Great Hill Partners Announces New Investment
Secures Minority Position in Freightquote.comSee Freightquote.com on Great Hills Partners portolfio
BOSTON, Mass
Dec. 14, 2006
Founded in 1998, Freightquote.com and its subsidiaries serve customers across North America.
The company has grown to over 600 employees and annualized revenues of $300 million.
The company is profitable and was not a party to the transaction.
Great Hill Partners acquired a minority ownership position by purchasing approximately $70 million in common stock of Freightquote.com
from existing investors on November 20, 2006.
Matt Vettel, managing partner at Great Hill commented,
“We are excited to partner with the Freightquote.com management team.
They have built an impressive business that addresses a large, underserved market in a cost-effective manner.”
“We are pleased to have Great Hill Partners as investors in our company”, Tim Barton, Freightquote.com founder and CEO, said.
“They bring us great energy and insight that will help us continue our growth.”
About Freightquote.com
Freightquote.com is a leading provider of web-based freight transportation management services for small businesses. Its carrier comparison and shipment administration solutions simplify freight shipping and help customers manage their transportation spend. For more information please visit www.freightquote.com .
About Great Hill Partners
Great Hill Partners is a private equity firm that manages over $1.5 billion in capital and focuses on investing in growth companies operating in the business and
consumer services, media, transaction processing, and software industries. Great Hill Equity Partners III, L.P., is targeting investments of $20 million to $100 million. For more information, visit www.greathillpartners.com.
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