Today we are thrilled to announce that Flexport has raised $20 million in Series A financing. This brings our total capital raised to-date at $26.6 million.
Peter Thiel of Founders Fund led the round. Existing investors A-Grade Investments, Bloomberg Beta, Cherubic Ventures, First Round Capital, Fuel Capital, Funders Club, Google Ventures, Susa Ventures, and Y Combinator were joined by new investors including Ceyuan Ventures, Felicis Ventures, and Fenway Summer.
We began with the mission to fix the user experience in global trade. To do this, we have built a global freight forwarding company from the ground up on a modern technology backbone.
We provide global freight forwarding and logistics services to some of the fastest growing brands in fashion, wearables, home automation, educational toys, and enterprise tech. This new funding round gives us the confidence to invest even more aggressively in our business model that combines technology, deep domain expertise, and a worldwide network of logistics assets.
Flexport is a global freight forwarder and an enterprise software company. Each of our clients gets a dedicated team of logistics managers that works tirelessly to move their products, while keeping their Flexport account up to date with accurate data. Companies use our powerful online dashboard for a variety of logistics services – including freight quoting, booking, real-time shipment tracking, customs compliance, cargo insurance, supply chain visualization, analytics, and scenario planning.
All of our services are backed by an in-house team of fully-licensed Customs brokers and trade compliance experts who help our clients comply with both the letter and spirit of all relevant trade laws.
Flexport’s engineers are relentlessly improving our internal software tools to make our teams more efficient, while automating away processes traditionally carried out through rote labor. The results are fewer errors, elevated compliance standards, reduced delays, and dramatically lower transaction costs.
We are fortunate to operate at the intersection of the Internet and global trade – two of the the greatest forces for good. We are honored to have world-class investors supporting us on this challenging and rewarding adventure.
As Paul Graham once told us, “Flexport is one of those rare startups that will not merely satisfy its market, but grow it. There will be more international trade because of Flexport, and international trade is a very big thing for there to be more of.”
Published on August 7th, 2015