ShipLogix secures venture capital

ShipLogix secures venture capital

ShipLogix, a provider of a Web-based transportation management system for shippers, carriers and their business partners, has closed on the last tranche of $3 million in financing from investors Alexander Hutton Venture Partners and Odeon Capital Partners.

The capital will support sales and marketing activities with existing supply chain technology partners, value-added resellers and third-party logistics providers.

With the financing, the Seattle company said it expects to achieve positive cash flow in the fourth quarter this year.

Alexander Hutton Venture Partners is a Seattle-based $95 million venture capital firm. Odeon Capital Partners is a limited investment partnership with $115 million in committed private equity capital under management.