Investment led by Andreessen Horowitz and MSD Partners will accelerate development of pioneering industry technology
Flexport, the platform for global logistics, today announced a $935 million Series E investment round 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.
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“Flexport’s extraordinary team, led by a strong founder in Ryan Petersen, is bringing to bear deep industry knowledge and critical technology capabilities in building a logistics sector leader”
Flexport will use the capital to accelerate development of its technology platform for global logistics and continue building an ecosystem that’s efficient, transparent, and inclusive – everything that logistics isn’t today. The investment will also allow the company to continue to expand into new geographies and markets, and further the logistics tech ecosystem by investing in and partnering with new companies in the space.
“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. “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.”
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The raise follows years of uninterrupted growth for the company, particularly in the last twelve months: Flexport’s revenue more than doubled in 2021 as it moved nearly $19B in gross merchandise for its clients across 112 countries.
“Global trade is facing historic challenges, which demand innovative approaches that address both the current difficulties and more systemic issues,” said David George, General Partner at Andreessen Horowitz. “Flexport’s platform, business model, and data-driven insights together uniquely position the company to continue making a substantial impact on this multi-trillion dollar industry.”