Flexport Revenue, Valuation, Funding & Investors
Flexport is valued at $8B as of February 2022, a 2.5x revenue multiple. Flexport revenue was $3.2B, as disclosed with its latest round.
Last Flexport valuation
$8B
Series E · Feb 2022
Last Flexport funding round
$260M
Undisclosed stage · Jan 2024
Flexport revenue
$3.2B
Series E · Feb 2022
Key investors in Flexport
Founders Fund
First Round Capital
DST Global
Susa Ventures
Y Combinator
Cherubic Ventures
About Flexport
Flexport is a San Francisco-headquartered global logistics company that combines licensed freight forwarding and customs brokerage with a software platform for quoting, booking and tracking ocean, air and truck shipments. It was founded in 2013 by Ryan Petersen and serves importers, e-commerce merchants and consumer brands, earning revenue mainly from freight forwarding, customs and fulfillment services. Revenue grew from $224.8 million in 2017 and $471 million in 2018 to $3.2 billion in 2021, when it moved nearly $19 billion of merchandise across 112 countries for more than 10,000 clients with almost 2,700 employees. Revenue fell to about $2.1 billion in 2024 as freight rates normalised, and the company had about 2,100 employees in 2025. Flexport raised more than $2 billion from investors including Founders Fund, DST Global, SoftBank Vision Fund, Andreessen Horowitz and MSD Partners, reaching an $8 billion valuation in its February 2022 Series E. In 2023 it took over Shopify's logistics business in exchange for a 13% equity stake, bought the assets of the defunct freight network Convoy, and in January 2024 raised a further $260 million from Shopify through an uncapped convertible note.
Founded
2013
HQ
San Francisco, CAWebsite
Status
Privately held
Customer focus
B2B
Revenue model
Services, Subscription
Revenue
$3.2B (Feb 2022)
Valuation
$8B (Feb 2022)
Flexport Valuation
Flexport is currently valued at $8B, based on its Series E in February 2022. Read the announcement ↗
The $935M round was led by Andreessen Horowitz and MSD Partners, with participation from Shopify, Wolfswood Partners, SoftBank Group, FPV Ventures, Founders Fund and 2 other investors.
Flexport's valuation has grown 27x from $300M at its Series B in September 2016 to $8B in February 2022, across 5 priced rounds.
Flexport valuation by funding round
Revenue multiple| Date | Stage | Valuation | Revenue Multiple |
|---|---|---|---|
| Feb 2022 | Series E | $8B | 2.5x |
| Feb 2019 | Series D | $3.2B | 6.8x |
| Apr 2018 | Undisclosed stage | $1.5B | 6.6x |
| Sep 2017 | Series C | $800M | - |
| Sep 2016 | Series B | $300M | - |
Flexport Revenue
Flexport's latest recorded revenue is $3.2B, as of its Series E in February 2022. At a $8B valuation, that implies a 2.5x revenue multiple.
Revenue grew from $226M in April 2018 to $3.2B in February 2022, while the revenue multiple moved from 6.6x to 2.5x.
Flexport revenue by funding round
| Date | Revenue * | Valuation | Revenue Multiple | Stage |
|---|---|---|---|---|
| Feb 2022 | $3.2B | $8B | 2.5x | Series E |
| Feb 2019 | $471M | $3.2B | 6.8x | Series D |
| Apr 2018 | $226M | $1.5B | 6.6x | Undisclosed stage |
* Revenue (or ARR) figures are the values recorded alongside each funding round. Typically run-rate revenue at the time of the deal, or a reported LTM (last 12 months) revenue.
Flexport Funding History
Flexport has raised a total of $2.5B across 8 funding rounds.
Flexport's first fundraising round was a $7M seed round in April 2014. The most recent completed round was a $260M undisclosed-stage round in January 2024.
