Digitally savvy freight-forwarding company Flexport is opening an office in downtown Seattle, the company’s 12th location globally, it’s sixth in the U.S. and first in the Pacific Northwest.
Although the local office will start out small, with about a dozen employees, the company, which employs a software-focused freight-management strategy that allows customers to handle all of their freight business through one platform, is gaining steam fast in the $2 trillion global freight-forwarding sector. Since it was launched in 2013, Flexport has grown its roster to encompass some 10,000 clients and suppliers, helping them manage all aspects of their supply chain operations, according to the company’s website.
In addition, the San Francisco-based company, which owns its own 747 aircraft and employs more than 1,000 people across three continents, recently announced a $1 billion funding round led by SoftBank’s Vision Fund, according to Forbes. Other investors include Founders Fund, DST Global, Cherubic Ventures, Susa Ventures and SF Express, according to Forbes, which says the company is valued at $3.2 billion.
“Now our squads can deliver even better service to the Pacific Northwest and Canadian companies we're fortunate to work with,” says Flexport Chief Executive Officer Ryan Petersen, adding that Washington state is a major destination for eastbound transpacific trade. “Combine that with the state’s proximity to other shipping hubs like Oregon and British Colombia [Canada], and this is a major step towards our goal of becoming the largest shipper from Asia to the U.S.