Catapult International, a Kansas City, MO-based developer of a cloud-based rate management solution for international shippers and freight forwarders, has closed on a nearly $2m first round of financing.
The round was led by Five Elms Capital.
The company intends to use the capital to continue to develop its software and ramp up sales.
Catapult’s rate management software allows: freight forwarders to accurately quote ocean and air shipping rates in seconds, despite the complexity of multiple carrier relationships, surcharges, and trade routes; and shippers to quickly book a shipment from any global office. It is used by ITT, Econocaribe, and Crane Worldwide.
The company, which is led by CEO Matt Motsick, also operate offices in San Francisco, Amsterdam, Fuzhou, China.