Flexport funding rounds
| Date | Stage | Investors | Raised | Valuation | Deal Summary |
|---|---|---|---|---|---|
| Jan 2024 | Undisclosed stage | Shopify (lead) | $260M | - | Flexport, a digital freight forwarding and logistics technology company, raised $260 million from Shopify in January 2024 on an uncapped convertible note, announced around January 19, 2024. This followed Flexport's acquisition of Shopify Logistics assets in May 2023, for which Shopify received a 13% equity stake and a board seat, plus an additional $40 million cash infusion, bringing Shopify's total stake to 17%. The funding aimed to strengthen Flexport's balance sheet amid global trade volatility and signal long-term stability to customers, as stated by CEO Ryan Petersen, who returned to the role to drive profitability. Previously, Flexport raised $935 million in a Series E round about two years earlier at an approximately $8 billion valuation, bringing total equity and debt raised to around $2.66 billion before this round. The company faced challenges including a post-pandemic freight rate decline, $300 million cash burn in the first half of 2023, and multiple layoffs totaling 20% of staff to cut costs and refocus on core operations. Flexport also acquired assets from the shuttered digital freight network Convoy in late 2023 at a modest price. Flexport and Shopify have a deepening partnership, with Shopify naming Flexport its preferred fulfillment partner for merchants, though recent integrations like Amazon's Buy With Prime suggest shifting dynamics. CEO Petersen emphasized the 'fortress balance sheet' as a strategic asset to invest through market cycles and build an end-to-end global logistics platform. |
| Feb 2022 | Series E | Andreessen Horowitz (lead); MSD Partners (lead); Shopify; Wolfswood Partners; SoftBank Group; FPV Ventures; Founders Fund; Shane Neman; DST Global | $935M | $8B | Flexport, a San Francisco-based logistics platform for managing global supply chains including ocean, air, and truck freight, closed a $935 million Series E funding round in February 2022 led by Andreessen Horowitz and MSD Partners, with participation from Shopify, DST Global, Founders Fund, SoftBank Vision Fund, and others. The round valued the company at over $8 billion post-money, more than doubling from its 2019 valuation of $3.2 billion. In 2021, Flexport reported revenue of $3.2 billion, more than doubling from 2020, while shipping nearly $19 billion in merchandise across 112 countries to 10,000 clients. The company achieved its first positive EBIT year amid global supply chain disruptions from the pandemic. Proceeds were allocated to accelerate technology platform development, expand into new markets, and invest in logistics tech startups to enhance supply chain efficiency and resilience. |
| Feb 2019 | Series D | SoftBank Group (lead); S.F. Express; Susa Ventures; Cherubic Ventures; Founders Fund; DST Global | $1B | $3.2B | Flexport, a San Francisco-based logistics platform providing technology-enabled air and ocean freight forwarding services, raised $1 billion in February 2019 led by SoftBank Vision Fund, with participation from Founders Fund, DST Global, Cherubic Ventures, Susa Ventures, and SF Express. The round valued the company at a post-money valuation of $3.2 billion. In 2018, the year prior to the round, Flexport generated $471 million in revenue according to TechCrunch, while the company's blog reported doubling top-line revenue to nearly $500 million. The firm had grown to nearly 1,000 employees across 11 offices and warehouses worldwide and ranked as the 11th largest freight forwarder by ocean volume on the Transpacific Eastbound lane. Flexport operates in the $2-7 trillion global logistics industry, using its platform for real-time tracking, booking, and cost reduction, serving nearly 10,000 clients across over 100 countries and competing with incumbents like DHL, FedEx, and UPS. |
