Revenova Raises $63 Million To Accelerate Transportation Innovation

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Revenova announced it has raised $63 million from Viking Global Investors aimed at supporting the company's growth in the commercial transportation sector.

The funds will enable Revenova to expand its product innovation, customer service and development teams, along with expanding its sales and marketing, said Charles Craigmile, CEO, president and co-founder of Revenova.

"I am excited about joining forces with Viking to accelerate our growth," Craigmile said in a statement. "We chose Viking as a partner because of their alignment with our strategy and market vision, and commitment to providing long-term capital."

Bannockburn, Illinois-based Revenova is a cloud-based provider of transportation management solutions for shippers, brokers and 3PLs across North America. The company's technology provides solutions for pricing, booking, tracking and settling freight shipments.

Revenova's TMS solutions operate natively on the Salesforce cloud platform and are designed to serve as an enterprise solution across all modes of transportation utilized through Salesforce.

"Revenova is the only multimodal TMS and fleet management application built entirely on the Salesforce platform," Craigmile said. "Now, with Viking as a partner, we have the fuel to enhance our TMS solutions and more rapidly expand our products across the 3PL and fleet management markets."
Viking Global Investors is a Connecticut-based hedge fund that specializes in early and late-stage ventures. Founded in 1999, the firm manages $47 billion worth of capital for investors.