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The Venture Codex

Flexport Fund

760 Market St, San Francisco, CA, 94102, United States

Overview

Flexport is a full-service global freight forwarder and logistics platform using modern software to fix the user experience in global trade. The platform arranges goods to be transported and tracks the inventory in real-time in orders carried by ocean, air, and road freight, enabling logistics companies to optimize transportation routes and inventory management. It is a licensed customs brokerage and freight forwarder built around a modern web application. Its freight service includes an online dashboard for businesses to easily understand, purchase, manage, and track the services required for global trade. Its team of logistics experts lets focus on core business by ensuring goods arrive at fulfillment/distribution centers on time and at the lowest cost. Flexport's mission is to fix the user experience in global trade and bring the world free trade through technology. The company was founded in 2013 by Ryan Petersen and is based in San Francisco, California.

Total investments
6
Lead investments
0
Investments · 12mo
0
Active investors
0

Sector focus

  • Freight Service
  • Logistics
  • Shipping
  • Software
  • Supply Chain Management
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Investment portfolio

  • GoodShip

    Participated · Equity · Oct 2022

    GoodShip offers a freight orchestration and procurement platform purpose-built for enterprise shippers. The platform unifies fragmented supply chain data and surfaces real-time insights to help teams move from reactive firefighting to proactive, coordinated decision-making. It supports planning and execution across truckload, LTL, and spot markets. The company emphasizes AI-driven capabilities to manage complexity and improve outcomes across freight networks. GoodShip is led by CEO Ryan Soskin and is based in Seattle, WA. The business plans to expand its platform and accelerate AI investment using proceeds from the recent raise. GoodShip is an all-in-one platform for freight network orchestration and procurement that integrates with shipper TMSs. The platform includes a recommendation engine that surfaces performance insights, in-app messaging and tagging to centralize conversations, a purpose-built procurement workflow, and an AI-powered award optimizer to boost bid execution efficiency and support more durable carrier contracts. Users can take corrective action directly within GoodShip, moving vital conversations out of email and into a data‑grounded inbox. The company has found product-market fit with major enterprise shippers and lists customers such as KBX Logistics (a Koch company), Kellanova (formerly Kellogg Company), Mark Anthony Services, and Simmons Foods. GoodShip plans to use new funding to expand the team, accelerate feature development, and support a growing roster of customers. Financially, the company announced an $8M Series A and has raised $15.4M in total funding. GoodShip offers a collaborative, cloud-native command center that unifies TMS tender data, contract award data, location data, and real-time pricing (via partners like FreightWaves SONAR) to make transportation procurement actionable. The platform includes Insights and Procurement features plus a smart recommendation engine and carrier scorecards to improve service and price outcomes. Customers have seen measurable results: over the past six months late deliveries to requested delivery date (RDD) decreased by 20% and total freight spend fell 3–5% on average. GoodShip emphasizes collaborative, multiplayer workflows that improve shipper-carrier relationships and streamline performance discussions. The company plans to use new funding to accelerate bid management features, refine and expand its AI-powered recommendation engine, and scale go-to-market efforts for mid-market and enterprise shippers. The company is operating out of Nashville, Tenn., and highlights continued partnerships and endorsements from industry shippers and carriers. GoodShip provides a cloud-based collaboration platform that automates manual procurement tasks, carrier scorecarding, and reporting to improve supply chain stability. The product contextualizes carrier contract data with shipper TMS performance and real-time North American lane pricing to enable data-driven contracting decisions. The company has the first iteration of its platform in the hands of several enterprise shippers and dozens of large carriers and brokers. GoodShip also partners with data providers such as FreightWaves to surface real-time market rates within the product. The company came out of stealth as it announced a $2.4 million funding round and plans to use the proceeds to hire and accelerate development of its analytics and procurement features with insights from early shipper and carrier design partners. Founders include CEO Ryan Soskin and David Tsai, who are leading the next wave of supply chain digitization.

  • Noble

    Participated · Series A · Sep 2022

    Noble provides a no‑code platform and rules‑based engine that lets companies connect data sources, access credit bureaus, banks and income‑verification providers, and deploy custom underwriting workflows to approve, decline or flag users for manual review. The platform supports branded frontend experiences and centralized auditing of underwriting data to help businesses launch credit‑based products without large engineering investments. Noble was founded by WeWork veterans Tomer Biger (CEO) and Moran Mishan (CTO), who previously built underwriting infrastructure at WeWork; Biger also worked on underwriting at B2B lender Behalf and Mishan was previously a software engineer at Woo.io. Noble says it already has “tens” of clients, including major fintechs, and that “millions of dollars” of loans have been originated through its platform. The company positions itself against other credit‑infrastructure and automated underwriting providers such as Alloy, Stilt and Finally. Noble intends to use the new capital to open a new office and expand its product portfolio to support additional use cases.

