Today we confirmed the news that Flexport has closed a $110 million Series C funding round led by DST Global, and joined by existing investors including Founders Fund and Susa Ventures. With the exception of Wells Fargo, who also made an equity investment in the round, almost the entire round was contributed by existing investors. We are excited to welcome Rahul Mehta of DST Global as an observer on Flexport’s board of directors.
In the last twelve months we’ve grown our team to 500 employees in nine global offices, we’ve grown revenue by 3.7X, and Flexport is now a top-25 freight forwarder on the transpacific, ranking alongside the most established and respected names in logistics.
We raised this round because we have proof that our model works, and that means it’s time to double down. Flexport is solving real problems in one of the world’s biggest markets, offering our clients greater visibility, more accurate data, more transparent pricing, and better customer service than conventional wisdom thought possible.
We’re achieving that by using software to connect everyone who touches the global supply chain, whether it’s factories coordinating bookings, logistics teams collaborating on imports, or dispatchers relaying pickup details to truckers.
Trade is inherently social, and with every supply chain stakeholder who joins our platform, we get one step closer to fulfilling our dream of powering a seamless web of commerce. We won’t let up until we’ve made global trade easy for everyone on Earth.
Thank you to our investors for sharing this vision, to our amazing team for working every day to make it a reality, and to our clients for inspiring everything we build.
– Ryan Petersen