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Venture Capital News: Pacejet Logistics Lands $4.5M in Series C

COLUMBUS, OH, Provider of cloud shipping solutions, is pleased to announce the initial closing of $4.5 million of Series C funding.
Pacejet Logistics, Inc., a provider of cloud shipping solutions, is pleased to announce the initial closing of $4.5 million of Series C funding, led by Athenian Venture Partners. The capital will be used primarily to expand resources and activities in business development, sales and marketing resources with the goal of growing the company's enterprise shipping solution.

Pacejet is the first logistics and shipping solution provider to fully exploit cloud-based architecture. Pacejet's 100% cloud-based platform seamlessly integrates leadingenterprise resource planning (ERP) systems as well as dozens of regional, national and international carriers, enabling users to get real-time quotes and rate-shop instantly. The solution is a fully-functional, robust and high-volumetransaction processing system that increases efficiencies across the logistical supply chain and reduces transportation costs.

'Pacejet is ideally positioned to benefit from the growing need for corporate efficiency and the fast transition to cloud-based systems in all facets of information technology,' said Ron Lee, CTO and Co-Founder, Pacejet Logistics.

'Pacejet is excited to work with such a reputable organization in the investment community to partner with us to accelerate growth, continue to build customer advocates, and take our efforts to the next level to be the preferred enterprise shipping solution connecting shippers directly with carriers real time via the cloud.'

'Pacejetis poised to be a leader in cloud-based logistics management,' said Fran├žois Helou, Senior Partner with Athenian Venture Partners 'The Company has a substantial base of revenue and is growing its cloud division at a rapid rate.With its success in advancing product engineering, Pacejet continues to align perfectly with Athenian's investment strategy: to seek out companies with a sustainable vision, deep management bench and unique products that provide necessary solutions to real business problems.'

PaceJet has previously received funding from employee and angel investors, as well as funding from the state of Ohio.

About Pacejet
Pacejet is the next generation cloud-platform for enterprise shipping that delivers efficient and cost-effective results for businesses. Integrated with the industry's leading Enterprise Resource Planning (ERP) systems, Pacejet helps companies ship more efficiently, deliver outstanding customer service and reduce overall shipping costs. Users can experience multi-carrier shipping, get real-time freight quotes and rate-shop instantly and benefit from integrated automation without software or multiple carrier websites.

About Athenian Venture Partners
Athenian Venture Partners identifies and cultivates intellectual capital in two of the most dynamic market segments: Information Technology and Healthcare. The Athenian team takes a thoughtful approach to investing, doing the rational work upfront with accountability to both its investors and its portfolio companies. With a presence in California, Massachusetts and Ohio, Athenian Venture Partners spans the most interesting technology and healthcare communities to create new investment opportunities others may miss and deliver proven results for the long term.
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