Case Study: Vastera
Business Model Transformation Accelerates Growth
Situation
- Initial product was a point automation solution to help major exporters (e.g., Nortel, Microsoft, Gateway) more efficiently process regulatory documentation
- Capital and expertise were required to expand the offerings and scale quickly to grab market opportunity
- Battery was sole A round investor, finding the company through targeted logistics software sector research
The Battery Difference
- Actively recruited an executive Chairman and a new team of VPs
- Guided product expansion to include imports
- Repositioned the business to focus on a managed service offering, which led to the signing of a major outsourcing contract with Ford Motor Company
- Facilitated several rounds of additional financing to fuel growth
Result
- Steered the company from $2M to more than $80M in revenue
- Executed a very successful IPO
- Market value was more than $600M when Battery distributed its shares and stepped down from the Board
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