Flexport raises $935 million in a funding round with Andreessen Horowitz and Michael Dell that values the logistics company at $8 billion.
"The global pandemic and the pressure it put on global supply chains has made the transportation of goods — something many people took for granted — a daily pain point," Petersen said in a statement announcing the deal."This investment signals that the market recognizes the need for a tech-enabled logistics ecosystem that has the visibility and resilience to handle unexpected challenges of any scale.
Flexport has more than 10,000 clients and suppliers in 112 countries and reportedly doubled its revenue last year. With fresh financing, the company says it plans to begin expanding into new markets and accelerate the development of its technology. CNBC has extended the deadline to submit nominations for the 2022 Disruptor 50 list, our annual look at private innovators using breakthrough technology to transform industries and become the next generation of great public companies.
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