Press release
Magnus announces Series A Financing to Accelerate Growth in Trucking Industry
Growth capital from LKCM Headwater will further advance SaaS-based Magnus TMS AUSTIN, Texas, Nov. 8, 2021 /PRNewswire/ -- Magnus Technologies, an enterprise
About this update from The Carlyle Group Inc.
[{"type":"text","content":"Growth capital from LKCM Headwater will further advance SaaS-based Magnus TMS\n\n\nAUSTIN, Texas, Nov. 8, 2021 /PRNewswire/ -- Magnus Technologies, an enterprise trucking and logistics management software provider, announces the completion of its Series A growth financing with LKCM Headwater. The new funding builds on previous investments by global investment firm Carlyle (NASDAQ: CG) and BCG Digital Ventures, the corporate innovation and business building arm of Boston Consulting Group.\n\n \n \n \n \n \n \n\n \n\"LKCM Headwater is excited to provide growth capital for proven products and management teams to accelerate growth.Magnus has 20 years of experience developing and deploying enterprise transportation management software (TMS) platforms for truckload and less-than-truckload carriers of all sizes, beginning with a market leading TMS solution for auto haulers.\nThe new capital investment in Magnus will accelerate growth for the company's enterprise Software-as-a-Service (SaaS) TMS platform in the $700 billion domestic truckload, less-than-truckload, and freight logistics market.\n\"Most TMS suppliers are still using an outdated client-server technology stack. This requires transportation companies to make large, up-front investments in hardware and software and endure long implementation cycles,\" said Matt Cartwright, Chief Executive Officer of Magnus Technologies. \"Our modern, SaaS-based TMS platform delivers unmatched functionality at higher levels of security, stability and efficiency.\"\nMagnus chose to partner with LKCM Headwater for the private equity firm's solid understanding and experience in transportation and logistics, among other industrial sectors, to help Magnus tackle the complexities of growth.\n\"LKCM Headwater is excited to provide growth capital for proven products and management teams to accelerate growth. In the case of Magnus, we see an incredible opportunity to partner with Matt and his team to bring an already robust and forward thinking TMS platform to the broader market,\" said Jonathon Miller, Principal of LKCM Headwater, a private equity firm based in Fort Worth, Texas.\nTransportation companies that use legacy client-server TMS have SaaS-based versions of electronic logging devices (ELDs), fuel payments, and many other systems. Cartwright sees an accelerated migration to SaaS-based TMS now ...