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Seattle gets a new unicorn; logistics player Flexe raises $119M and reaches over $1B valuation

Flexe team
Image credits: Flexe

Flexe, a Seattle-headquartered logistics leader that solves the hardest omni-channel logistics problems, has raised $119 million in Series D funding. With this round, the company has attained unicorn status with a post-money valuation of over $1 billion.

Who invested in Flexe?

The round saw participation from funds and accounts managed by BlackRock (which invested in SumUp and AlphaSense) and follow-on investment from Activate Capital, Madrona Ventures, Prologis Ventures, Redpoint Ventures, funds and accounts advised by T. Rowe Price Associates, Inc. and T. Rowe Price Investment Management, Inc. and Tiger Global.

Flexe continues to see accelerated demand for its logistics programs. An uncertain macroeconomic environment, rapidly shifting consumer behaviours, forecast variability and supply chain gridlocks have led retailers and brands to strategically embrace logistics flexibility.

The investment comes at a time when enterprises accelerate its logistics program adoption.

“Flexe uniquely helps enterprise retailers and brands solve big supply chain challenges and excel in uncertain environments,” said Samir Menon, BlackRock Private Equity Partners. “Flexe has demonstrated that programmatic logistics deliver value for the world’s most demanding companies. We’re pleased to partner with a category creator that is transforming a massive industry.”

“Despite changing economic conditions, Flexe added nearly as many enterprise customers in the first six months of 2022 as it did all of last year and continues to see strong demand,” said Karl Siebrecht, Co-Founder and CEO at Flexe. “Our model allows organizations to scale fast in strong economic environments and reduce risk, capital investment and long-term commitments when they face uncertainty.”

Solves omni-channel logistics problems

Founded in 2013 by Edmond Yue, Francis Duong and Karl Siebrecht and headquartered in Seattle, it started as a scalable warehousing solution. It didn’t take long to recognise a massive opportunity to deliver flexible logistics programs for e-commerce and omni-channel retail and came up with its own logistics model.

This new model unites on-demand warehousing with flexible e-commerce fulfillment, distribution, and transportation through a single technology platform.

Flexe solves the most difficult omni-channel logistics problems for the world’s largest retailers and brands. It integrates technology, open logistics networks, and elastic economic models allows Flexe customers to move fast, at scale, and with precision.

Flexe brings deep logistics expertise and enterprise-grade technology to deliver innovative e-commerce fulfillment, retail distribution, same-day delivery, and network capacity programs.

It is one of the largest networks of world-class logistics providers. It is a single platform to execute, manage, and optimise logistics programs.

Six of the ten largest retailers and four of the five largest consumer packaged goods companies work with Flexe to run programmatic logistics as part of their supply chain strategies.

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