| Apr 2018 | Undisclosed stage | S.F. Express (lead); First Round Capital; Y Combinator; Founders Fund; DST Global | $100M | $1.5B | Flexport is a technology platform for global trade, providing air, ocean, rail, and truck freight forwarding services to facilitate international shipping for businesses. In April 2018, it secured a $100 million investment from SF Express, China's leading courier, bringing total outside funding to $304 million since its 2013 founding. Prior investors include First Round Capital, Founders Fund, DST Global, Y Combinator, and others. The funds aimed to expand operations in China and globally, invest in technology for better user experience and data-driven supply chain decisions, double warehousing footprint, and open new offices in Hamburg, Chicago, Taiwan, and Shanghai. The investment valued Flexport between $1 billion and $1.5 billion, reportedly up to six times its 2017 gross revenue of $226 million, a figure disclosed by the company. Flexport tripled its annual revenue in 2017 amid rapid expansion, including new offices in Los Angeles, Atlanta, and Shenzhen, and began chartering freighters from Hong Kong to Los Angeles. In the past year leading to the round, it shipped $3.8 billion worth of merchandise across 97 countries for clients like Warby Parker, Peloton, and Georgia Pacific. CEO Ryan Petersen emphasized creating value in international freight, while Y Combinator founder Paul Graham highlighted Flexport's potential to grow the international trade market. The deal sparked debate on valuations in logistics tech, with traditional forwarders valued at one times revenue versus Flexport's premium due to its disruptive tech focus. SF Express's involvement marked the first major freight transportation investor, aligning with Flexport's China expansion. |
| Sep 2017 | Series C | DST Global (lead); Susa Ventures; GV; Founders Fund; Wells Fargo | $110M | $800M | Flexport, a digital freight forwarder and logistics platform, raised $110 million led by DST Global in September 2017, achieving a post-money valuation of $800 million after rejecting higher offers over $1 billion to avoid overvaluation risks. The round included investors such as 137 Ventures, Founders Fund, GV, Initialized Capital, MaC Venture Capital, MacroVentures, and others, building on prior funding to fuel expansion amid rapid growth. At the time, Flexport had grown to 400 employees and was projecting $500 million in revenue for 2017, though this was a forecast rather than confirmed figure. The company had disclosed $226 million in gross revenue for 2017 in a LinkedIn thread reported in 2018, marking significant progress since its 2013 founding, with cumulative funding reaching substantial levels by mid-2018. Flexport's business model focused on shaving days off shipping times through technology, positioning it as a disruptor in ocean and air freight forwarding. It emphasized software-driven efficiency, later evolving pricing from free software with freight charges to SaaS fees for high-volume clients. By 2018, Flexport's valuation was reported between $1 billion and $1.5 billion in some contexts, up to six times its 2017 gross revenue, far exceeding typical forwarder multiples of 1x due to its tech-driven scalability and investor enthusiasm for CEO Ryan Petersen. The firm handled volumes like 944 TEU in 2017 per PIERS data, though public claims suggested higher activity known to carriers for unlocking discounts. This round supported office openings in Los Angeles, Atlanta, and Shenzhen, contributing to revenue tripling in 2017 as stated in later announcements. |
| Sep 2016 | Series B | Founders Fund (lead); Susa Ventures; First Round Capital; 8VC; Bloomberg Beta; Felicis; Yuri Milner | $65M | $300M | Flexport is a Silicon Valley-based freight forwarding and logistics technology company founded in 2013 that uses software to modernize global trade. The company combines traditional freight forwarding services with data and technology platforms to create what CEO Ryan Petersen calls 'the SeamlessWeb of commerce,' positioning itself as an alternative to legacy freight forwarders like DHL and Expeditors that rely on antiquated systems. In September 2016, Flexport raised a Series B round of $65 million at a valuation well over $300 million, bringing total capital raised to $94 million. The round was led and filled almost entirely by existing investors including Founders Fund, Bloomberg Beta, Felicis Ventures, First Round Capital, Susa Ventures, and Yuri Milner, with new investor Joe Lonsdale of 8VC joining. Trae Stephens from Founders Fund joined the board. Flexport demonstrated significant traction at the time of the raise, with CEO Ryan Petersen noting that the company had grown revenue 80 percent in two months and achieved $500,000 in monthly revenue in August 2016. The company planned to use the new funding for aggressive international expansion, with particular focus on China given that many clients ship from there, and had already opened offices in Amsterdam, New York, and Hong Kong with over 30 employees across those locations. |
