarix, Inc., was founded in August 1998 by experts from the supply chain, logistics, technology and transportation industries. Celarix provides shippers and transportation service providers with comprehensive, integrated applications that combine the ability to manage the procurement of transportation services and the logistics process on-line. By uniting the power of web-hosted software applications with the speed and accessibility of the Internet, Celarix empowers professionals responsible for the logistics and transportation process to make informed decisions with measurable results. For more information on Celarix and its solutions, access the company's website at www.celarix.com. |
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