SOURCE: Catapult International

Catapult Ocean and Air Freight Pricing System - Catapult QMS

December 21, 2010 16:26 ET

Catapult International Secures Growth Equity Funding From Five Elms Capital

Investment Positions Catapult to Expand Service Offering

KANSAS CITY, MO--(Marketwire - December 21, 2010) - Catapult International, the developer of a cloud-based rate management solution for international shippers and freight forwarders, is excited to announce that it has closed on its first round of institutional financing. Led by Five Elms Capital (www.fiveelms.com), the capital infusion of roughly $2 million will allow Catapult to expand its software development and ramp up sales. The company has been operating under the radar for the last two years, developing its rate management software through feedback from large shippers and freight forwarders. The resulting solution is a flexible and efficient rate management tool that provides visible ROI when booking and invoicing international freight shipments. Users of Catapult's rate management offering include ITT, Econocaribe, and Crane Worldwide.

"The value of the solution that Catapult has developed is not only found in the software's functionality and flexibility, but also in its pricing structure," said Fred Coulson, Founder of Five Elms Capital. "When a new client is signed, most of Catapult's competitors charge high upfront fees and require long-term contracts. Catapult offers a superior product with low upfront fees and no long-term contracts, instead relying on superior service and technology to retain clients."

For Forwarders: Catapult's solution allows freight forwarders around the world to accurately quote ocean and air shipping rates in seconds, despite the complexity of multiple carrier relationships, surcharges, and trade routes.

For Shippers: Catapult provides an easy to manage portal and decision engine to evaluate rates from both carriers and preferred forwarders, allowing shippers to quickly book a shipment from any global office. Catapult's clients reduce the time required to retrieve quotes and save by easily evaluating the low-cost carrier for all trade routes.

"We are excited to bring on Five Elms as a capital and strategic partner. The capital they are providing will allow us to continue providing a flexible rate management tool while further developing our software offering," said Matt Motsick, CEO of Catapult International. "We feel that innovation in rate management technology has lagged over the last five years. Many current alternatives are unresponsive to rapidly changing industry conditions. We recognize that each customer has different needs and are able to easily customize our offering."

About Catapult International
Catapult International (www.catapultqms.com) provides ocean and air rate management to forwarders and shippers around the world. The company's best-in-class software and rate management service ensures clients are able to quickly and accurately quote freight rates.

About Five Elms Capital
Five Elms Capital (www.fiveelms.com) provides expansion, recapitalization, and acquisition capital to high-growth businesses in a wide range of service-based industries.