San Francisco-based freight forwarding and customs brokerage services provider Flexport heralded a $935 million Series E investment round, with this round bringing its post-money valuation to more than $8 billion.
The raise follows years of uninterrupted growth for the company, particularly in the last twelve months, with Flexport’s revenue more than doubling in 2021 as it moved nearly $19 billion in gross merchandise for its clients across 112 countries.
“The global pandemic and the pressure it put on global supply chains has made the transportation of goods—something many people took for granted—a daily pain point,” said Ryan Petersen, founder and CEO of Flexport, in a statement. “This investment signals that the market recognizes the need for a tech-enabled logistics ecosystem that has the visibility and resilience to handle unexpected challenges of any scale.”
In terms of the biggest benefits of this investment for Flexport customers, Manuel Venegas, Flexport Senior Corporate & Financial Communications Manager, told LM that Flexport is most excited to continue serving customers like Lululemon, Bridgestone, and Peloton through its most recent raise.
This raise comes after a monumental year of company growth amidst the most turbulent period in global shipping.
Growth + Change = Opportunity! How are you going to capitalize on the opportunity as a freight broker, agent, dispatcher or box truck carrier!?