NTE Gets $53M in Private Investments
Private firms kicked in $53 million toward the National Transportation Exchange's efforts to match empty long-haul trailers with shippers.
NTE President James Davidson said the exchange will use the money to expand sales, develop more electronic commerce products and step up business-to-business marketing efforts.
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Generation Partners and several other venture capital firms shelled out the money during the Downers Grove, Ill., company's fourth round of private equity financing.
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The company executes automated transactions between shippers and carriers. Its members include 310 carriers, 197 shippers and 24 carrier/shippers, said Marie Graul, NTE's chief financial officer.
