Funding round
Flexport Series B
Flexport, which works in logistics solutions in Amsterdam, raised $65M in a Series B round announced on 26 Sep 2016, at a $320M post-money valuation. 7 firms took part, 6 of them already investors. It is Flexport's second venture round on record; the one before was a Seed in May 2015.
$65M
Amount raised
$320M
Post-money valuation
$255M pre-money
7
Investors
no lead named
20%
Stake sold
new money over the post-money
Valuation
What this round says about the price
This round priced Flexport at $320M after the new money. The $65M bought investors about 20% of the company. It came 16 months after Flexport's Seed. It is 2.9% of the $2.22B Flexport has raised in the venture rounds on record. Flexport raised again 13 months later: a Series C round of $110M in Oct 2017, at $910M 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 this round 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 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
7 firms took part; no lead investor was named.
Investors
- Founders Fund backs 368 venture-backed companies existing investor
- Bloomberg Beta existing investor
- Felicis backs 237 venture-backed companies existing investor
- backs 212 venture-backed companies existing investor
- backs 108 venture-backed companies existing investor
- 8VC new investor
- DST Global backs 179 venture-backed companies existing investor
Joined the board: Trae Stephens (Founders Fund).
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: 1 in Trucking and Logistics, then Series B rounds in any sector within 6 months:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Trucking and Logistics | 20 Jul 2016 | $10M | not disclosed | Goldman Sachs |
| Zuoyebang Learning, Tutoring & Courses | 28 Sep 2016 | $60M | not disclosed | GGV Capital and Xiang He Capital |
| Ripple Cryptocurrency | 15 Sep 2016 | $55M | not disclosed | SBI Holdings |
| Medical Laboratories | 27 Sep 2016 | $45M | not disclosed | General Catalyst |
| Food delivery | 29 Sep 2016 | $40M | not disclosed | L Catterton |
| Cato Networks Tech Companies | 22 Sep 2016 | $30M | not disclosed | Greylock Partners |
| Toss Business Payment Processing & Point of Sale | 29 Sep 2016 | $24M | not disclosed | Goodwater Capital and Qualcomm Ventures |
| Tech Companies | 21 Sep 2016 | $20M | not disclosed | Evolution Media Partners |
Sources
Where this comes from
Reported by 4 sources.
Questions
Frequently asked
How much did Flexport raise in its Series B round?
Flexport raised $65M in its Series B round, announced in Sep 2016.
Which investors took part in Flexport's Series B round?
Founders Fund, Bloomberg Beta, Felicis, First Round, Susa Ventures and 8VC and 1 more.
What was Flexport's valuation at the Series B round?
$320M post-money ($255M pre-money).
Did Flexport raise again after this round?
Yes: a Series C round in Oct 2017 of $110M at $910M post-money.