Mobitrac Secures Funding to Support Rapid Company Growth, Expanding Customer Base and Aggressive Product Roadmap.CHICAGO -- Mobitrac's Next-Generation Transportation Execution System Manages Fleet Profitability in Real-timeMobitrac Inc., the first supplier of a new generation of transportation execution systems, today said it has received $8.3 million in funding from U.S. Venture Partners, Frazier Technology Ventures, Arch Development Arch Development, a rock band from Richmond, Virginia, was formed in 2005 by lead guitarist Spencer "ViE" Bonnevie, and bassist Chris Thomas. Soon after, guitarist Blake Cotton joined their group. Their positions for drummer and lead singer are undecided as of late. Partners, Illinois Ventures, Illinois Finance Authority and Mentor Management to support rapid company growth, an expanding customer base and an aggressive product roadmap. Mobitrac's next-generation transportation execution system manages fleet profitability in real-time. It is based on sophisticated patented modeling technology that makes it possible for transportation firms to manage fleet profitability and performance in real-time. For the first time, transportation managers have the power of profit-based fleet planning, real-time fleet visibility and the ability to make profit-based adaptations to real-world conditions in real time. Mobitrac's platform strategy addresses transportation execution market requirements for a more responsive and dynamic fleet management system that can adjust to changing business conditions on a real-time basis. This is crucial to maximize a fleet's profitability. The solution, which is quickly and easily deployed within existing transportation center environments with little or no impact to current IT infrastructure and business processes, facilitates vehicle and fleet-wide decision making based on four factors: reliable route planning, real-time fleet performance visibility, continuous future predictability and the ability to instantly adapt the fleet plan to uncertain and changing real-world driving conditions. Mounting pressures on improving efficiencies are driving firms in the transportation business, or firms that depend on transportation, to demand a new generation of capabilities from transportation execution systems. The growth of transportation execution systems fills a critical fleet management capability gap. While most transportation-related enterprises have invested in supply chain technology that manages processes only up to and including their warehouses, these systems provide little control into what happens when orders/inventory leave the shipping dock and are delivered to customers. This creates a significant profitability and performance management gap. Some suppliers have addressed the warehouse/customer gap through pre-day planning systems See spreadsheet and financial planning system. , but these are typically based upon hypothetical Hypothetical is an adjective, meaning of or pertaining to a hypothesis. See:
This growing profitability and performance management gap is driving the industry to demand a new generation of transportation execution systems that dynamically manage processes after orders/inventory leave the shipping dock. These solutions must develop route plans based on real-world predictions and an intelligent scenario-based approach of identifying what would most likely happen given a variety of situations and conditions. Additionally, they must keep profitability, on-time delivery and customer satisfaction at the forefront. Such a system must model dynamically, learning from the prior day's real-world events and the daily operation of vehicles, drivers and conditions. As a result, using wireless vehicle location technology, new generation systems must enable organizations to redeploy re·de·ploy tr.v. re·de·ployed, re·de·ploy·ing, re·de·ploys 1. To move (military forces) from one combat zone to another. 2. vehicles based on relevant up-to-the minute information. The Mobitrac board includes Tim Harvie, former CIO CIO: see American Federation of Labor and Congress of Industrial Organizations. (Chief Information Officer) The executive officer in charge of information processing in an organization. of USF USF University of South Florida USF Universal Service Fund (often part of phone bill in US) USF University of San Francisco USF University of Sioux Falls USF University of St. and a respected veteran of the transportation, distribution, warehousing and logistics industries. According to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. Harvie, "I have been in the transportation industry for 20 years, and as a CIO, I've seen plenty of software solutions and heard plenty of vendor promises. Mobitrac has developed the first functionally-rich, easily integrated, high-performance solution capable of delivering on the promise of truly dynamic dispatch In computer science, dynamic dispatch is the process of mapping a message to a specific sequence of code (method) at runtime. This is done to support the cases where the appropriate method cannot be determined at compile-time (i.e. statically). and routing, ultimately achieving the dramatic profit and performance improvements the transportation industry has been seeking for many years." A seasoned management team leads the company, including President and 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. Mike Liddell, who has served in several executive management positions in the software and semiconductor industries. "The market has been clamoring clam·or n. 1. A loud outcry; a hubbub. 2. A vehement expression of discontent or protest: a clamor in the press for pollution control. 3. A loud sustained noise. for the ability to manage fleet profitability in real-time," said Liddell. "We enable this by combining profit-driven route planning with the ability to make profit and customer service driven adaptations to route plans in the face of real-world operating conditions." According to Tim Connors, general partner at U.S. Venture Partners, "Mobitrac has a committed team, world-class customers, 100% customer satisfaction, game-changing impact and a solution that deploys in eight weeks and requires little change in the enterprise. It isn't surprising to see the rapid demand we have witnessed for this type of solution." "Mobitrac is creating a new market category in transportation execution software," said Gary Gigot, general partner, Frazier Technology Ventures of Seattle. "It's a smart, usable USable is a special idea contest to transfer US American ideas into practice in Germany. USable is initiated by the German Körber-Stiftung (foundation Körber). It is doted with 150,000 Euro and awarded every two years. and valuable software platform that delivers measurable impact on a customer's income statement. In addition, with its Microsoft.Net focus, hosted model and subscription pricing, it is a next-generation software company." The company's headquarters are located at 20 N. Wacker Drive Wacker Drive is a major street in Chicago, Illinois, United States, running along the south side of the main branch and the east side of the south branch of the Chicago River. , Suite 2000 in Chicago, IL 60606. Interested parties may obtain more information by calling 312-442-4450 or emailing info@mobitrac.com. About Mobitrac (www.mobitrac.com) Mobitrac is the first provider of a new generation of transportation execution software, making it possible to manage fleet profitability in real-time. Mobitrac combines route optimization optimization Field of applied mathematics whose principles and methods are used to solve quantitative problems in disciplines including physics, biology, engineering, and economics. and asset management with the ability to make customer service driven adaptations to route plans in the face of real-world operating conditions. Mobitrac accomplishes this by leveraging patented technology to continually gather real-time location information and predictively model future positions of mobile assets. Using Mobitrac, fleet personnel can plan profit-based routes, execute daily dispatches and adapt in real-time to dynamic changes in the field. This ensures complete visibility, productivity, adaptability a·dapt·a·ble adj. Capable of adapting or of being adapted. a·dapt  a·bil and profitability of fleet
performance. The company's solutions are used by less-than
truckload truck·load n. The quantity that a truck can hold. truckload n → camión m lleno (LTL LTL - Linear Temporal Logic ), private fleet, pickup Pickup A gain in yield made by selling one bond and buying another. Also referred to as "yield pickup." Notes: When the present yield is relatively low compared to the longer-term yields, pickups will be done by investors trying to increase the yield and duration of their & deliver (P&D), specialty and service fleet organizations. Founded in 2001 and based in Chicago, Mobitrac is privately owned and funded by U.S. Venture Partners, Frazier Technology Ventures, Arch Development Partners, Illinois Ventures, Illinois Finance Authority and Mentor Management. All trademarks contained herein are the property of their respective owners. |
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