| Aug 2015 | Series A | Founders Fund (lead); A-Grade Investments; Susa Ventures; First Round Capital; Y Combinator; GV; Bloomberg Beta; Fenway Summer Ventures; Felicis; FundersClub; Cherubic Ventures; Ceyuan Ventures; Fuel Capital | $22M | - | Flexport, a technology-driven global freight forwarder and logistics platform, announced a $20 million Series A funding round on August 7, 2015, led by Peter Thiel of Founders Fund, bringing total capital raised to $26.6 million. Existing investors including A-Grade Investments, Bloomberg Beta, Cherubic Ventures, First Round Capital, Fuel Capital, Funders Club, Google Ventures, Susa Ventures, and Y Combinator participated, joined by new investors Ceyuan Ventures, Felicis Ventures, and Fenway Summer. The company provides services like freight quoting, booking, real-time tracking, customs compliance, cargo insurance, supply chain visualization, analytics, and scenario planning via a powerful online dashboard, supported by dedicated logistics teams. The funds were intended to aggressively invest in Flexport's business model combining technology, domain expertise, and a worldwide logistics network, serving fast-growing brands in fashion, wearables, home automation, educational toys, and enterprise tech. Flexport's later funding rounds provide context for growth: Series B at $300 million post-money, Series C ($110M at $910M), Series D ($1B at $3.2B), and Series E ($935M at $8.1B in 2022). |
| Apr 2014 | Seed | First Round Capital (lead); Y Combinator; Cherubic Ventures | $7M | - | Founders Fund, previously shown as lead here, first invested in that August 2015 Series A, which Peter Thiel led. Flexport was founded in 2013 by Ryan Petersen and is based in San Francisco. It operates as a licensed freight forwarder and customs broker whose online dashboard lets importers quote, book and track ocean, air and truck shipments while handling customs compliance and cargo insurance. The seed capital funded the early software platform and brokerage operations that the company later scaled into one of the larger forwarders on the transpacific trade lane. |
Who has invested in Flexport?
25 investors have backed Flexport across its funding rounds, including Founders Fund, First Round Capital, DST Global, Susa Ventures, Y Combinator and Cherubic Ventures.
Lead investors include Shopify, Andreessen Horowitz, MSD Partners, SoftBank Group, S.F. Express and 3 other investors.
Flexport Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
| San Francisco, CA | 6 | Lead | Aug 2015 | |
| San Francisco, CA | 4 | Participant | Aug 2015 | |
| Philadelphia, PA | 4 | Lead | Apr 2014 | |
 George Town | 4 | Lead | Sep 2017 | |
| San Francisco, CA | 3 | Participant | Apr 2014 | |
 Taipei | 3 | Participant | Apr 2014 | |
 Guangdong | 2 | Lead | Apr 2018 | |
 Shopify |  Ottawa | 2 | Lead | Feb 2022 |
| San Francisco, CA | 2 | Participant | Aug 2015 | |
 Tokyo | 2 | Lead | Feb 2019 | |
| San Francisco, CA | 2 | Participant | Aug 2015 | |
| Menlo Park, CA | 2 | Participant | Aug 2015 | |
| United States | 1 | Participant | Aug 2015 | |
This data is available for Pro users. Sign up to see all 25 Flexport investors. Start Free Trial | ||||
Benchmark 350K+ Funding Rounds and Disclosed VC Valuation Multiples
Sign up to see data on 350K+ funding rounds and disclosed revenue and EBITDA valuation multiples, from seed, through growth stage, to pre-IPO.
Start Free TrialAcquisitions by Flexport
Flexport has acquired 4 companies to date.
Last acquisition by Flexport was on November 1st 2023. Flexport acquired Convoy for $16M.
