www.logistics.comLogistics.com Gets Funding
Oct 1, 2001 12:00 PM
Logistics.com has received $25 million in additional backing in a round led by Internet Capital Group. This supplements $39 million already received to bring total financing to $64 million.
This funding caps a year of rapid growth, both in terms of customer base and technology. Growth can be attributed to Logistics.com systems representing short- to medium-term investments that carry a return on investment typically less than two months.
In recent months, Logistics.com has established a multi-year, multi-million-dollar transportation contract with PPG Industries Inc, as well as contracts with Staples Inc and The Gillette Co. Logistics.com also saved The Limited Inc $1.24 million over the prior year's shipping costs, with full project payback within two months.
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