  • Lang.ai

    Participated · Series A · May 2022

    Lang.ai provides a no-code platform that appends incoming customer messages in help desk platforms (like Zendesk and Intercom) with labels to enable automations and analysis. The product extracts concepts from emails, texts and tickets, lets teams visually group concepts, and triggers workflows based on labels. Lang emphasizes domain-tailored AI models to recognize industry jargon and partners with frontend and backend customer service vendors as a complementary offering. The company counts Stitch Fix, Ramp, Hippo Insurance and Freshly among its customers and has 25 employees. Annual recurring revenue grew 11x in the five quarters preceding the Series A, though the company declined to disclose absolute ARR. Future plans include R&D to link support conversations to purchase data and to surface automation recommendations based on common agent actions. Lang.ai offers a no-code SaaS platform enabling non-technical business users to build enterprise-ready NLP models via a drag-and-drop interface that suggests AI-extracted concepts. The product analyzes customers' historical data in minutes, applies real-time categorization, and automates tasks such as support ticket tagging/routing, insurance-claims processing, and dispatching field engineers. It targets "Citizen NLP Builders" across customer service operations, marketing, analytics and UX, and customers include Freshly, Userzoom, Playvox, CaixaBank, Yalo Chat and Bancolombia. The platform can be installed in Lang.ai's cloud or the customer's environment. Founded in 2018 by Jorge Peñalva, the company is a 10-person team with engineering primarily based in Spain and says revenue doubled from Q4 2020 to Q1 2021. The seed funding is aimed at supporting growing demand and larger customer projects.

  • Oware

    Participated · Seed · Apr 2022

    Oware provides a network of connected warehouses combined with an online portal that manages inventory, tracks shipments in real time, and supplies digital proof of delivery. The company partners with third-party logistics providers and rents warehouse space so clients can rapidly start operations from locations closest to end customers. Its partners handle picking, packing and shipping while Oware’s portal gives visibility across multiple warehouses and logistics providers. Most customers are B2B market and retail companies seeking backend warehousing and last-mile transportation or dark store fulfillment. Oware currently operates 18 warehouses across five Pakistani cities, totaling 500,000 square feet, and says it can deliver same-day to 75% of the population and next-day to 85%. Part of the new funding will be used to increase its geographic coverage and expand service availability.

  • Nuvocargo

    Participated · Equity · Dec 2021

    Nuvocargo operates an all-in-one digital platform for cross-border trade between the U.S. and Mexico, centralizing freight and customs workflows. Its product suite includes Freight, QuickPay, and Customs, which help shippers centralize both freight and customs processes. The company is led by Founder/CEO Deepak Chhugani and is focused on simplifying US/MX OTR cross-border freight supply chains for U.S.-based brands. Nuvocargo plans to continue investing in Nuvo OS to expand capabilities and serve all major border crossings. It will also ramp up business development efforts and scale its existing products to support growth. The company recently raised new capital and holds a valuation north of $250M. Nuvocargo provides a single platform and marketplace that integrates freight forwarding, customs brokerage, cargo insurance and trade financing to simplify cross-border movement between Mexico and the U.S. The company pairs software with a transportation network and compliance expertise to offer end-to-end visibility and operations. It began operations in late 2019 and has scaled its team from about 30 to 90 since April. Nuvocargo is rolling out financial products such as QuickPay for carriers (a cash-advance product) which has been in private beta and is growing processing volumes ~35% weekly, recently crossing seven figures in annualized transaction volume. Management reports revenue growth of roughly 30% month-over-month, expects “tens of millions” in 2022 revenue, and is on track for 5x revenue growth versus 2020. The company estimates a large addressable market for QuickPay (around $20 billion annually) as roughly 10 million trucks move cargo between Mexico and the U.S. each year. Nuvocargo offers an all-in-one service that bundles freight forwarding, customs brokerage, cargo insurance and trade financing into a single UI-friendly software and app. The platform centralizes tracking and creates a single audit trail to reduce administrative overhead and improve visibility across the U.S.-Mexico border, according to CEO Deepak Chhugani. Nuvocargo has added factoring (short-term accounts receivable finance) to address long payment cycles for trucking companies and is starting to offer trade financing. The company views trade financing as a strategic opportunity because its customer relationships provide insight into credit and fraud risk. Investors say the fintech adjacency around lending, factoring and insurance was a key attraction. Financially, Nuvocargo closed a $12M Series A after raising a $5.3M seed nearly a year earlier; valuation was not disclosed. Nuvocargo provides a cloud-based, bilingual managed marketplace and tracking dashboard that digitizes cross‑border trucking steps with timestamps, geo-tracking and document housing. Its free software centralizes shipment status and allows customers to request shipments via WhatsApp, email or SMS. The company aims to house the entire shipping process within its platform to simplify U.S.–Mexico freight that today relies on paper, phone calls and faxes. Nuvocargo works with dozens of customers ranging from beverage companies to multi-billion-dollar corporations and is a 15-person startup. It highlights that U.S.–Mexico trucking handles roughly 6.5 million shipments a year and that 80% of goods between the countries move by truck. With the new seed funding the company plans to hire in product, operations, finance and engineering across its New York and Mexico offices and is prioritizing work with companies moving essential goods during the coronavirus pandemic. Nuvocargo also says it is working to give drivers more predictable business and faster pay.

Team

No current team members are available.