BEIJING, Feb. 15, 2022 /PRNewswire/ — G7 announced raising US$200 million led by Trustbridge Partners and CS Capital, while early investors also participated in the funding.
G7 is a leading software service provider in China’s road freight industry. It offers IoT-powered Subscription Solutions and Transaction Solutions to freight managers. According to market research, G7 is the largest enterprise software company in China’s road freight sector.
China has the world’s largest road freight market and freight managers in China have strong demand for digitalizing their business through adoption of enterprise software services. G7 has unique IoT capabilities which are fundamental for providing software services to the road freight industry. In the past three years, G7 successfully expanded its services from Subscription Solutions to Transaction Solutions, while its revenue continues to grow driven by strong up-selling and cross-selling.
The fund raised will be mainly used in product research and development and improvement in customer services.
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* Freight managers are companies and organizations which manage the operation, safety, transaction and equipment of road freight. The main types of freight managers include truck fleets (either captive or independent), shippers, 3PLs, trading companies and manufacturers. According to BCG’s research, approximately 80% of the road freight transport capacity in China are managed by around 700,000 freight managers. |
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