Flexport

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Flexport Inc.
TypePrivate
Industry
Founded2013; 9 years ago (2013)
FounderRyan Petersen
Headquarters
San Francisco, CA[1]
,
United States
Key people
Ryan Petersen (CEO)
Sanne Manders (COO)
RevenueIncrease US$1.7 billion (2020)
Number of employees
501-1000[2]
Websitewww.flexport.com

Flexport is a freight forwarding and customs brokerage company based in San Francisco, California.[3]

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.[4]

It has raised $304M as of 2017, including $110M in its latest Series C round.[5]

In a 2017 interview to Forbes, Flexport's CEO Ryan Petersen said the company started opening their own warehouses for consolidating cargo customer shipments located in Hong Kong and L.A. with plans "to have a global network where we can load and unload cargo".[6]

In 2021, Flexport participated in seed round investment of Pakistan based trucking startup Bridgelinx.[7]

Growth[]

In May 2015, the company told Chinese media outlet 36kr.com that they were on pace to generate $60M in sales for 2015.[8] 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, First Round Capital and Google Venture.[3][9] In July 2016, it had 420 employees in seven offices, including Atlanta, Amsterdam, Hong Kong and Shenzhen, and was worth $365 million.[9]

In August 2018 Flexport was named the 8th fastest growing company in USA with a three year growth of 15911%.[10]

In 2019, Flexport was named to the 2019 CNBC Disruptor 50,[11] CNBC's annual list of private companies that are transforming the economy, and Inc.'s Best Workplaces.[12]

During the COVID-19 pandemic in 2020, Flexport announced layoffs along with other Silicon Valley tech startups.[13]

References[]

  1. ^ "Ryan Petersen's Flexport Aims To Simplify Global Freight Transport Business". Retrieved 2019-03-18.
  2. ^ https://www.inc.com/profile/flexport
  3. ^ a b Rogers, Bruce. "Ryan Petersen's Flexport Aims To Simplify Global Freight Transport Business". Forbes. Retrieved 2019-03-19.
  4. ^ "FreightTech 25: Flexport demystifies trade with more visibility tools". FreightWaves. 2020-12-23. Retrieved 2021-01-03.
  5. ^ "Freight Startup Flexport Raises $110 Million And Turns Down A $1 Billion Valuation". Flexport. October 26, 2017. Retrieved January 3, 2018.
  6. ^ Adams, Susan. "Flexport Wants To Do For Freight Shipping What FedEx Does For Small Packages". Forbes. Retrieved March 19, 2019.
  7. ^ "Digital freight marketplace BridgeLinx raises $10 million in Pakistan's largest seed funding". TechCrunch. Retrieved 26 November 2021.
  8. ^ "货运业的Uber来了，Flexport开启大宗物流透明化的2.0时代_36氪". 36氪. Retrieved 22 February 2016.
  9. ^ a b Adams, Susan. "Flexport Wants To Do For Freight Shipping What FedEx Does For Small Packages". Forbes. Retrieved 2019-03-19.
  10. ^ "These Are the 10 Fastest-Growing Companies in America in 2018". Inc.com. 2018-08-15. Retrieved 2019-02-14.
  11. ^ staff, CNBC com (2019-05-15). "24. Flexport". CNBC. Retrieved 2020-03-31.
  12. ^ staff, Inc (2019-05-16). "The 346 Best Places to Work in 2019". Inc.com. Retrieved 2020-03-31.
  13. ^ Griffith, Erin (2020-02-24). "As the Start-Up Boom Deflates, Tech Is Humbled (Published 2020)". The New York Times. ISSN 0362-4331. Retrieved 2021-03-12.

External links[]

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