New Jersey-based company marks ten years as the leading e-commerce platform for the ocean freight industry
Parsippany, NJ, March 14, 2011 - INTTRA, the leading provider of e-commerce solutions for the ocean freight industry, today announced that the company is celebrating its 10th anniversary. As the largest multi-carrier e-commerce platform for the ocean shipping industry, INTTRA enables shippers, freight forwarders and others in the ocean shipping industry to electronically plan, process and manage their shipments fast and efficiently.
Ten years ago, in April 2001, the first transaction was initiated on the INTTRA platform and the company began its mission to become the preferred e-commerce solution for ocean carriers and their customers to streamline and standardize shipping processes worldwide. Today, INTTRA is the leading multi-carrier portal with more than 30 carriers and more than 65,000 active customer connections in more than 105 countries. INTTRA processes approximately 400,000 container orders each week, representing more than 12 percent of global container trade, and continues to grow and expand its services and add value for its customers.
"INTTRA was founded on the idea that if a company could develop and implement common industry standards for the exchange of information, the entire industry would be more efficient and long term costs would be dramatically reduced," said Ken Bloom, CEO of INTTRA. "Over the past ten years, we have remained loyal to this vision, allowing INTTRA to become the largest, industry-supported, multi-carrier global e-commerce platform in the industry."
In early 2010, INTTRA announced a $30 million investment from ABS Capital Partners, a leading later-stage growth company investor, to accelerate future growth of the company. By supporting the development and delivery of new, value-driven products and services, this investment led INTTRA to achieve a record breaking year with transactions growing to 17.4 million container orders in 2010, supported by a 34% annual growth in ocean e-commerce usage (nearly three times the rate of global container market growth). This investment was preceded by two major milestones for INTTRA in 2009, when the company introduced an industry eInvoice platform and NVOCC (Non-Vessel Operating Common Carrier) product.
"The investment from ABS capital has tremendously accelerated our growth, allowing us to advance electronic invoicing and add value with products and services that will save billions in ocean supply chain costs and improve operational efficiencies throughout the industry," said Bloom. "These developments have provided opportunities to significantly expand our network of carriers, shippers, NVOCCs and alliance partners, allowing for faster adoption of e-commerce in the ocean shipping industry."
In the past five years, the INTTRA network has grown from 2.5 million annual transactions in 2005 to more than 20 million transactions forecasted in 2011. With 50 different software alliances worldwide connected to the INTTRA platform, INTTRA offers an advanced platform that is highly flexible and scalable to meet the global needs of the ocean freight industry today and in the future.
INTTRA is a leading global provider of e-commerce solutions to the ocean freight industry. INTTRA professionals work with over 30 leading carriers and their customers, to streamline and standardize their shipping processes worldwide through a network of more than 20,000 corporate locations. Over 400,000 container orders are initiated on the INTTRA platform each week, representing more than 12 percent of global ocean container trade.
INTTRA, the INTTRA logo, INTTRA-LINK, INTTRA-Desktop, INTTRA-ACT are trademarks or registered trademarks, service marks or registered service marks of INTTRA, Inc. All other product and company names mentioned herein may be trademarks of their respective holders.