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Demand For Logistics Systems Brings $10M To Open Harbor

German logistics network provider Deutsche Post Ventures led this second round of funding, which also included Japan's Mitsubishi International and previous investors Alloy Ventures and New Enterprise Associates.
Increased demand for online logistics technology has landed Web-based trade services provider Open Harbor $10 million in funding.

German logistics network provider Deutsche Post Ventures led this second round, which also included Japan's Mitsubishi International and previous investors Alloy Ventures and New Enterprise Associates.

The San Carlos, Calif., company hosts software that automates transactions, as well as systems that update databases with changes in international trade regulations in various countries. The software tracks transactions based on guidelines established by its customers and uses algorithms to analyze global databases to alert cutomers to security issues.

The aftermath of the Sept. 11 attacks has heightened awareness of supply-chain logistics and the importance of shipping companies having proper documentation, says Ian Morton, a software analyst with J.P. Morgan H&Q. Open Harbor's approach of hosting its software gives it an advantage over vendors who only sell software licenses, says Morton.

Open Harbor plans to use the new funding to develop its software and services, as well as expand offices and hosting facilities in California, Chicago, and Washington, D.C.