- Companies
- Flexe
Last Flexe valuation
$1B
Series D · Jul 2022
Last Flexe funding round
$119M
Series D · Jul 2022
Cumulative funding Flexe raised
$263M
across 6 funding rounds
Key investors in Flexe
Redpoint
Tiger Global
Madrona
Acequia Capital (AceCap)
Prologis Ventures
Activate Capital Partners
About Flexe
Flexe is a Seattle-headquartered on-demand warehousing and fulfillment network founded in 2013. It connects retailers like Nike, Patagonia, and HelloFresh to 1,000 warehouses totaling 100 million square feet across North America. Flexe's platform enables e-commerce scaling with same-day delivery and omnichannel distribution services.
Founded
2013
HQ
Website
Status
Privately held
Customer focus
B2B
Revenue model
Usage-based, Subscription
Valuation
$1B (Jul 2022)
Flexe Valuation
Flexe is currently valued at $1B, based on its Series D in July 2022.
The $119M round was led by BlackRock, with participation from Redpoint, Atacama Ventures, Prologis Ventures, T. Rowe Price, Tiger Global and 2 other investors.
Flexe valuation by funding round
| Date | Stage | Valuation |
|---|---|---|
| Jul 2022 | Series D | $1B |
Flexe Funding History
Flexe has raised a total of $263M across 6 funding rounds.
Flexe's first fundraising round was a $7M seed round in September 2013. The most recent completed round was a $119M Series D in July 2022.
Flexe funding rounds
| Date | Stage | Investors | Raised | Valuation | Deal Summary |
|---|---|---|---|---|---|
| Jul 2022 | Series D | BlackRock (lead); Redpoint; Atacama Ventures; Prologis Ventures; T. Rowe Price; Tiger Global; Activate Capital Partners; Madrona | $119M | $1B | Flexe is a Seattle-based logistics platform that provides on-demand warehousing, flexible e-commerce fulfillment, distribution, and same-day delivery solutions, integrating with over 700-1,500 warehouse operators across North America to help retailers optimize supply chains, manage capacity, track shipments, process returns, and reduce costs. The company serves major clients including six of the ten largest U.S. retailers and five of the largest consumer packaged goods companies, addressing challenges like demand variability, supply chain disruptions, and macroeconomic uncertainty through programmatic logistics. In July 2022, Flexe raised $119 million in its Series D funding round led by BlackRock, with participation from Activate Capital, Madrona Ventures, Prologis Ventures, Redpoint Ventures, T. Rowe Price, and Tiger Global, achieving a post-money valuation over $1 billion and unicorn status. This brought total funding to approximately $263-329 million across prior rounds including seed ($6.5M, 2013), Series A, Series C ($70M Dec 2020 and $10M Jan 2021 led by T. Rowe Price). The round valued Flexe at $1 billion as of July 2022. Proceeds were allocated to investments in scalable growth, hiring additional employees, and expanding technology and warehouse networks amid accelerated demand, with Flexe adding nearly as many enterprise customers in the first half of 2022 as in all of 2021. Flexe's model enables retailers to flexibly scale logistics without long-term commitments, contrasting traditional fixed-capacity approaches, and positions it in the growing logistics tech market serving omnichannel needs for e-commerce and B2B distribution. |
| Jan 2021 | Series C | Green D Ventures; Alumni Ventures | $10M | - | - |
| Dec 2020 | Series C | T. Rowe Price (lead); Redpoint; Balius Partners; Acequia Capital (AceCap); Prologis Ventures; Tiger Global; Activate Capital Partners; Madrona | $70M | - | Flexe is a Seattle-based startup providing an on-demand warehousing and fulfillment platform that connects retailers with flexible warehouse space providers, capitalizing on e-commerce growth. Flexe, founded seven years prior, had 168 employees and ranked No. 67 on the GeekWire 200. In December 2020, Flexe raised $70 million in a Series C funding round led by T. Rowe Price, with participation from Activate Capital, Tiger Global, Madrona Venture Group, Redpoint Ventures, Prologis Ventures, and others including Acequia Capital, Balius Partners. This brought total funding to $134 million following a $43 million Series B in May 2019. The round was announced ahead of schedule due to accelerated growth from pandemic-driven e-commerce demand, with U.S. online sales up 36.7% year-over-year in Q3 2020. Proceeds were allocated to double the engineering team and expand sales. |
| May 2019 | Series B | Activate Capital Partners (lead); Tiger Global (lead); Redpoint; Acequia Capital (AceCap); Prologis Ventures; Madrona | $43M | - | Flexe, the pioneer in on-demand warehousing and fulfillment, raised $43 million in its Series B funding round announced on May 7, 2019, led by Activate Capital and Tiger Global Management, with participation from Madrona Venture Group and follow-on investments from Redpoint Ventures, Prologis Ventures, and others. The funding aimed to accelerate development of its technology platform, more than double the team size, and expand the on-demand warehousing category it created. Flexe integrates with a network of warehouse operators to provide flexible logistics solutions for retailers, enabling strategies previously impossible for clients like Ace Hardware, Hims, Lime, and Great Jones. By 2018, Flexe had tripled its revenue growth, earning