Accel-KKR Credit Partners provided debt financing to support the next stage of growth for Trax Technologies, a transportation spend management and payments company serving global shippers with logistics ecosystems.
Trax Technologies offers a software platform that streamlines freight auditing, cost allocation, logistics data processing and analytics, payment automation and settlements. Trax Technologies serves the global multi-modal market, including the freight, air, ocean, rail and parcel segments. The company is backed by technology investors Strattam Capital and Spire Capital.
“We are a technology-first organization,” Hamp Wall, CEO of Trax Technologies, said. “The freight audit industry has historically been very manual, but Trax is laser-focused on utilizing the latest technologies to increase the maturity and resiliency of our clients’ logistics networks. This strategic direction differentiates us from the competition. With this financing, we look forward to continuing to lead the space through innovation.”
“The world has never seen such a constrained logistics market, with shippers and 3PLs constantly challenged to manage budgets and cash flow while increasing capacity and responsiveness,” Robert Morse, a partner at Strattam Capital, said. “Trax offers transparency and expense management control over this critical cost of goods while enabling large, global shippers to identify trends and make timely and strategic cost decisions.”
“This is a pivotal time for the freight audit industry,” Sean White, a partner at Spire Capital, said. “Trax is a pioneer in moving beyond the traditional audit function to a cloud-first software platform that enables global visibility, control and insights across all modes, all carriers and all regions. Trax has successfully built a scaled platform, yet the team remains very attuned to the customer’s evolving needs. We are excited to welcome Accel-KKR’s software lending and investing experience in helping Trax grow.”
“Logistics spend is a meaningful part of the global economy,” Samantha Shows, managing director at Accel-KKR, said. “Trax’s software is mission-critical to its customers and provides an essential function in operational efficiency, cost management and working capital improvements for both shippers and suppliers. We are excited to support Trax in their next stage of growth.”
Accel-KKR Credit Partners is a credit fund managed by Accel-KKR, a software-focused investment firm.
