oTMS (open Transport Management System) announced that it has raised $6m worth of ‘Series A’ funding led by Matrix Partners China. The investment was led by Matrix Partners and supported by the investment firms Baidu Holdings and Buttonwood Capital, the latter being an ‘angel investor’ in oTMS in 2013.
oTMS is a Shanghai-based company that creates software to help suppliers and transportation companies in China streamline transport processes. It does this through a suite of cloud software & mobile apps designed for the B2B transport sector. Through these platforms shippers and logistics companies can link their transport providers, drivers & cargo receivers on a shared, end-to-end shipment workflow.
While the angel round funding was primarily focused on product development, Series A financing will be used to start promoting oTMS to the market and enhance the company’s marketing and sales activities.
Michael Zuo, a partner at Matrix China said, “Transport is a trillion RMB market in China, but the efficiency of price negotiation, delivery and billing between shippers and carriers almost haven’t change while the overall business environments changed so much. oTMS can consistently provide more value on service to both users and providers of transport services. The unique connection and information loop invented by oTMS connects both big and small companies and brings better service experience to users while raising the competitiveness of their carriers too. That’s exactly what Matrix valued when investing in oTMS.”
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