Trax Technologies, a Scottsdale-based cloud technology company, raised $10m in Series B funding.
Backers included River Cities Capital Funds and Capital Southwest Corporation.
The company intends to use the capital to further enhance technologies and services.
Led by J. Scott Nelson, CEO, Trax provides global shippers and transportation carriers with a SaaS platform and managed services to process invoices for freight shipment and logistics services.
Customers include the world’s biggest shippers and their logistics service providers.
In conjunction with the funding, Rob Heimann of River Cities, will join Trax’ board of directors.