3PLEX SECURES $12 MILLION IN 3RD-ROUND FUNDING
3Plex, the Cambridge, Mass.-based provider of Web-based transportation solutions, for third-party logistics companies, has closed on $12 million in third-round financing, bringing the total funding to $28 million.
Polaris Venture Partners and BancBoston Ventures served as co-lead investors in the round, joined by CNF Ventures and others.
3Plex said it plans to use the funds to continue development of its Transportation Operating System and drayage products and to support the product rollout. The company is targeting the third-party logistics market, which is estimate to exceed $200 billion by 2004.