Cube Route Secures $4 Million In Venture Funding
Cube Route, a provider of on demand logistics services, today announced that it has secured $4 million in equity financing from J. L. Albright Venture Partners. This funding will support Cube Route's aggressive business development, sales and marketing initiatives and prepare the company for growth across North America.
"From the time Cube Route went into full production, the company has definitely hit the ground running," said Claude Germain, Cube Route CEO and co-founder. "We have solid backing from the investment community and have also completed a series of successful implementations with leading North American foodservice, transportation, retail and direct to store delivery customers. We truly believe that our logistics service is unique in the industry in its ability to reduce delivery costs and improve service without the need for capital investment."
According to Stuart Lombard, Partner at J.L. Albright Venture Partners, "Cube Route is a company that exhibits all the hallmarks of success. Its service is innovative and fulfills an important market need. Its management team members are among the best logistics solutions specialists in North America. Their strategy is solid and their potential for growth is exceptional. We have absolute faith that this company is well positioned to gain dominance in the logistics management field."
Cube Route delivers the first fully integrated, on demand logistics service that combines advanced tracking, planning and routing functionality with the simplicity of Web-based service delivery. As a managed logistics service, Cube Route delivers all of the technical infrastructure and IT support to enable organizations with dedicated fleets to take control of the delivery process. Created with ease of use and economy in mind, the Cube Route service is a solution that is "built by operators for operators." It is offered on a pay-as-you-go basis, providing users with visibility into their delivery network in real-time, at a fraction of the cost and complexity of point solutions. The Cube Route service has been deployed across a variety of organizations that operate fleets, and is already delivering substantial results that range from improved customer service, lower operating costs, to improved efficiency and greater consistency in operations.
"The upfront costs to license, install and train people on traditional logistics software solutions, along with ongoing integration needs, has made it prohibitively expensive for most operations to achieve visibility into delivery activities. As a result an estimated two-thirds of private/dedicated fleets still rely on paper-based manual systems for route planning and load building," Germain continued. "Our on demand service brings sophisticated capability to organizations of any size, while eliminating up-front costs. Our trials have consistently shown that companies can reduce their operating costs by up to 10% while improving service."
About Cube Route
Cube Route facilitates the deployment and management of the delivery process
for transportation and field service organizations for maximum operational
efficiency. Cube Route is a managed logistics service that enables
businesses to dramatically reduce delivery costs and improve service. Cube
Route's integrated and comprehensive web solutions combine sophisticated
routing, tracking and planning functionality to optimize routes as well as
track and monitor delivery fleets in real-time - at the lowest possible
cost. For additional information on Cube Route and how its on demand
logistics service and platform can impact your organization, visit www.cuberoute.com or call 1-877-227-6883.
About J. L. Albright Venture Partners
Toronto-based J. L. Albright Venture Partners invests in emerging Internet,
e-commerce, networking and software companies with exceptional prospects for
growth, superior technology and a sustainable competitive advantage. For
more information visit www.jlaventures.com.