In February, it raised $935 million in a Series E funding round that values it at $8 billion nearly triple its last reported valuation in 2019, according to PitchBook data. Existing investors including DST Global, Founders Fund, SoftBank's Vision Fund I and former Greylock VC Kevin Kwok also participated in the round. It also rolled out a number of new services and locations and raised $1 billion from an investor group led by Softbank Vision Fund. JSI uses funds from your Treasury Account to purchase T-bills in increments of $100 par value (the T-bills value at maturity). Far, far from it. Flexport says its Transmission app shaves 40 minutes from ship to chassis. The cuts were also ineffective, crushing employee morale for minimal savings. Its freight service includes an online dashboard for businesses to easily understand, purchase, manage, and track the services required for global trade. CB Insights Intelligence Analysts have mentioned Flexport in 14 CB Insights research briefs, most recently on Nov 10, 2022. Flexport Skip to content JPMorgan reveals details of First Republic deal in investor presentation For most everyone else in the logistics business, it was exasperating. Having already spent the first of SoftBanks $500 million, he realized he needed to shift course. For Flexport, it was a marketing masterstroke, though Petersen swears that wasnt his intent. In the US alone, Flexport has to deal with 43 different trade regulators. Before taking action based on any such information, we encourage you to consult with the appropriate professionals. Visibility is a solution to a problem that shouldnt exist, says Adam Banks, the former chief technology and information officer for Maersk, the worlds second-largest ocean carrier, with $40 billion in annual revenue. Use of these cookies, which may be stored on your device, permits us to improve and customize your experience. Flexport owns no trains, planes or ships of its own. Flexport Is Silicon Valley's Solution To The Supply Chain - Forbes As an investor, you are normally granted access to company-wide performance data such as sales, revenue, profit or loss statements, and so forth. Flexport's latest funding round was a Line of Credit for $200M on October 20, 2022. Even when importers are willing to pay a premium for a specific spot on a boat on a certain day, capacity has been so limited that no amount of premium payments are sufficient because the existing contracted space is the entire capacity of the transporter ships. Where? Investors including Andreessen Horowitz and Michael Dell's MSD Partners are valuing the logistics tech at $8 billion. Flexport Platform Manage your supply chain Order Management Collaborate on orders Customs Clear goods, gain insights Climate Offset carbon emissions Transportation Ocean Freight Ship in a few clicks Air Freight Fly for faster arrivals Less than Container Ship any volume Trucking Go intermodal or direct Shopify Shipping When the virus reached Flexports backyard, it scrounged up tens of thousands more to reroute to local hospitals. Early in lockdown, he sent hundreds of thousands of units of personal protective equipment to Wuhan, Chinathen set his team to routing much more back when the virus reached U.S. shores, booking special planes to ship masks by the millions while rallying the public to donate funds.
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