Flexport Inc. is an American

multinational corporation A multinational company (MNC), also referred to as a multinational enterprise (MNE), a transnational enterprise (TNE), a transnational corporation (TNC), an international corporation or a stateless corporation with subtle but contrasting senses, i ...

that focuses on

supply chain management In commerce, supply chain management (SCM) is the management of the flow of goods and services including all processes that transform raw materials into final products between businesses and locations. This can include the movement and stor ...

and

logistics Logistics is generally the detailed organization and implementation of a complex operation. In a general business sense, logistics manages the flow of goods between the point of origin and the point of consumption to meet the requirements of ...

, including

order management An order management system, or OMS, is a computer software system used in a number of industries for order entry and processing. Electronic commerce and catalogers Orders can be received from businesses, consumers, or a mix of both, depending on th ...

trade financing Trade finance is a phrase used to describe different strategies that are employed to make international trade easier. It signifies financing for trade, and it concerns both domestic and international trade transactions. A trade transaction require ...

insurance Insurance is a means of protection from financial loss in which, in exchange for a fee, a party agrees to compensate another party in the event of a certain loss, damage, or injury. It is a form of risk management, primarily used to hedge ...

freight forwarding A freight forwarder, or forwarding agent, is a person or company who, for a fee organizes shipments for individuals or corporations to get goods from the manufacturer or producer to a market, customer or final point of distribution.

and customs brokerage. The company is headquartered in

San Francisco San Francisco (; Spanish language, Spanish for "Francis of Assisi, Saint Francis"), officially the City and County of San Francisco, is the commercial, financial, and cultural center of Northern California. The city proper is the List of Ca ...

California California is a U.S. state, state in the Western United States, located along the West Coast of the United States, Pacific Coast. With nearly 39.2million residents across a total area of approximately , it is the List of states and territori ...

, has thousands of employees and has annual revenues of more than $3.3 billion.

Business

Flexport's software integrates and connects ERP data from various companies involved in a supply chain, which allows them to manage information about cargo and streamline freight processing. It has raised $304M as of 2017, including $110M in its latest Series C round. In a 2017 interview to ''

Forbes ''Forbes'' () is an American business magazine owned by Integrated Whale Media Investments and the Forbes family. Published eight times a year, it features articles on finance, industry, investing, and marketing topics. ''Forbes'' also re ...

'', Flexport's CEO Ryan Petersen said the company started opening their own warehouses for consolidating cargo customer shipments located in

Hong Kong Hong Kong ( (US) or (UK); , ), officially the Hong Kong Special Administrative Region of the People's Republic of China ( abbr. Hong Kong SAR or HKSAR), is a city and special administrative region of China on the eastern Pearl River Delt ...

and

L.A. Los Angeles ( ; es, Los Ángeles, link=no , ), often referred to by its initials L.A., is the largest city in the state of California and the second most populous city in the United States after New York City, as well as one of the world ...

with plans "to have a global network where we can load and unload cargo". In 2021, Flexport participated in seed round investment of Pakistan-based trucking startup Bridgelinx. In 2022, Flexport "raised $935 million in a Series E funding round that values the freight forwarding company at $8 billion". It has raised $2.3 billion since its inception. In June 2022, Flexport announced that

Amazon Amazon most often refers to: * Amazons, a tribe of female warriors in Greek mythology * Amazon rainforest, a rainforest covering most of the Amazon basin * Amazon River, in South America * Amazon (company), an American multinational technology c ...

worldwide consumer chief Dave Clark would be joining Flexport as its new CEO.

Growth

In May 2015, the company told Chinese media outlet 36kr.com that they were on pace to generate $60M in sales for 2015. It had more than 600 customers in 2016. It has increased revenue by 25% every month in the 30 months since Flexport was founded, according to Petersen. As of 2017, Flexport has raised $94 million in venture capital from such investors as Peter Thiel’s

Founders Fund Founders Fund is a San Francisco-based venture capital firm. Formed in 2005, Founders Fund had more than $11 billion in aggregate capital under management as of 2022. The firm invests across all stages and sectors, including aerospace, artificia ...

First Round Capital First Round is a venture capital firm that specializes in providing seed-stage funding to technology companies. Founded by Josh Kopelman Joshua Kopelman is an American entrepreneur, venture capitalist, and philanthropist. Kopelman is best ...

and Google Venture. In July 2016, it had 420 employees in seven offices, including

Atlanta Atlanta ( ) is the capital and most populous city of the U.S. state of Georgia. It is the seat of Fulton County, the most populous county in Georgia, but its territory falls in both Fulton and DeKalb counties. With a population of 498,715 ...

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and

Shenzhen Shenzhen (; ; ; ), also historically known as Sham Chun, is a major sub-provincial city and one of the special economic zones of China. The city is located on the east bank of the Pearl River estuary on the central coast of southern province ...

, and was worth $365 million. In August 2018 Flexport was named the 8th fastest growing company in USA with a three-year growth of 15,911%. In 2019, Flexport was named to the 2019 CNBC Disruptor 50,

CNBC CNBC (formerly Consumer News and Business Channel) is an American basic cable business news channel. It provides business news programming on weekdays from 5:00 a.m. to 7:00 p.m., Eastern Time, while broadcasting talk sho ...

's annual list of private companies that are transforming the economy, and Inc.'s Best Workplaces. During the COVID-19 pandemic in 2020, Flexport announced layoffs along with other Silicon Valley tech startups. In December 2021 Flexport launched the Flexport Certified Partner Network to bring together local expertise and global accessibility.

References

External links

* {{US logistics Companies based in San Francisco Logistics companies of the United States Y Combinator companies Transportation companies based in California Customs brokers