Latest Acquisitions by Flexport
| Description | Convoy was a digital freight network that connected shippers with trucking carriers through a mobile app and online platform. It was founded in 2015 in Seattle by former Amazon employees Dan Lewis and Grant Goodale. The platform used software to match loads to carriers, quote prices instantly, book shipments, track them by GPS and automate payments, aiming to cut the empty miles driven by trucks and replace the traditional freight brokerage process. Its customers included large consumer goods, food and beverage and retail shippers. The company earned a margin between the price charged to shippers and the rate paid to carriers on loads it brokered, and later offered its software to other brokers. Convoy ceased operations in October 2023, and its technology was acquired by Flexport and later sold to DAT Freight and Analytics. | Deliverr is a San Francisco-based e-commerce fulfillment platform that provides fast shipping options for online retailers. Acquired by Shopify in 2022, it enables merchants to offer one- or two-day delivery nationwide from distributed warehouses. The service integrates with major marketplaces to handle picking, packing, and shipping while optimizing costs through technology-driven inventory placement. Deliverr supports brands in apparel, beauty, and consumer goods sectors by guaranteeing delivery speed standards. | Crux Systems is a supply chain visibility provider founded in 2014 that tracks import containers entering North America for cargo owners, freight forwarders, and trucking companies. The platform reduces dwell times and demurrage fees through real-time location and status data. Acquired by Flexport in 2019, Crux integrates into Flexport's global trade operating system. | Fieldbook is a no-code database platform based in San Francisco, California. Teams build custom apps for project tracking, client management, and content systems using spreadsheet-like interfaces with relational data features. It supports workflows for real estate, nonprofits, and media companies through API integrations with Zapier and Airtable alternatives. |
| HQ Country | | | | |
| HQ City | Seattle, WA | San Francisco, CA | San Francisco, CA | San Francisco, CA |
| Deal Date | 1 Nov 2023 | 4 May 2023 | 14 Oct 2019 | 5 Aug 2018 |
| Valuation | $16M | undisclosed | undisclosed | $2M |
| EV/Revenue | ||||
| EV/EBITDA | ||||
This data is available for Pro users. Sign up to see all Flexport acquisitions and their M&A valuation multiples. Start Free Trial | ||||
Investments by Flexport
Flexport has invested in 40 companies to date.
Latest investment by Flexport was on February 10th 2026. Flexport invested in Natilus in their $28M Series A round.
Latest Investments by Flexport
| Description | Natilus is a San Diego-headquartered developer of autonomous cargo aircraft founded in 2016. The company designs blended-wing body drones including the Kona for short-haul feeder routes, Alisio for medium-range, and Nordes for trans-Pacific cargo, utilizing standard containers and existing airport infrastructure to serve e-commerce and remote logistics. | Cargon is a digital freight forwarding platform using AI matching algorithms to pair shippers with carriers in Europe. It handles full container loads and air freight from origins like Rotterdam to destinations in the UK and Germany, providing digital documentation and real-time tracking via API integrations. | FrontEdge is a fintech platform delivering trade finance tools for emerging markets in Africa and Asia. London-based, it automates FX hedging, letters of credit, and invoice discounting via blockchain integration. Serving commodity traders since 2019, FrontEdge partners with banks like Standard Chartered and processes $50 million in annual trade volume across Nigeria and Kenya. | Rybit is a cloud platform connecting last-mile delivery carriers, shippers, and warehouses to streamline operations. Headquartered in Tel Aviv, it offers real-time load matching, route optimization, proof-of-delivery tracking, and analytics, serving logistics providers across Europe and the Middle East. | |
| HQ Country | |  |  | | |
| HQ City | San Diego, CA | Tbilisi | Lagos | San Francisco, CA | |
