On-demand warehousing and fulfillment company Flexe announced a $43 million Series B funding round on May 7.
The Seattle-based startup will use the new funds to accelerate the development of its technology platform, more than double the size of its team and continue to build the on-demand warehousing category, Flexe co-founder & CEO Karl Siebrecht said in a blog post.
Activate Capital and Tiger Global Management led the round, with additional participation from Madrona Venture Group and follow-on investments from current investors Redpoint Ventures, Prologis Ventures, and others.
The Series B round brings the total amount of money the company has raised to $63.5 million.
Flexe is essentially the Airbnb of warehouse space. It has created a marketplace of spare storage space, and merchants book that space through via an easy-to-navigate platform.
The company tripled its revenue in 2018 and last week implemented an upgrade that simplifies integrations, unlocks at-a-glance performance insights, and delivers new levels of operational transparency and traceability, Siebrecht said.
“We believe that the inevitable future of logistics is technology-driven and on-demand. Our vision of goods moving seamlessly, when and where they’re needed, requires this and the services Flexe provides,” he said.
Freight Fraud Symposium
Double brokering. AI deepfakes. Identity theft. Freight fraud is an existential threat to the industry. Get ahead of it.
Supply Chain AI Symposium
Past the hype. Join operators, founders, and enterprise leaders figuring out how to deploy AI in supply chain.
Future of Rail Symposium
Reshoring is rewriting freight demand. Join shippers, rail executives, and government officials to shape the next decade.
Double brokering. AI deepfakes. Identity theft. Freight fraud is an existential threat to the industry. Get ahead of it.
Rock & Roll Hall of Fame • Cleveland, OH Register NowPast the hype. Join operators, founders, and enterprise leaders figuring out how to deploy AI in supply chain.
The Old Post Office • Chicago, IL Register NowReshoring is rewriting freight demand. Join shippers, rail executives, and government officials to shape the next decade.
The Signal at Chattanooga Choo Choo • Chattanooga, TN Register Now