Trax Group, Inc. (“Trax Group” or the “Company”) provides software-enabled transportation spend management solutions to large, global enterprises. The Company’s solutions help clients optimize transportation spend and achieve significant cost savings through freight bill audit and payment, improved supply chain visibility, and better collaboration with shippers. The Company’s vast network of connections to trading partners and the resulting unique access to timely transportation spend data supports advanced analytics for end-to-end transportation spend visibility and management. The Company provides its services to more than 150 customers (including over 15 Fortune 100 customers) around the world and across multiple end market verticals, including consumer retail (e.g., Coca-Cola, Nike, Starbucks), technology & telecommunications (Apple, Sprint, etc.), financial services (e.g., Citibank, Goldman Sachs), and healthcare (e.g., AbbVie, Pfizer), among others. In total, Trax Group currently manages approximately $10 billion of transportation spend on behalf of its clients. The company is headquartered in Austin, Texas and has nine additional offices throughout the United States, Europe, Asia, and Central America. Trax Group was formed in June 2018 through the merger of Veraction, which was largely owned by Spire Capital, and Trax Technologies, which was largely owned by Strattam Capital.
Investment InformationInitial Investment Date: March 28, 2014
Status: Current Portfolio Company
Headquarters: Irving, TX