Logistics Company With a Digital Edge Launches Office in Seattle

Flexport is looking to disrupt the freight-forwarding business after raising $1 billion
Updated: Wed, 03/13/2019 - 13:30
 
 
  • Flexport is looking to disrupt the freight-forwarding business after raising $1 billion

Digitally savvy freight-forwarding company Flexport is opening an office in downtown Seattle, the company’s 12th location globally, it’s sixth in the U.S. and first in the Pacific Northwest.

Although the local office will start out small, with about a dozen employees, the company, which employs a software-focused freight-management strategy that allows customers to handle all of their freight business through one platform, is gaining steam fast in the $2 trillion global freight-forwarding sector. Since it was launched in 2013, Flexport has grown its roster to encompass some 10,000 clients and suppliers, helping them manage all aspects of their supply chain operations, according to the company’s website.

In addition, the San Francisco-based company, which owns its own 747 aircraft and employs more than 1,000 people across three continents, recently announced a $1 billion funding round led by SoftBank’s Vision Fund, according to Forbes. Other investors include Founders Fund, DST Global, Cherubic Ventures, Susa Ventures and SF Express, according to Forbes, which says the company is valued at $3.2 billion.

“Now our squads can deliver even better service to the Pacific Northwest and Canadian companies we're fortunate to work with,” says Flexport Chief Executive Officer Ryan Petersen, adding that Washington state is a major destination for eastbound transpacific trade. “Combine that with the state’s proximity to other shipping hubs like Oregon and British Colombia [Canada], and this is a major step towards our goal of becoming the largest shipper from Asia to the U.S.

Related Content

The new building, dubbed the Summit, will double the convention center's existing capacity

The company says it is creating an urban campus in the city that prioritizes public transportation and a sustainable lifestyle

The company says it is creating an urban campus in the city that prioritizes public transportation and a sustainable lifestyle

Keep an eye on these pacesetters in the year ahead

The deal amplifies the organization’s ability to accelerate the success of women-founded businesses nationally, founder says

The Female Founders Alliance (FFA), a Seattle-based organization focused on accelerating the success of women-founded, venture capital-scalable companies, has acquired New York-based Monarq Incubator.