| Deal Date | 10 Feb 2026 | 20 Dec 2023 | 22 Nov 2023 | 5 Jul 2023 | |
| Round | Series A | Seed | Seed | Series A | |
| Raised | $28M | $2M | $10M | $10M | |
| Investors | New Vista Capital; Liquid 2 Ventures; VU Venture Partners; Wave Function; Soma Capital; The Veteran Fund; Draper Associates; Type One Ventures | Caucasus Ventures; UzVC National Venture Capital fund; Reflect Ventures; AloqaVentures; Sturgeon Capital; Hustle Fund | TLG Capital | Chunghwa Telecom; Cornerstone Ventures; Colopl Next; Cherubic Ventures; PChome Online; AVA Angels | |
| Valuation | undisclosed | undisclosed | undisclosed | undisclosed | |
| EV/Revenue | |||||
| EV/EBITDA | |||||
This data is available for Pro users. Sign up to see all Flexport investments and their VC round multiples. Start Free Trial | |||||
Flexport Competitors
Flexport competitors include listed companies like Delhivery and Descartes Systems Group, and private ones like Uber Freight, Forto, Loggi and EasyPost.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
| San Francisco, CA | Private | $2.1B | - | $3.3B | 15.6x | |
 India | Publicly listed | $1.1B | $81M | $3B | 2.2x | |
 Berlin | Private | - | - | $2.1B | - | |
 São Paulo | Private | - | - | $1.8B | - | |
| Salt Lake City, UT | Private | - | - | $1.5B | - | |
| Canada | Publicly listed | $729M | $305M | $7.8B | 9.1x |
Flexport Public Comps
Flexport is still privately-owned, but its public comps include ServiceTitan, Descartes Systems Group, JD Logistics, TFI International, Full Truck Alliance, Nippon Express Holdings, Sequoia Logistica, Saia, Qingdao Port and Matson.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $961M | ($86M) | 8.0x | 7.0x | (89.5x) | 39.5x | |||
| $729M | $305M | 10.1x | 9.1x | 24.1x | 19.9x | |||
| $33B | $3B | 0.2x | 0.2x | 2.7x | 2.7x | |||
| $7.9B | $1.2B | 1.3x | 1.2x | 9.0x | 8.3x | |||
| $1.9B | $681M | 2.9x | 2.9x | 8.0x | 7.1x | |||
| $16B | $327M | 0.8x | 0.7x | 37.9x | 6.4x | |||
| $110M | $16M | 65.0x | - | 447.4x | - | |||
| $3.2B | $602M | 2.9x | 2.6x | 15.4x | 14.2x | |||
This data is available for Pro users. Sign up to see all Flexport competitors and their valuation data. Start Free Trial | ||||||||
Common questions about Flexport
| When was Flexport founded? | Flexport was founded in 2013. |
| Where is Flexport headquartered? | Flexport is headquartered in San Francisco, CA, United States. |
| Is Flexport publicly listed? | No, Flexport is a private, VC-backed company. |
| What is Flexport's valuation? | Flexport was last valued at $8B in its Series E in February 2022. |
| How much funding has Flexport raised? | Flexport has raised $2.5B across 8 funding rounds. |
| What was Flexport's last funding round? | Flexport's last funding round was a $260M undisclosed-stage round in January 2024, led by Shopify. |
| Who are Flexport's investors? | Flexport's investors include Founders Fund, Susa Ventures, First Round Capital, DST Global, Y Combinator, Cherubic Ventures, S.F. Express, Shopify, GV, SoftBank Group and 15 others. |
| What is Flexport's revenue? | Flexport's latest recorded revenue is $3.2B (February 2022). |
| What is Flexport's revenue multiple? | Flexport's latest valuation implies a 2.5x revenue multiple ($8B valuation on $3.2B of revenue). |
| Which companies are comparable to Flexport? | Companies comparable to Flexport include Uber Freight, Delhivery, Forto, Loggi, EasyPost and Descartes Systems Group. |
| How many companies has Flexport acquired? | Flexport has acquired 4 companies, including Convoy, Deliverr, Crux Systems and Fieldbook. |
| What was the largest acquisition by Flexport? | The $16M acquisition of Convoy in November 2023 is the largest acquisition Flexport has made to date. |
| How many companies has Flexport invested in? | Flexport has invested in 40 companies, including Natilus, Cargon, FrontEdge, Rybit, Saltbox, GoodShip, Noble and Protex AI. |
| What was Flexport's last investment? | In February 2026, Flexport invested in Natilus' $28M Series A alongside New Vista Capital, Liquid 2 Ventures, VU Venture Partners and 5 other investors. |
See companies similar to Flexport
Start Your
Free Trial Today
Try Multiples for free for 3 days. Got questions or need a demo? Schedule a call with us below.