NCT Ventures Announces Exit from Seamless Logistics, Ltd.
Represents 3rd Successful Exit from NCT Ventures Fund I
COLUMBUS, Ohio (August 5, 2014) – NCT Ventures, a Columbus-based venture capital firm, specializing in early-stage and early-growth technology companies, announced today that it has completed the exit of its position in Seamless Logistics, Ltd. through a buyout from the company's owners. The terms of the deal are not being disclosed.
"Seamless logistics benefited tremendously in our 3 year relationship with NCT," shared Michael Flinner, Co-Founder of Seamless Logistics. "Both financially and strategically, NCT has helped us propel our vision of becoming a leader in the transportation and logistics industry."
Seamless is a logistics provider that has developed a centralized marketplace for business logistics transportation services for small to mid-sized companies. Following NCT's initial investment in Seamless in 2011, NCT provided hands-on support to help the company develop and launch a streamlined customer interface system to quote, monitor and document freight. The system allows customers more visibility to their less-than-truckload (LTL) shipments. The system is also being sold in a Software-as-a-Service (SaaS) model under the name myLTL.com.
"This is a win-win for everyone involved," said Rich Langdale, Managing Partner of NCT Ventures. "We enjoyed working with the Seamless team in developing their technology and scaling their business. This exit provides us with an attractive return while helping the owners achieve their vision for the direction and future growth of the company."
Columbus-based Seamless Logistics is the third company that NCT Ventures Fund I has successfully exited from its portfolio, following Embrace Pet Insurance and ClearSaleing.
About NCT Ventures
NCT Ventures is a venture capital firm dedicated to helping entrepreneurs build great companies that solve big world problems. NCT provides a platform for entrepreneurs to succeed in turning their ideas into profitable business models through hands-on operational support. Over the last decade, NCT's team has helped build many successful companies in the Midwest by investing in companies with disruptive business models that create greater efficiency in focus market sectors. NCT's focus areas include: Adtech, Big Data, Communications, Edtech, Energy, Medtech, and Retail Technology. For more information, visit http://www.nctventures.com/.
Associate, NCT Ventures