July 6 (Reuters) – Flexi Inc said on Wednesday it had raised fresh capital in a late-stage funding round from investors including BlackRock and Tiger Global that valued the logistics startup at more than $1 billion.
Seattle-based Flexe raised $119 million in a Series D round that attracted new investment from funds and accounts managed by T. Rowe Price Associates, Madrona Ventures, Prologis Ventures, and others. Flexe raised $70 million nearly two years ago.
Founded in 2013 and led by CEO Karl Siebrecht, Flexe provides scalable warehousing, retail distribution and same-day delivery solutions.
Register now to get free unlimited access to Reuters.com
The financing comes at a time when severe supply chain crises are stifling trade and commerce around the world.
Venture capital firms like Andreessen Horowitz and SoftBank Vision Fund 2 have helped warehousing firms like San Francisco-based Flexport and Flock Freight raise millions of dollars.
Flexport, for example, more than doubled its valuation to $8 billion in February after it raised $935 million in a late-stage funding round.
Register now to get free unlimited access to Reuters.com
Mahnaz Yasmin reports in Bengaluru. Editing by Shinjini Ganguly
Our criteria: Thomson Reuters Trust Principles.
