Flexe, the programmatic logistics leader, has raised $119m in Series D funding at a $1bn post-money valuation.
The round also included investment from BlackRock and follow-on investment from Activate Capital, Madrona Ventures, Prologis Ventures, Redpoint Ventures, funds and accounts advised by T. Rowe Price Associates, Inc. and T. Rowe Price Investment Management, Inc. and Tiger Global.
By integrating technology, open logistics networks, and elastic economic models, Flexe aims to solve the hardest omnichannel logistics problems for the world’s largest retailers and brands.
Founded in 2013, the company said it has recently seen accelerated demand for its logistics programmes. An uncertain macroeconomic environment, rapidly shifting consumer behaviours, forecast variability and supply chain gridlocks have led retailers and brands to strategically embrace logistics flexibility.
Samir Menon, BlackRock Private Equity Partners, said, “Flexe uniquely helps enterprise retailers and brands solve big supply chain challenges and excel in uncertain environments. Flexe has demonstrated that programmatic logistics deliver value for the world’s most demanding companies. We’re pleased to partner with a category creator that is transforming a massive industry.”
Karl Siebrecht, co-founder and CEO at Flexe, added, “Despite changing economic conditions, Flexe added nearly as many enterprise customers in the first six months of 2022 as it did all of last year and continues to see strong demand. Our model allows organisations to scale fast in strong economic environments and reduce risk, capital investment and long-term commitments when they face uncertainty.”
TideLift, a company on a mission to deal with open-source supply chain health and security, has raised $27m from a Series C funding round.
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