Flexe, a Seattle, WA-based on-demand warehousing and fulfillment company, closed a $70m Series C funding.
The round includes follow-on investments from Activate Capital, Tiger Global, Madrona Ventures, Redpoint Ventures, Prologis Ventures, and others, as well as a first-time investment from funds and accounts advised by T. Rowe Price Associates, Inc.
The company will use the new funding to invest in its team and technology.
Led by Karl Siebrecht, Co-Founder and CEO, Flexe provides a warehousing and fulfillment platform to optimize the global delivery of goods enabling brands to create dynamic eCommerce fulfillment networks and resolve warehouse capacity constraints.
Since raising its Series B in May of 2019, the company doubled headcount, expanded work with enterprise-class customers such as Walmart and Ace Hardware, grew the Operator Network by 50% to include more than 1,500 locations across North America and invested in engineering and development of its platform, recently launching an integration with Google Merchant Center that enables advertisers to dynamically display delivery promises in Google Shopping ads and increase conversion rates from ad spend by 9%.
