DALLAS, Aug. 14, 2023 (GLOBE NEWSWIRE) -- Trax Technologies (“Trax” or “the Company”), the global leader in Transportation Spend Management (TSM) solutions, today announced the appointment of Blake Tablak as CEO. Tablak succeeds Hampton Wall, who will transition to the role of special advisor.

Tablak brings a proven track record of navigating complex market dynamics in enterprise software and leading businesses as they scale. In his most recent role at ProcessMAP, Tablak redefined the strategy and focus and led the company through a successful acquisition by Ideagen. He previously held global leadership positions at Udacity, Workiva, and Topia, where he was responsible for driving innovative go-to-market strategies to accelerate sales.

“I look forward to leading and accelerating the growth of this incredible organization,” said Tablak. “Trax is a global leader in helping customers unlock valuable freight audit and payment data insights to optimize costs and ensure compliance. The talented team here at Trax is adept at driving innovation, capitalizing on emerging opportunities, and delivering outstanding value to our customers, strategic partners, and stakeholders.”

“Blake has the perfect background and skill set to lead Trax through its next stage of growth,” said Sean White, Trax Board Member. “Trax’s software is mission-critical to our customers as supply chains become increasingly complex, and we feel Blake is attuned to our customers’ needs.”

“Blake is a proven executive with a track record of growing cloud-based software companies at scale. His appointment will continue to elevate Trax’s position as a market leader in Transportation Spend Management solutions,” said Bob Morse, Trax Board Member. “Blake's vision is to deliver an increasingly valuable suite of logistics products to Trax’s customers, arming them with the tools to identify trends, make strategic cost decisions, and better manage their entire supply chain ecosystem.”

“The Board of Directors and the entire Trax executive team extend their heartfelt appreciation to Hampton Wall for his invaluable contributions to the company's success and his efforts establishing the strategic investment by Triumph Bank,” said Dave Dawson, Trax Board Member.

This news follows the announcement that Trax will leverage the TriumphPay payments network to deliver fraud protection, automated payments, and funds security for transportation payments. TriumphPay is the premier payments network for freight brokers, factors, shippers, and carriers in the North America trucking industry.

About Trax Technologies
Trax is the global leader in Transportation Spend Management solutions. Trax elevates traditional Freight Audit and Payment with a combination of industry leading cloud-based technology solutions and expert services to help enterprises with the world's more complex supply chains better manage and control their global transportation costs and drive enterprise-wide efficiency and value. With a global footprint spanning North America, Latin America, Asia and Europe, Trax delivers data-based visibility and insights, higher savings and better control of transportation spend for shippers and 3PLs/4PLs of all sizes. For more information, visit www.traxtech.com.

About Strattam Capital
Strattam Capital invests in founder-led, independent, B2B software technology companies outside of Silicon Valley. Headquartered in Austin, Texas, we connect companies with the people, process, and scale needed to reach their potential. We believe in aligning with founders before signing, via our Five-Point Plan process, to allow execution with purpose, excitement, and efficiency. For more information, please visit Strattam.com.

About Spire Capital
Spire Capital (https://spirecapital.com/) is an active and experienced private equity firm with an investment focus in middle market companies within the technology-enabled business services, media, communications and education sectors. Spire Capital was founded on the principle of partnering with management teams and founders to help effectuate the next stage of growth for their companies. Spire professionals have a broad array of past operating, investing and advisory experiences they leverage to help portfolio companies accelerate growth, guide strategic direction and execute their business plan. Spire Capital is a New York-based investment advisor registered with the Securities and Exchange Commission under the Investment Advisers Act of 1940.

Spire Capital Management, LLC is a New York-based investment adviser registered with the Securities and Exchange Commission under the Investment Advisers Act of 1940. Registration as an investment adviser does not imply a certain level of skill or training. The Funds managed by Spire are unregistered, privately offered funds and are comprised only of private equity investments. Spire does not solicit or make its services available to the public or other advisory clients. This press release is intended solely to provide information regarding Spire’s potential capabilities for prospective portfolio companies and is not an offer to sell to any person, or a solicitation from any person of an offer to buy, any securities. This is not considered an advertisement, testimonial or endorsement of the advisory services of Spire Capital Management, LLC nor an offer to provide new advisory services.

MEDIA CONTACT
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