Flexport has announced it has raised $935m in funding – led by Andreessen Horowitz and MSD Partners, along with a partnership with new investor Shopify and continued support from existing partners DST Global, Founders Fund, Softbank Vision Fund, and other investors including Kevin Kwok.
In 2021, Flexport moved nearly $19bn in merchandise across 112 countries and has a new valuation of $8bn.
The new capital will be used to accelerate the development of its technology platform, continued expansion into new geographies and markets, as well as helping support logistics technology innovation with new start ups to increase the efficiency of supply chains.
Flexport considers technology platforms as the way forward, powering every part of the economy: how the world buys and sells, pays and gets paid, and run companies in the cloud. According to Flexport many industries have embraced enhanced platforms, but supply chains and logistics are behind on these advances. Many importers still rely on unstructured data in emails, attachments, and spreadsheets. With very few robust logistics APIs on the market, they can’t see where their goods are on a map, or learn about issues in time to handle them without costly delays.
Flexport is becoming an important platform for modern businesses. It has built the a logistics platform to connect the entire ecosystem of global trade, giving buyers, sellers and logistics providers solutions to grow. It has more than 10,000 brands worldwide utilising its expertise and end-to-end solutions to move their businesses forward.
Source: Flexport
