Flexe Raises $119 Million as Enterprises Accelerate Flexe Logistics Program Adoption
Flexe, the programmatic logistics leader, announced its $119 million Series D funding round at a $1b+ post-money valuation. The round includes new investments from funds and accounts managed by BlackRock and follow-on investment from Activate Capital, Madrona Ventures, Prologis Ventures, Redpoint Ventures, funds and accounts advised by T. Rowe Price Associates, Inc. and T. Rowe Price Investment Management, Inc. and Tiger Global.
Flexe continues to see accelerated demand for its logistics programs. An uncertain macroeconomic environment, rapidly shifting consumer behaviors, forecast variability and supply chain gridlocks have led retailers and brands to strategically embrace logistics flexibility.
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“Flexe uniquely helps enterprise retailers and brands solve big supply chain challenges and excel in uncertain environments,” said Samir Menon, BlackRock Private Equity Partners. “Flexe has demonstrated that programmatic logistics deliver value for the world’s most demanding companies. We’re pleased to partner with a category creator that is transforming a massive industry.”
Flexe Logistics Programs are an increasingly critical aspect of its customers’ operations. Six of the ten largest retailers and four of the five largest consumer packaged goods companies work with Flexe to run programmatic logistics as part of their supply chain strategies.
“Despite changing economic conditions, Flexe added nearly as many enterprise customers in the first six months of 2022 as it did all of last year and continues to see strong demand,” said Karl Siebrecht, Co-Founder and CEO at Flexe. “Our model allows organizations to scale fast in strong economic environments and reduce risk, capital investment and long-term commitments when they face uncertainty.”
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