Funding round
Flexport Growth
Reported as "Growth Equity"
Flexport, which works in logistics solutions in Amsterdam, raised $1.00B in a Growth round announced on 21 Feb 2019, led by SoftBank Vision Fund, at a $3.20B post-money valuation. 6 firms took part, 6 of them already investors. It is Flexport's fifth venture round on record; the one before was a Growth in Apr 2018.
$1.00B
Amount raised
$3.20B
Post-money valuation
$2.20B pre-money
6
Investors
1 lead
3.5x
Step-up from the Series C
$910M in Oct 2017
31%
Stake sold
new money over the post-money
Valuation
What this round says about the price
This round priced Flexport at $3.20B after the new money, 3.5 times the $910M of its Series C (Oct 2017). The $1.00B bought investors about 31% of the company. It came 10 months after Flexport's Growth. It is 45% of the $2.22B Flexport has raised in the venture rounds on record. Flexport raised again 36 months later: a Series E round of $935M in Feb 2022, at $8.00B post-money.
Flexport's funding rounds
Flexport has 6 venture rounds on record and 2 other deals. This one is highlighted.
- Seed 14 May 2015 $6.9M
- Series B 26 Sep 2016 $65M$320M post-money
- Series C 6 Oct 2017, led by DST Global $110M$910M post-money
- Growth 30 Apr 2018 $100M
- Growth this round 21 Feb 2019, led by SoftBank Vision Fund $1.00B$3.20B post-money
- Series E 7 Feb 2022, led by Andreessen Horowitz and BDT & MSD Partners $935M$8.00B post-money
- Debt not a venture round 20 Oct 2022, led by KKR $200M
- Debt not a venture round 18 Jan 2023 $260M
Investors
Who put money in
SoftBank Vision Fund led the round with 5 other firms. SoftBank Vision Fund, Founders Fund, DST Global and Cherubic Ventures and 2 more had backed Flexport before.
Lead investor
- SoftBank Vision Fund backs 234 venture-backed companies existing investor
Also in the round
- Founders Fund backs 368 venture-backed companies existing investor
- DST Global backs 179 venture-backed companies existing investor
- backs 37 venture-backed companies existing investor
- backs 108 venture-backed companies existing investor
- SF Express existing investor
Joined the board: Michael Ronen (SoftBank) and Ed Shrager (SoftBank).
Use of proceeds
What the money is for
According to the announcement, the money goes to hiring, product development, geographic expansion, sales and marketing, scaling operations and working capital.
- Hiring
- Product development
- Geographic expansion
- Sales and marketing
- Scaling operations
- Working capital
Comparable rounds
How it compares
The closest in time, other companies' Growth rounds in Trucking and Logistics:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Trucking and Logistics | 24 Jul 2019 | $32M | not disclosed | Peloton Equity |
| Trucking and Logistics | 13 Jul 2018 | $250M | not disclosed | InnoVision Capital |
| Trucking and Logistics | 12 Mar 2018 | $740K | not disclosed | not named |
Sources
Where this comes from
Reported by 5 sources.
Questions
Frequently asked
How much did Flexport raise in its Growth round?
Flexport raised $1.00B in its Growth round, announced in Feb 2019.
Who led Flexport's Growth round?
SoftBank Vision Fund led it, with Founders Fund, DST Global, Cherubic Ventures, Susa Ventures and SF Express.
What was Flexport's valuation at the Growth round?
$3.20B post-money ($2.20B pre-money).
Did Flexport raise again after this round?
Yes: a Series E round in Feb 2022 of $935M at $8.00B post-money.