Flexport Secures $935 Million Round Series E

<p><strong>SAN FRANCISCO<&sol;strong> &&num;8212&semi; Flexport&comma; a global logistics platform&comma; has secured a massive  &dollar;935 million Series E investment round led by Andreessen Horowitz and MSD Partners with a strategic investment from Shopify&comma; as well as participation from existing partners DST Global&comma; Founders Fund&comma; SoftBank Vision Fund 1&comma; and other investors including Kevin Kwok&period; The investment brings Flexport’s post-money valuation to over &dollar;8 billion&period;<&sol;p>&NewLine;<p>MSD Partners manages money for Dell Technologies Founder Michael S&period; Dell&period;<&sol;p>&NewLine;<p>Flexport plans to use the capital to accelerate development of its technology platform for global logistics and continue building an ecosystem that’s efficient&comma; transparent&comma; and inclusive – everything that logistics isn’t today&period; The investment will also allow the company to continue to expand into new geographies and markets&comma; and further the logistics tech ecosystem by investing in and partnering with new companies in the space&period;<&sol;p>&NewLine;<p>&OpenCurlyDoubleQuote;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&comma;” said Ryan Petersen&comma; founder and CEO of Flexport&period; &OpenCurlyDoubleQuote;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&period;”<&sol;p>&NewLine;<p>The raise follows years of uninterrupted growth for the company&comma; particularly in the last twelve months&colon; Flexport’s revenue more than doubled in 2021 as it moved nearly &dollar;19B in gross merchandise for its clients across 112 countries&period;<&sol;p>&NewLine;<p>&&num;8220&semi;Global trade is facing historic challenges&comma; which demand innovative approaches that address both the current difficulties and more systemic issues&comma;&&num;8221&semi; said David George&comma; General Partner at Andreessen Horowitz&period; &&num;8220&semi;Flexport’s platform&comma; business model&comma; and data-driven insights together uniquely position the company to continue making a substantial impact on this multi-trillion dollar industry&period;&&num;8221&semi;<&sol;p>&NewLine;<p>Bob Swan&comma; Growth Operating Partner at Andreessen Horowitz&comma; will join Flexport’s board of directors&comma; and representatives from Shopify and MSD Partners will join as board observers&period;<&sol;p>&NewLine;<p>&OpenCurlyDoubleQuote;At Shopify&comma; we see first-hand the challenges millions of entrepreneurs face when running their businesses&comma; with logistics being one of the most daunting complexities in commerce today&comma;” said Bram Sugarman&comma; Director&comma; Product Acceleration at Shopify&period; &OpenCurlyDoubleQuote;We are so inspired by the progress Flexport has made in this critical area and are excited to support them in their ambitious mission to modernize the supply chain&comma; breaking down barriers to trade for businesses everywhere&period;”<&sol;p>&NewLine;<p>&OpenCurlyDoubleQuote;Flexport’s extraordinary team&comma; led by a strong founder in Ryan Petersen&comma; is bringing to bear deep industry knowledge and critical technology capabilities in building a logistics sector leader&comma;” said Gregg Lemkau&comma; CEO of MSD Partners&period; &OpenCurlyDoubleQuote;This investment will help accelerate and expand the innovation that will benefit the broader trade ecosystem&period;”<&sol;p>&NewLine;