As Flexport continues to play a crucial role in how goods are transported around the world, the Global Supply Chain crisis of this year has thrust Flexport to the fore. Flexport has raised a $935 million series e funding round, which was led by Andreessen Horowitz and MSD Partners. Shopify and their current partners DST Global, Founders Fund, Softbank Vision Fund, and other investors including Kevin Kwok, participated.
Flexport transported goods worth over $19 billion across 112 nations in 2021. Moreover, they are proud to have the support of some of the industry’s finest investors, who at a new valuation of $8 billion believed in their mission, solutions, and team members.
With this money, Flexport will
1. Accelerate the creation of their global logistics technology platform.
2. Continue to grow internationally by entering new regions and markets.
3. Support the development of new companies by investing in logistics technology to improve supply chains’ efficiency, transparency, and inclusivity—all things that they currently lack today.
The CEO and Founder of Flexport, Ryan Petersen, said: “Transportation of commodities, which many people took for granted before the worldwide epidemic and the stress it placed on global supply networks, has become a daily hassle. With this investment, the market is demonstrating its understanding of the necessity for a tech-enabled logistics ecosystem that is resilient and visible enough to handle unforeseen crises of any kind.”
Technology platforms are the future, driving every aspect of the economy, including how they trade goods and services, receive payments, and manage businesses in the cloud. The next crucial platform for contemporary businesses is Flexport. As, their groundbreaking logistics platform connects the whole global trade ecosystem, giving buyers, sellers, and logistics service providers the tools they need to develop new products and expand their businesses. Further, more than 10,000 top brands rely on their knowledge and all-encompassing solutions to advance their operations.
David George, General partner at Andreessen Horowitz said “Global trade is currently confronting historic challenges, which call for creative solutions to both the immediate problems and deeper structural ones. Additionally, the technology, business strategy, and data-driven insights of Flexport uniquely position the organization to keep having a significant influence on this multi-trillion dollar market.” This raise follows a historic year of business expansion in the middle of the most unsettling time in world shipping.