When we were raising money in Flexport’s earlier days, it wasn’t an obvious choice for most investors. Fundamentally, we’re coordinating the complexity of the supply chain, which has to happen both within our software and within the real world. This meant that not only did I have to teach investors about the freight market – which few people are familiar with – but our P&L wasn’t anything like the attractive 90% margins that software-only companies enjoy.
When we met Wesley in our pre-seed days, it was clear that he just got it. The world of logistics was sorely in need of new blood, and even a double or single-digit profit margin can be massive if the opportunity is big enough. By the time YC Demo Day rolled around, Wesley continued to be an advocate for us, whispering in a few ears and helping us lock down some of the most successful early-stage investors.
Since then, Wesley’s backed us every step of the way – having been involved in each one of our funding rounds, as well as helping us make a few of our early hires. Now, we’re one of the first investments from the FPV fund, and we’re happy to have the chance to support the fund early on in their journey as they did in ours.