Flexport started with the bold mission to fix the user experience in global trade.
Today we’re pleased to announce an important milestone: We’ve raised $6.9M in seed funding from great investors including First Round Capital, Google Ventures, Bloomberg BETA, and Y Combinator.
We created Flexport because we think international trade is still too hard for most companies. Global supply chains are characterized by lack of visibility, confusing paperwork, complicated regulations, rampant price discrimination, and unpredictable delays.
To compound the problem, importers and exporters have to the manage entire process by telephone, email, fax, and courier. That’s a tragedy because international trade is one of the most powerful forces for good the world has ever seen.
Our technology platform enables a network of hundreds of the strongest air, ocean and trucking providers to collaborate and coordinate shipments in real time.
Flexport’s San Francisco-based engineering team is building software to improve processes handled by armies of people on the phone at traditional freight forwarders. This automation eliminates errors and delays while driving down costs, allowing us to bring enterprise-grade logistics services to companies of all sizes.
Meanwhile, Flexport’s team of fully-licensed customs brokers, freight forwarders, and compliance experts ensures that our clients and partners strictly follow both the letter and spirit of all relevant trade laws.
Our customers now include companies in consumer electronics, robotics, and 3D printing along with larger e-commerce businesses that each import hundreds of millions in goods.
Flexport’s online dashboard lets these companies check freight prices, book shipments, route cargo, manage inventory, and get notified of exceptions. And by structuring their supply chain data in meaningful ways, we give them reports and analytics they can actually use.
Paul Graham, founder of Y Combinator says, “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.”
This new funding will allow us to invest even more in engineering, partner development, marketing, and especially, customer service.
We are thrilled to be working with some of the world’s best investors to bring our vision of a hyper-connected global trade network to fruition. Because of all they’ve done, we want to thank each of our investors by name. The list is long, but distinguished:
Acequia Capital, A-GRade Investments, Bloomberg BETA, Box Group, Cherubic Ventures, First Round Capital, Fuel Capital, Funders Club, Google Ventures, Hydrazine Capital, Inside Capital, Kindling Capital, Lunch Van Fund, Susa Ventures, SV Angel, TYLT Lab, Winklevoss Capital Fund, and Y Combinator.
Our round was also joined by a distinguished group of angels including Alexis Ohanian, Anja Manuel, Ashton Kutcher, David Lerner, David Lieb, Garry Tan, George Strompolos, Gianni Martire, Gustavo Alberelli, Harj Taggar, Ian Roncoroni, Jarred Colli, Jeff Epstein, Jeff Natland, Josh Reeves, Lee Linden, Matt Humphrey, Mike Cardamone, Mikhail Seregine, Naveen Jain, Paul Buchheit, Paul Sethi, Ram Shriram, Sam Altman, Scott Banister, Scott Belsky, Sean Harper, Sheel Mohnot, Steve Fan, Trapp Lewis, Tyras Bookman, Wesley Chan, Yuri Sagalov, and Zac Bookman.
We take the stewardship of both their precious capital and good names very seriously. Together we‘re going to do everything in our power–and many things not yet in our power–to fundamentally improve the way companies move goods around the world.