Freight Forwarder Startup Raises $65 Million for Expansion
Flexport, a startup with freight forwarding and customs brokerage operations, raised $65 million in new investment to help fund further expansion, CEO Ryan Peterson said in a blog post (here). The new investment brings total capital raised for Flexport, which…
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calls itself a "freight forwarder for the Internet age," to $94 million, Peterson said. "We’re reminded everyday just how hard modernizing shipping is," he said. "Logistics is a world of exceptions and we’re surrounded by problems that occasionally seem intractable. So we’ve been fortunate to have visionary, patient investors who have continued to support us round after round." The new money will allow for additional hires and will "let us continue our rapid international expansion," Peterson said.