Freight startup Flexport soars to an $800M valuation
Flexport handles the boring logistics of a trillion-dollar business: the transport of shipping containers around the world. Because the work of freight forwarding seemed so bland, it was long ignored by the tech world. But digitizing the paperwork let Flexport speed up shipping so clients keep less inventory on hand while never running out.
Initially, Flexport was receiving offers valuing it at over $1 billion, but turned those down in favor of a more manageable valuation. Multiple sources now confirm that the startup has completed a $110 million Series C at an $800 million pre-money valuation. The round is mostly filled with existing investors, including DST.