recognition as the fastest-growing company in Washington State and the 18th fastest-growing in North America by Deloitte. The company released platform improvements for easier warehouse integration, performance insights, and operational transparency. It also bolstered its leadership with key hires: Matt Millen as Chief Revenue Officer from Outreach, Deirdre Runnette as Chief People Officer and General Counsel from Zulily, and David Glick as Chief Technology Officer from Amazon Logistics. Flexe operates an asset-light model, not owning facilities but connecting customers including major retailers like Walmart, Staples, Ralph Lauren, and BJ’s Wholesale Club to its network. Subsequent rounds included a $70M Series C in December 2020 led by T. Rowe Price, a $10M extension in January 2021, and a $119M Series D in July 2022 led by BlackRock, reaching unicorn status at $1B valuation with total funding over $265M. |
| Jul 2016 | Series A | Redpoint (lead); Acequia Capital (AceCap); Blue Ivy Ventures | $15M | - | Flexe raised $14.25 million in its Series A funding round in July 2016, led by Redpoint Ventures, with participation from Acequia Capital and Blue Ivy Ventures, bringing total funding to over $20 million. The Seattle-based company, founded in 2013, operates an on-demand warehousing marketplace that connects businesses with excess warehouse space across North America. At the time, Flexe had a network of more than 370 warehouses in 45 markets, offering over 400,000 rentable pallet spaces, up significantly from the prior year. Flexe reported 600 percent revenue growth in the year leading up to the round but did not disclose specific revenue or ARR figures. The company, with around 20 employees, takes a 20 percent cut of transactions on its platform, which requires a minimum of 50 pallets for 30 days or $500 spend. Plans included doubling the warehouse network to 600 and expanding to 90 markets within the next year to meet growing demand. |
| Sep 2013 | Seed | Fritz Lanman (lead); Hank Vigil (lead); Second Avenue Partners (lead); SV Angel (lead); Charlie Songhurst | $7M | - | - |
Who has invested in Flexe?
18 investors have backed Flexe across its funding rounds, including Redpoint, Tiger Global, Madrona, Acequia Capital (AceCap), Prologis Ventures and Activate Capital Partners.
Lead investors include BlackRock, T. Rowe Price, Activate Capital Partners, Tiger Global, Redpoint and 4 other investors.
Flexe Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
| 4 | Lead | Jul 2016 | ||
| 3 | Participant | Jul 2016 | ||
| 3 | Participant | May 2019 | ||
| 3 | Lead | May 2019 | ||
| 3 | Lead | May 2019 | ||
| 3 | Participant | May 2019 | ||
| 2 | Lead | Dec 2020 | ||
| 1 | Participant | Jul 2022 | ||
| 1 | Lead | Sep 2013 | ||
| 1 | Lead | Sep 2013 | ||
| 1 | Participant | Dec 2020 | ||
| -- | 1 | Lead | Sep 2013 | |
| 1 | Participant | Jan 2021 | ||
This data is available for Pro users. Sign up to see all 18 Flexe investors. Start Free Trial | ||||
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Start Free TrialFlexe Competitors
Flexe competitors include listed companies like Xinhua Winshare and Infomart, and private ones like ShipBob, Redo, Sendcloud and Route.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
| Private | - | - | $1B | - | ||
| Private | - | - | $1.3B | - | ||
| Publicly listed | $1.7B | $248M | $1.9B | 0.4x | ||
| Publicly listed | $121M | $31M | $1.2B | 8.6x | ||
| Private | - | - | $750M | - | ||
| Private | - | - | $1.4B | - |
Flexe Public Comps
Flexe is still privately-owned, but its public comps include Hangzhou SF Intra-City, Reysaş Lojistik, CTT Correios de Portugal, Rezolve AI, Logwin, NTG Nordic Transport, Heartland Express, Shiprocket, Marten Transport and Prosegur Cash.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $3.4B | $54M | 0.2x | 0.2x | 11.8x | 8.4x | |||
| $257M | $142M | 4.8x | - | 8.6x | - | |||
| $1.4B | $202M | - | - | - | - | |||
| $47M | ($109M) | 23.3x | 4.0x | (10.0x) | (19.3x) | |||
| $1.6B | $131M | 0.4x | 0.4x | 4.7x | 4.7x | |||
| $1.8B | $135M | 0.7x | 0.7x | 9.6x | 8.2x | |||
| $806M | $102M | 1.2x | 1.3x | 9.9x | 6.8x | |||
| $211M | ($7M) | 4.3x | - | (131.1x) | - | |||
This data is available for Pro users. Sign up to see all Flexe competitors and their valuation data. Start Free Trial | ||||||||
Common questions about Flexe
| When was Flexe founded? | Flexe was founded in 2013. |
| Where is Flexe headquartered? | Flexe is headquartered in Seattle, WA, United States. |
| Is Flexe publicly listed? | No, Flexe is a private, VC-backed company. |
| What is Flexe's valuation? | Flexe was last valued at $1B in its Series D in July 2022. |
| How much funding has Flexe raised? | Flexe has raised $263M across 6 funding rounds. |
| What was Flexe's last funding round? | Flexe's last funding round was a $119M Series D in July 2022, led by BlackRock. |
| Who are Flexe's investors? | Flexe's investors include Redpoint, Acequia Capital (AceCap), Prologis Ventures, Tiger Global, Activate Capital Partners, Madrona, T. Rowe Price, Atacama Ventures, SV Angel, Hank Vigil and 8 others. |
| Which companies are comparable to Flexe? | Companies comparable to Flexe include ShipBob, Redo, Xinhua Winshare, Infomart, Sendcloud and Route. |
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