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Flexport’s Acquisition of an Amazon Exec 🚢

Flexport’s Acquisition of an Amazon Exec 🚢
June 13, 2022

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Flying into JFK the other day, I was reminded of the ongoing supply chain crisis in our seaports and on our shelves. The coastline was spotted with cargo ships, some full and some empty, waiting to access the New York and New Jersey ports. Heck, even our sriracha supply isn’t safe from these problems. But the NY/NJ port system has been successfully gaining ground in shipment volume by working with logistics managers who are avoiding bottlenecks on the West Coast.

Still, we are not immune from seeing similar bottlenecks as other ports, causing delays, coastline traffic, and increasing prices on consumer goods. It turns out that the empty cargo ships I saw dotting the coast line were stuck waiting for shipping containers to be emptied amidst continuing labor disruption in the trucking industry. The NY/NJ port system is doing what it can by freeing up space to store empty containers and trying to work with technologists to shore up the existing systems.

Cue the supply chain nerds.
Flexport has been trying to make sense of handwritten customs orders and the rise of e-commerce shopping since 2013. The company has recently reached an $8BN valuation for its supply chain management software and technology solutions and also recently announced it is passing the CEO torch to Amazon exec Dave Clark to bring the company to the next level with increased efficiency in shipments and a greater emphasis on automation. Presumably, he’ll also do his part to avoid “container loss,” the surprisingly common incidence of entire containers burning up, getting stolen, or simply falling into the ocean.

Clark is clearly qualified. Here is a glowing review from a recent Fortune feature: as “an Amazon employee since 1999, Clark built out the company’s multi-billion-dollar global operations, with a workforce of more than one million and a global logistics network including many thousands of planes, robots, trucks, and warehouses.”

Learn more about current CEO Ryan Peterson’s trajectory as a modern-day shipping magnate here.

Since last week, PrivCo has added:
2,104 Companies | 266 Funding Activities | 173 M&A Deals

Funding & Deal Highlights:

Vanta raises $110MM from Craft

Compliance • Round B • San Francisco, CA

Bicycle raises $50MM from InterAlpen

Healthcare • Round B • Boston, MA

Mineralys raises $118MM from RA Capital

Drug Research • Round B • Radnor, PA

Codat raises $100MM from JP Morgan

Fintech • Round C • London, United Kingdom

Middesk raises $57MM from Insight Partners

Enterprise Software • Round B • San Francisco, CA

SuperTeam raises $10MM from Griffin

Blockchain • Seed • San Jose, CA

HYCU raises $53MM from aCrew 

Cloud • Round B • Boston, MA

Klar raises $90MM from General Atlantic

Finance • Equity • Mexico City, Mexico

SecureSave raises $11MM from Truist

SaaS • Equity • Kirkland, WA

Entropy raises $25MM from Andreessen Horowitz 

Blockchain • Seed • New York, NY

United Talent Agency acquires Mediahound

Entertainment • Acquisition • El Segundo, CA acquires UpNest

Real Estate • Acquisition • San Mateo, CA

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