• ITVI.USA
    15,701.720
    -28.590
    -0.2%
  • OTRI.USA
    26.820
    -0.010
    0%
  • OTVI.USA
    15,663.790
    -28.050
    -0.2%
  • TLT.USA
    2.630
    0.000
    0%
  • TSTOPVRPM.ATLPHL
    2.930
    -0.060
    -2%
  • TSTOPVRPM.CHIATL
    3.600
    -0.030
    -0.8%
  • TSTOPVRPM.DALLAX
    1.560
    0.040
    2.6%
  • TSTOPVRPM.LAXDAL
    2.920
    0.040
    1.4%
  • TSTOPVRPM.PHLCHI
    2.320
    0.000
    0%
  • TSTOPVRPM.LAXSEA
    3.340
    0.080
    2.5%
  • WAIT.USA
    124.000
    2.000
    1.6%
  • ITVI.USA
    15,701.720
    -28.590
    -0.2%
  • OTRI.USA
    26.820
    -0.010
    0%
  • OTVI.USA
    15,663.790
    -28.050
    -0.2%
  • TLT.USA
    2.630
    0.000
    0%
  • TSTOPVRPM.ATLPHL
    2.930
    -0.060
    -2%
  • TSTOPVRPM.CHIATL
    3.600
    -0.030
    -0.8%
  • TSTOPVRPM.DALLAX
    1.560
    0.040
    2.6%
  • TSTOPVRPM.LAXDAL
    2.920
    0.040
    1.4%
  • TSTOPVRPM.PHLCHI
    2.320
    0.000
    0%
  • TSTOPVRPM.LAXSEA
    3.340
    0.080
    2.5%
  • WAIT.USA
    124.000
    2.000
    1.6%
StartupsWarehouse

Flexe lands $43M in Series B

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.

Linda Baker, Senior Environment and Technology Reporter

Linda Baker is a FreightWaves senior reporter based in Portland, Oregon. Her beat includes autonomous vehicles, the startup scene, clean trucking, and emissions regulations. Please send tips and story ideas to lbaker@freightwaves.com.