Flexport grabs $935M to pry open supply chain visibility

Supply chain tech specialist Flexport has been valued at more than $8 billion after raising $935 million in a Series E round led by Andreessen Horowitz and MSD Partners, with participation from Shopify and existing investors.
 

• Flexport was already among the most valuable VC-backed freight tech companies—it was reportedly valued at $3.2 billion in 2019—and is now second only to Alphabet-owned Waymo, according to PitchBook data.
   
• The company's software is used to track shipments through the global supply chain, providing visibility in an often opaque industry. Flexport's revenue more than doubled to $3.2 billion last year, The Wall Street Journal reported.
   
• While ecommerce leaders have not been prolific investors in supply chain tech startups, Shopify also invested in logistics tech company Swyft last year. Walmart has invested in the produce supply chain, recently backing indoor farming startup Plenty as part of a deal to supply fresh greens to its stores, as well as Indian agtech company Ninjacart last year.

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