End-to-end freight forwarding for businesses.
Kehlan Kirwan meets Jan van Casteren of Flexport, one of the world’s hottest start-ups which has raised €25m in investments. Flexport aims to disrupt the trillion-euro shipping industry involved in freight management.
A startup called Flexport has flipped this archaic industry upside down by providing free software that indexes all available carriers into a searchable database used to organize and track shipments.
Enter entrepreneur Ryan Petersen, whose San Francisco start-up, Flexport, aims to bring global freight transport into the 21st century by automating one of the world’s oldest industries. “It’s really all about coordinating complexity,” says Petersen.
Today we are thrilled to announce that Flexport has raised $20 million in Series A financing. This brings our total capital raised to $26.6 million. The round was lead by Peter Thiel of Founders Fund. Existing investors A-Grade Investments, Bloomberg Beta, Cherubic Ventures, First Round Capital, Fuel Capital, Funders Club, Google Ventures, Susa Ventures, and Y Combinator were joined by new investors including Ceyuan Ventures, Felicis Ventures, and Fenway Summer.
Among the most recent deals: Founders Fund, backed by Paypal Holdings Inc. creator Peter Thiel, last month led a $20 million round of funding for a freight-forwarding startup called Flexport Inc., which offers online booking and tracking for cargo shipments.
Uber Technologies Inc. is changing the way people move around cities; Flexport wants to do the same with stuff in the holds of container ships in oceans.
Prior to starting Flexport, Ryan Petersen was a co-founder of ImportGenius.com, a competitive intelligence and market research firm that tracks U.S. ocean freight imports. He is fluent in English, Spanish, Portuguese, French and Chinese.