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On-demand warehousing company FLEXE secures $43 Million in Series B funding
Activate Capital and Tiger Global Management lead round after FLEXE triples its revenue in 2018
Activate Capital and Tiger Global Management led the round, which also included Madrona Venture Group and follow-on investments from current investors Redpoint Ventures, Prologis Ventures, and others.
Since launching in 2013, FLEXE claims to have created the largest open network of warehouses connected through a single technology platform, reaching more than 1,000 warehouses across North America. Clients include Ace Hardware, hims, Lime, and Great Jones.
In conjunction, Raj Atluru, Managing Director at Activate Capital, joins the FLEXE Board. "We are excited to announce our investment in FLEXE, the pioneer of on-demand warehousing, as the company continues to transform the $1.5 trillion global logistics industry," said Atluru. "FLEXE presents such clear value for forward-looking businesses who recognize that structural flexibility is a competitive differentiator and key ingredient to winning in the market. We look for pioneering businesses, and FLEXE is exactly that."
"We are thrilled to have Activate Capital, Tiger Global, and Madrona Venture Group join the FLEXE team," said Karl Siebrecht, Co-Founder and CEO at FLEXE. "Tiger Global is one of the most sophisticated and experienced eCommerce and logistics technology investors in the world, Activate has a specific focus on technologies that are transforming the industrial economy including the supply chain, and we all share a common vision for how technology will continue to fundamentally transform logistics in the years to come. At FLEXE, we believe the on-demand warehousing category will be as big as, if not bigger than, on-demand cloud computing, cars, and lodging."