Rapidly growing warehouse marketplace secures funding to address increased demand for faster shipping and flexible storage
RICHMOND, Va. – September 15, 2020 – (Newswire.com)
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.
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.
“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.
“Warehowz is helping our customers find warehouses faster and more easily than ever before,” said Martin. “As Estes works to address the shipping needs of customers across the globe, it gives us tremendous confidence that we can partner with Warehowz to address their storage needs as well.”
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.
“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
Jennifer Vaziralli jennifer@warehowz.com