Flexport is turning the freight industry — a $1 trillion industry that keeps the world's economies humming — on its head. Disruptor50
Valuation: N/AIndustry: Logistics, freight forwarding, supply chain managementTracking and handling freight — a $1 trillion industry that keeps the world's economies humming — has largely been done on paper and via email and phone calls. Flexport is turning this"ancient" industry on its head. This San Francisco-based start-up is a global freight forwarder and customs broker powered by cloud software and an analytics platform.
In February the six-year-old company announced a staggering $1 billion funding round led by SoftBank's Vision Fund, pushing its valuation up to $3 billion. Flexport founder Ryan Petersen says the money will be used to build additional warehouses and possibly to purchase another plane. It's also planning to hire additional engineers and hire more local experts in its markets around the globe. The company has 1,000 employees in 11 offices around the world.
As it builds out the business, the company is also sharing in its good fortunes. Its nonprofit arm — Flexport.org — provides subsidized logistics support for humanitarian relief, and a carbon calculator so customers can see the environmental impact of their shipments.
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