Flexport, a San Francisco, CA-based platform for global logistics, raised $935m in Series E funding.
The round was led by Andreessen Horowitz and MSD Partners with a strategic investment from Shopify, as well as participation from existing partners DST Global, Founders Fund, SoftBank Vision Fund 1, and other investors including Kevin Kwok. The investment brings Flexport’s post-money valuation to over $8 billion. Bob Swan, Growth Operating Partner at Andreessen Horowitz, will join Flexport’s board of directors, and representatives from Shopify and MSD Partners will join as board observers.
The company will use the capital to accelerate development of its platform and to continue to expand into new geographies and markets.
Led by Ryan Petersen, founder and CEO, Flexport is a platform for global logistics—empowering buyers, sellers and their logistics partners with the technology and services to grow and innovate. Companies of all sizes—from emerging brands to Fortune 500s—used the technology to move nearly $19B of merchandise across 112 countries in 2021.
The company expects the financing to close in the first quarter subject to customary closing conditions, including the receipt of regulatory approvals.
FinSMEs
07/02/2022