Veredex Logistics Gets Financial Backing
Veredex Logistics, a Canada-based logistics supplier for same-day shippers, has garnered nearly $4 million in investments during its second round of financing. The majority, the company said, has come from CNF Ventures – a financial firm owned by $6-billion transportation company CNF Inc.
Veredex said CNF Ventures took the lead role in its second round of financing, along with Greybrook Corp., a Toronto-based investment group that supplied Veredex’s first-round financing. An additional $6 million is expected to be garnered before the round closes, Veredex said.
“The highly fragmented nature of the same-day delivery market has prevented the emergence of a national offering until now,” said James Balestra, managing director of CNF Ventures. “Veredex has been able to aggregate the services of delivery suppliers across North America and present them to shippers like a single supplier.”
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