Media Coverage

DEAL OPENS WAY FOR INTEGRES TO EXPAND
By Bob Shallit—Bee Staff Writer
Logistics Software & Technology

Look for some rapid expansion at Integres now that the Rancho Cordova company has completed a $27 million equity financing deal.

The money, from Silicon Valley-based Technology Crossover Ventures and three of Integres' founding partners, will enable the firm to roll out its Web-based system of coordinating heavy freight shipments for small and medium-size companies.

"It allows us to really focus on our core business, serve our customers and get the company growing," says Jim Hartigan, Integres CEO.

While putting the finishing touches on its Web portal, Integres has been arranging about 25 to 50 daily shipments for Roadway Corp., one of its partners. Over the next couple of weeks, partners United Airlines and American Airlines will be added to the network. After that, another airline and another trucker are to be added.

Hartigan says the new money will carry the company until early next year when it is expected to post its first profit and start looking at a possible public stock offering.

The company now has 55 local employees. Hartigan projects that number to grow to 170 by the end of the year.

The close of the Integres financing is the latest indication that the venture capital market is starting to improve after a dismal 2001. Another local firm, Sierra Logic, recently received a $5.25 million financing deal, and several others are ready to close deals with angel investors and venture capitalists.