May 25, 2024

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Flexe is raising more cash as investors continue betting big on logistics startups

2 min read

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(Flexe Picture)

Seattle startup Flexe is increasing extra income to bolster its market made use of by stores to purchase on-desire warehousing area.

A new SEC filing reveals that the corporation has elevated $67.9 million of a more substantial spherical. The company declined to comment on the filing when arrived at by GeekWire.

Source chain management startups set a history for funding final calendar year as their software aided firms that were being scrambling amid volatility triggered by the pandemic. Flexe has also observed huge tailwinds from the acceleration of on line revenue through the pandemic.

Flexe CEO Karl Siebrecht. (Flexe Photo)

Just earlier Thursday, Seattle electronic freight startup Convoy announced a $260 million spherical at a $3.8 billion valuation.

Flexe past raised hard cash in late 2020, bringing in $80 million as element of a Sequence C spherical.

Started in 2013, Flexe describes by itself as a “warehousing-as-a-service” firm, supporting vendors flip what was usually a set expenditure into a variable price. Its consumers do not have to have to commit millions into extensive-phrase warehouse leases they just pay out for what they have to have at a specified time.

It’s identical to how fork out-as-you-go cloud computing solutions these kinds of as AWS or Azure changed the want for a business to acquire and run their personal knowledge facilities.

“Traditional warehousing is a ton like classic facts facilities,” Flexe CEO Karl Siebrecht beforehand advised GeekWire.

Flexe also gives firms a way to go stock closer to exactly where consumers are living, cutting down shipping occasions. Which is essential as Amazon continues to make 1- and 2-day delivery the industry normal.

“Measure the influence of exact-day delivery on income across diverse areas, extend into new marketplaces, and compete right with Amazon without the need of the risk of mounted investments,” the company notes on its web-site.

Siebrecht, formerly an govt at aQuantive and AdReady, co-started the organization with Edmond Yue and Francis Duong after they attended a housewarming social gathering and achieved an entrepreneur who complained about getting warehouse place for his barware business. Siebrecht is a finalist for CEO of the Year at the GeekWire Awards.

Flexe employs 450 men and women. Its previous investors consist of T. Rowe Price tag, Activate Capital, Tiger International, Madrona Venture Group, Redpoint Ventures, Prologis Ventures, and other folks.

Other logistics and e-commerce software program startups from the Seattle region that have elevated funding about the past number of several years contain Shipium, Logixboard, Stackline, Cloth, FlavorCloud, Pipe17, Pandion, and SoundCommerce.



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