Copyright 2002, Traffic World Magazine
Supply-chain management company Celarix Inc. has raised $17 million in a round of financing led by Austin Ventures, one of the largest venture capital firms in the United States. Austin joins Celarix's existing investors, who also participated in this latest round of funding, to bring the total investment in Celarix to more than $75 million.
In addition to Austin Ventures, all of Celarix's investors, including Charles River Ventures, JP Morgan Capital, TL Ventures, Integral Capital Partners and Technology Crossover Ventures, funded this round.
Cambridge, Mass.-based Celarix says it will use the funding for operations and further product development, while expecting to break even in the next six months. "We have experienced rapid growth in our customer base and revenue since the company's inception in 1998," said Jim Daniell, CEO for Celarix.