Flexport raises US$65m to fund global expansion

Flexport new warehouse Vietnam

Flexport has announced a Series B funding round of $65m to fund global expansion, bringing the total capital raised by the business to $94m.

The new funding was mainly provided by existing Flexport investors, including Founders Fund, Bloomberg Beta, Felicis Ventures, First Round Capital, Susa Ventures and Yuri Milner. These companies were joined by a new investor, Joe Lonsdale of 8VC. Trae Stephens from Founders Fund will join the Flexport board.

The funding will assist Flexport in its efforts to hire and retain new employees, as well as aiding the company’s international expansion. In 2016, the company has already opened offices in Amsterdam, New York, and Hong Kong, employing more than 30 people in those locations. Flexport states that its current employees speak a combined 35 languages.

Source: Flexport

SUBSCRIBE TO LOGISTICS BRIEFING:

Get the latest logistics news and high level analysis delivered straight to your inbox:

  • Create a password
  • By clicking submit you consent to creating a Logistics Briefing account