Funding round
Flexport Series C
Flexport, which works in logistics solutions in Amsterdam, raised $110M in a Series C round announced on 6 Oct 2017, led by DST Global, at a $910M post-money valuation. 5 firms took part, 3 of them already investors. It is Flexport's third venture round on record; the one before was a Series B in Sep 2016.
$110M
Amount raised
$910M
Post-money valuation
$800M pre-money
5
Investors
1 lead
2.8x
Step-up from the Series B
$320M in Sep 2016
12%
Stake sold
new money over the post-money
Valuation
What this round says about the price
This round priced Flexport at $910M after the new money, 2.8 times the $320M of its Series B (Sep 2016). The $110M bought investors about 12% of the company. It came 13 months after Flexport's Series B. It is 5.0% of the $2.22B Flexport has raised in the venture rounds on record. Flexport raised again 6 months later: a Growth round of $100M in Apr 2018. Its next priced round, a Growth in Feb 2019, valued it at $3.20B.
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 this round 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
DST Global led the round with 4 other firms. DST Global, Founders Fund and Susa Ventures had backed Flexport before.
Lead investor
- DST Global backs 179 venture-backed companies existing investor
Also in the round
- Founders Fund backs 368 venture-backed companies existing investor
- backs 108 venture-backed companies existing investor
- Wells Fargo Strategic Capital new investor
- Felicis backs 237 venture-backed companies new investor
Joined the board: Rahul Mehta (DST Global).
Use of proceeds
What the money is for
According to the announcement, the money goes to geographic expansion, scaling operations, acquisitions and working capital.
- Geographic expansion
- Scaling operations
- Acquisitions
- Working capital
Comparable rounds
How it compares
The closest in time: 1 in Trucking and Logistics, then Series C rounds in any sector within 6 months:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Trucking and Logistics | 3 Apr 2018 | $7.7M | not disclosed | not named |
| Mapbox Tech Companies | 10 Oct 2017 | $164M | not disclosed | SoftBank Vision Fund and SoftBank |
| Lalamove Shipping Couriers | 11 Oct 2017 | $100M | not disclosed | Shunwei Capital |
| Device Manufacturing | 3 Oct 2017 | $95M | $1.60B | Goldman Sachs |
| Travel Agencies | 25 Oct 2017 | $60M | not disclosed | Sequoia Capital and Goldman Sachs |
| Kiavi Loans & Financing | 17 Oct 2017 | $57M | not disclosed | not named |
| Tech Companies | 17 Oct 2017 | $50M | not disclosed | Undisclosed Investor |
| Biotechnology | 5 Oct 2017 | $47M | not disclosed | not named |
Sources
Where this comes from
Reported by 5 sources. The deal data marks this round as not yet confirmed by an official announcement. Unconfirmed
Questions
Frequently asked
How much did Flexport raise in its Series C round?
Flexport raised $110M in its Series C round, announced in Oct 2017.
Who led Flexport's Series C round?
DST Global led it, with Founders Fund, Susa Ventures, Wells Fargo Strategic Capital and Felicis.
What was Flexport's valuation at the Series C round?
$910M post-money ($800M pre-money).
Did Flexport raise again after this round?
Yes: a Growth round in Apr 2018 of $100M.