Flexe is raising more cash as investors continue betting big on logistics startups

Seattle startup Flexe is increasing far more funds to bolster its market utilised by suppliers to obtain on-demand from customers warehousing place.

A new SEC submitting reveals that the enterprise has lifted $67.9 million of a much larger spherical. The firm declined to remark on the submitting when attained by GeekWire.

Source chain management startups established a document for funding past yr as their software program assisted companies that had been scrambling amid volatility brought on by the pandemic. Flexe has also observed huge tailwinds from the acceleration of on line income in the course of the pandemic.

Just previously Thursday, Seattle digital freight startup Convoy declared a $260 million round at a $3.8 billion valuation.

Flexe past raised income in late 2020, bringing in $80 million as aspect of a Series C spherical.

Established in 2013, Flexe describes by itself as a “warehousing-as-a-service” firm, encouraging suppliers flip what was usually a mounted expenditure into a variable value. Its buyers never will need to invest thousands and thousands into very long-time period warehouse leases they just fork out for what they require at a specified time.

It is comparable to how pay out-as-you-go cloud computing expert services such as AWS or Azure replaced the want for a corporation to buy and operate their own details centers.

“Traditional warehousing is a lot like conventional knowledge centers,” Flexe CEO Karl Siebrecht earlier told GeekWire.

Flexe also presents providers a way to go inventory nearer to the place clients dwell, lowering supply times. That’s important as Amazon proceeds to make 1- and 2-day shipping the marketplace conventional.

“Measure the effect of identical-working day delivery on earnings across diverse regions, develop into new markets, and contend directly with Amazon without the need of the risk of fastened investments,” the firm notes on its web-site.

Siebrecht, earlier an government at aQuantive and AdReady, co-founded the firm with Edmond Yue and Francis Duong after they attended a housewarming social gathering and satisfied an entrepreneur who complained about finding warehouse place for his barware firm. Siebrecht is a finalist for CEO of the Yr at the GeekWire Awards.

Flexe employs 450 people today. Its past buyers involve T. Rowe Price, Activate Capital, Tiger Global, Madrona Undertaking Team, Redpoint Ventures, Prologis Ventures, and other individuals.

Other logistics and e-commerce application startups from the Seattle area that have raised funding above the previous number of many years include things like Shipium, Logixboard, Stackline, Material, FlavorCloud, Pipe17, Pandion, and SoundCommerce.