CNF Ventures invests in Veredex Logistics

by Canadian Shipper

Veredex Logistics has received a second round of financing from CNF Ventures. Veredex Logistics is a provider of supplier selection for sameday shippers.

“CNF Ventures’ support provides validation for the notion that a company can profit in the sameday market with the right strategy.”said Don Whitbeck, Chief Executive Officer of Veredex.

Also participating in the financing was Greybrook Corporation, a Toronto based investment group that supplied Veredex’s first round financing. A total of four million was raised with an additional $6 million expected before the round closes.

“The highly fragmented nature of the sameday delivery market has prevented the emergence of a national offering – until now. Veredex was able to do what no other company could- aggregate the services of delivery suppliers across North America and present them to shippers like a single supplier,” said James M. Balestra, Managing Director of CNF Ventures.

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