Richmond-based startup Warehowz, a pioneer in on-demand warehousing, has successfully closed a second series seed funding round, raising a total of $1.2 million. The funds will be used to drive sales and partnership efforts, as well as further development of Warehowz’s cloud-based technology platform. Following their graduation from leading Silicon Valley accelerator Plug and Play, Warehowz is set to capitalize on the shifts in supply chain dynamics and the growing demand for flexible warehousing solutions. This fresh pool of funding also allows the company to expand its direct sales and partnership activities, and streamline warehouse search, contracting, and invoicing processes, indicating further on-demand warehousing growth. The recent investment by industry leaders, including those from Estes Express Lanes and Estes Forwarding Worldwide, underscores the ongoing evolution of the warehousing storage and fulfillment sector towards a more agile, technology-enabled supply chain industry.
Introduction
Rapidly growing warehouse marketplace secures funding to address increased demand for faster shipping and flexible storage
RICHMOND, Va. – September 15, 2020 – (Newswire.com)
Funding Announcement
Warehowz announces the close of a second series seed funding round totaling $1.2 million. The raise will fuel sales and partnership efforts and enable further development of Warehowz’s cloud-based technology platform.
Investor Groups
On the heels of graduating from Plug and Play, a leading Silicon Valley accelerator, Warehowz, a Richmond-based startup and pioneer in on-demand warehousing, is well-positioned to capitalize on the shifts in supply chain and the demand for more flexible warehousing solutions. The latest round of funding was oversubscribed and included investor groups such as 757 Angels, one of Angel Capital Association’s Top 10 angel groups. The round also included participation from industry executives representing Estes Express Lanes and Estes Forwarding Worldwide.
Industry Leaders’ Participation
“We are excited to add Warehowz to the 757 Angels Investment Portfolio. This is exactly the type of scaling startup that our group likes to invest in. Warehowz has experienced tremendous growth in the wake of COVID-19 highlighting the importance of disrupting supply chain technology that enables businesses to respond to change.” – Monique Adams, Executive Director, 757 Angels
Supply chain industry leaders Scott Fisher, CEO and President of Estes Forwarding Worldwide and Pat Martin, Vice President of Corporate Sales and Strategic Planning at Estes Express Lines also participated. Such an investment suggests that the evolution of warehousing storage and fulfillment is here and signals an inevitable move toward a more agile and technology-enabled supply chain industry.
Expansion Plans
“A fresh pool of funding will enable Warehowz to expand its direct sales and partnership activities. Enhancements, including those related to streamlining warehouse search, contracting, and invoicing, are slated to be complete by the end of the year. The demand for flexible warehouse space has increased in recent months due to COVID-19 and tightening global supply chains.”
CEO Statement
“Additional support and innovation couldn’t come at a better time as Warehowz has experienced an increase in inbound interest in recent months.” – Darrell Jervey, Chief Executive Officer, Warehowz
About Warehowz
Warehowz’s cloud-based platform connects warehouses with excess space to companies in need of storage and fulfillment services. Its solution has a simple yet worthy goal of helping warehouses monetize their space by offering services to high-quality tenants with shorter-term projects. Similarly, Warehowz partners with companies by helping them find the right warehouse space where they need it and when they need it – all while avoiding long-term contracts. For more information visit www.warehowz.com
Contact:
Jennifer Vaziralli jennifer@warehowz.com
Question & Answer
What is the total amount raised in Warehowz’s second series seed funding round?
The total amount raised in Warehowz’s second series seed funding round is $1.2 million.
How will the funds from the funding round be used?
The funds will be used to drive sales and partnership efforts, as well as further development of Warehowz’s cloud-based technology platform.
Which industry leaders participated in the recent investment in Warehowz?
Industry leaders such as Scott Fisher, CEO and President of Estes Forwarding Worldwide, and Pat Martin, Vice President of Corporate Sales and Strategic Planning at Estes Express Lines, participated in the recent investment in Warehowz.
What does Warehowz’s cloud-based platform aim to achieve?
Warehowz’s cloud-based platform aims to connect warehouses with excess space to companies in need of storage and fulfillment services, helping warehouses monetize their space and offering services to high-quality tenants with shorter-term projects.
