13 Apr Clutter Expands On-Demand Storage Service with $20 Million Fund
By Alex Hassel, Storage.com
On-demand storage services continue to spread across the United States. Most recently, Los Angeles-based Clutter announced that it raised $20 million from Sequoia Capital for its Series B fund. This is happening after Sequoia just led Clutter’s $9 million Series A fund in late 2015. Clutter will use the funds to speed up expansion throughout the top metro markets in the U.S.
Clutter first launched its on-demand storage service in 2013. Co-founders Brian Thomas and Ari Mir wanted to offer their own way of making storage more convenient. Like other on-demand storage companies, Clutter sends professional movers to help pack and transport clients’ belongings to a safe storage facility. When a customer wants something back, they can then browse through online photos of their storage unit and select items they want returned. Clutter makes the delivery within 48 hours. Pricing varies by the size of storage space needed and geographical location, although all plans include a truck and at least two hours of free labor from Clutter.
Since it raised capital with its Series A fund, Clutter has already grown five times larger. The company now operates in Los Angeles County, Orange County, San Diego, the San Francisco Bay Area, and Ventura County in California, as well as in New York and New Jersey.
It was Clutter’s success that led Sequoia to invest again. “Clutter’s strong use of technology enables them to provide a step-function better storage experience at price parity with the incumbents in this $30 billion market,” says Omar Hamoui, a partner at Sequoia. “Brian, Ari, and their team team have surpassed all our expectations, and we’re excited to double-down on our support for their efforts to build a transformative company.”
“To have had Sequoia, an investor in Google, Apple, YouTube, and other landmark companies, lead both of our rounds is a true testament to their belief in not only the team that we’ve created, but the market opportunity ahead of us,” Thomas says. “Sequoia’s world-class guidance and resources will allow us to continue our vision of making the world more convenient.”
Clutter also has other major backers like Wonder Ventures and Resolute Ventures. There is no word yet on when and where Clutter will expand with its Series B fund.
Image provided by Clutter.