Nistevo's revenue up 41.4%

Nistevo Corp., a provider of Web-based transportation management software, said it posted a 41.4% increase in annual revenue in 2002 and $9.2 million in new contracts. Minneapolis-based Nistevo added that it secured $8 million in funding from Bessemer Venture Partners, Insight Venture Partners and other private parties. It said the funding will support the expansion of the company's collaborative

Nistevo Corp., a provider of Web-based transportation management software, said it posted a 41.4% increase in annual revenue in 2002 and $9.2 million in new contracts.

Minneapolis-based Nistevo added that it secured $8 million in funding from Bessemer Venture Partners, Insight Venture Partners and other private parties. It said the funding will support the expansion of the company's collaborative logistics network technology and expansion into new markets.

Nistevo is a privately held company, and did not release financial results to the public.

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