CarrierPoint Completes $1.3 Million First Round Funding
ATLANTA, GA, November 2, 1999 /PR Newswire/
CarrierPoint, the leading digital marketplace for the
Trucking and Shipping industries is excited to announce
the completion of its first round of funding.
CarrierPoint's investors include, U.S.-based iXL Enterprises
(Nasdaq: IIXL), CyberLab Ventures, William E. Simon
and Sons, and individual members of Deutche Bank Alex
Brown's management team. CarrierPoint will use the funds
to complete the beta development of its core technology,
as well as the hiring of key management team members.
CarrierPoint is the only digital marketplace that enables
carriers to dynamically price shipments in the $100
Billion LTL and TL industries. CarrierPoint's solution
replaces the antiquated "spot market" found in the industry
today.
"CarrierPoint may be the best-positioned e-commerce
solution to crack the code in the $100 Billion Trucking
industry" said Bert Ellis, Chairman and CEO, iXL Enterprises.
"Their solution gives CarrierPoint first-mover advantage."
Ashish Bahl, SVP of Financial Services for iXL Enterprises
also added, "The first round investment in CarrierPoint
has been extremely strategic in nature, and should lay
the foundation for substantive business momentum over
the next few months."
"We are very excited about the strategic value our
investors bring to CarrierPoint," said John Thomson,
CEO of CarrierPoint. "There are incredible opportunities
to utilize the Internet as a means of improving operations
in the trucking industry, and we strongly believe that
the investors we have chosen to work with will help
us to quickly execute on those opportunities."
"We are pleased to announce that we have made an investment
in CarrierPoint. While the company is just beginning
to ramp up its operations, we feel that the substantial
potential market size coupled with CarrierPoint's strategic
position and significant progress to date promise a
compelling growth trajectory, and we look forward to
supporting the company in its endeavors going forward,"
said Erik Caspersen of William E. Simon & Sons.
SOURCE CarrierPoint, Inc. Web Site: www.carrierpoint.com
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