Flexport, a San Francisco, CA-based technology platform for global trade, secured $100M in funding.
SF Holding (SZSE:002352), a courier company in China, joined existing investors including First Round Capital, Bloomberg Beta, Founders Fund, DST, and Y Combinator.
The strategic partnership allows Flexport to expand its operations in China and around the world.
Founded in 2013 by CEO Ryan Petersen, Flexport provides businesses with global logistics services including air freight, ocean freight, trucking, cargo insurance, customs brokerage, and inventory financing. In 2017, more than 15,000 companies used Flexport to ship $3.8B worth of merchandise between 97 countries.
The company has opened new offices in Los Angeles, Atlanta, and Shenzhen last year, launched its private air freight service, a dedicated 747 that flies twice weekly from Hong Kong to Los Angeles carrying its customers’ cargo this year. It expects to double its warehousing footprint, while opening new offices in Hamburg, Chicago, Taiwan, and Shanghai in 2018.