Seattle-based online portals company FLEXE has secured $43 million in Series B funding, according to company database Crunchbase, topping the city’s recent funding headlines. The cash infusion was announced on May 7 and led by Tiger Global Management.
According to its Crunchbase profile, "FLEXE is a warehousing company that connects organizations in need of additional space to organizations with extra space. The company's cloud-based platform powers unified warehouse sourcing and set up, while also streamlining material handling operations. FLEXE requires no technology investments, long-term leases, or process interruptions."
The six-year-old company has raised three previous funding rounds, including a $14 million Series A round in 2016.
The round brings total funding raised by Seattle companies in internet services over the past month to $61 million, an increase of $48 million from the month before. The local internet services industry has seen 54 funding rounds over the past year, securing a total of $620 million in venture funding.
In other local funding news, clothing company TomboyX announced an $18 million Series B funding round on May 13, financed by The Craftory.
According to Crunchbase, "We started with clothes and accessories with tomboy style. Then we listened to our customers — they wanted comfortable, functional undergarments. We delivered…and tripled our revenue in six months."
Founded in 2012, the company has raised four previous rounds, including a $4.3 million Series A round in 2018.
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