COLUMBUS, Ohio, Dec. 4, 2017 /PRNewswire/ -- Pacejet, the leading software platform bringing enterprise business shipping to the cloud, announced today that it has closed a new multi-million dollar funding round led by Plymouth Growth Partners of Ann Arbor, Michigan.
The new capital enables Pacejet to accelerate its growth strategy and to broaden its outreach to global businesses seeking to transform the shipping function from a necessity to a competitive advantage.
"The Amazon effect is driving businesses to think about shipping strategically and use solutions like Pacejet to support sales growth, reduce costs, and improve customer service," said Mark Horne, Plymouth's CEO and Managing Partner. "Pacejet's rapid evolution, combined with its unique market position as the leading cloud-based shipping software for growing businesses, makes it a great addition to the Plymouth portfolio. We're excited to work together with the team to further accelerate growth."
Founded in 2003, Pacejet released the first cloud-based shipping software platform for mid-market and larger businesses. While other shipping software platforms focus on small businesses and mostly parcel shipping, Pacejet created a robust platform with real-time integrations between ERP and WMS software.
This real-time connection offers our customers a deep network of parcel and freight shipping carriers, enabling businesses to immediately reduce costs by as much as 30%, easily implement a broader range of innovative shipping services, and run efficient fulfillment operations.
"Over 80% of online customers are influenced by shipping cost and speed of delivery. What's unique and powerful about Pacejet is how we help businesses continuously innovate and improve shipping operations so they remain competitive," said Ron Lee, Pacejet CTO and CMO. "When businesses have the power of Pacejet integrated into the systems they use for everything else, they can rate-shop to instantly find the best prices and leverage smarter analytics to keep making improvements."
Pacejet manages millions of shipments for businesses in manufacturing, distribution, e-commerce, and retail. Partnerships with leading ERP providers such as Oracle NetSuite, who named Pacejet SuiteCloud Partner of the Year in 2017, helped put Pacejet in a market-leading position. As e-commerce continues to shake up the retail landscape, and businesses move to cloud-based ERP systems, Pacejet's unique formula of parcel and freight in one cloud platform with real-time carrier connectivity and seamless integrations is a great fit for growing businesses.
"We've grown the Pacejet business at 40-50% each of the last three years by working closely with our ERP partners and continuing to launch new innovations with our customers," said Larry DeLeon, Pacejet President. "We're excited to have Plymouth back our vision and help us further solidify our position in the market."
Pacejet transforms the shipping dock into a launch pad for profitability. Providing a best-in-class cloud-based shipping software platform, seamless integration with leading ERP and WMS software systems, and consultative support, Pacejet enables customers to thrive in the 21st century shipping economy. For more information on Pacejet, visit www.pacejet.com.
About Plymouth Growth Partners
Plymouth Growth Partners (formerly Plymouth Ventures) invests in growth stage businesses throughout the Great Lakes region. With over 100 years of combined investing experience, Plymouth takes a flexible approach to partnering with management teams, helping to drive growth, build value and realize full potential. Plymouth focuses on B2B product and services companies that have scalable technology and proven growth. Based in Ann Arbor, Michigan, Plymouth Growth Partners has over $150 million under management and is actively investing out of its fourth fund. For more information on Plymouth Growth Partners and its investments, please visit www.plymouthgp.com.