Seattle startup Flexe raised an additional $10 million as part of its Series C funding round announced in December. Flexe CEO Karl Siebrecht said there was more investor interest than anticipated.
“That combined with our evolving assessment of how many growth opportunities there are in front of us to further invest in is what drove the expansion of the round,” Siebrecht said.
Flexe initially raised $70 million in December as part of the round. Total funding to date is now $144 million.
Flexe operates a marketplace that gives retailers such as Walmart and Staples a way to purchase warehousing space on an on-demand basis. The startup has described itself as a “warehousing-as-a-service” company and is seeing huge tailwinds from an increase in online sales amid the pandemic. Nearly 2,000 warehouses across the U.S. and Canada use Flexe’s software to bid on various offers, up 50% from last year.
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News – Flexe extends Series C round, raises another $10M for warehousing tech platform