Summit partners acquires MercuryGate

CARY, N.C. & MENLO PARK, Calif. – Summit Partners, a global growth equity investor, has acquired MercuryGate International, Inc., a provider of SaaS-based transportation management system (TMS) solutions.

Co-founded in 2000 by CEO Monica Wooden and president Steve Blough, MercuryGate began with a mission to solve the most complex, high-volume transportation management challenges at an affordable price. Since those early days, the company has grown immensely. Last year alone, the MercuryGate TMS managed more than $70 billion of annual freight spend and supported over 300,000 daily logins from 80 countries.

“We selected Summit Partners among many other suitors because Summit shares our vision and commitment to extend the foundation we have built into a platform for accelerated innovation, global ecosystem enablement, and customer scale,” said  Wooden.

“I was looking for an investment partner that had the growth-oriented strategic and operational resources to take us to the next level, and I found that formula in Summit Partners.”

As part of this transaction, Wooden will transition into a customer-facing role at the company as chief revenue officer, while co-founder and president Blough will continue on as chief product officer.

Joe Juliano, an executive-in-residence (“EIR”) with Summit Partners and software industry leader, will join MercuryGate as president and CEO and will work closely with Wooden and Blough to drive growth and scale initiatives.

Juliano brings a deep background in both supply chain and SaaS software, as well as a demonstrated expertise in optimizing go-to-market strategies, achieving high levels of customer satisfaction and accelerating revenue growth. Prior to joining Summit’s EIR program, he was president and CEO of IQNavigator, a provider of SaaS solutions that enables businesses to source, manage, and pay contingent workforces.

Previously, he was president of RedPrairie, a provider of supply chain, transportation management, and workforce management software, which merged with JDA Software, and he served as president and CEO of PrimeRevenue, a SaaS supply chain financing company.