The Warehowz funding success of $2.34 million continues to bolster the Richmond-based startup’s industry positioning as a leading on-demand warehousing marketplace. Since its inception in 2017, Warehowz has raised over $12 million, establishing itself as a bridge between companies seeking warehouse space and more than 2200 professional warehouses. The company’s advanced technology simplifies the matching process while providing a transactional platform that streamlines operations. The recent funding round saw participation from 22 investors, indicating strong support for the company’s promising trajectory. As Warehowz continues to form strategic partnerships and receive industry recognition, it reinforces its commitment to revolutionizing the warehousing industry, particularly in the current climate of increased demand for flexible warehousing solutions due to COVID-19.
Introduction
By Tim Ryan
Recent Funding and Growth
Richmond-based startup, Warehowz, is making significant strides in the on-demand warehousing sector. With a recent equity funding of $2.34 million, as reported by a Securities and Exchange Commission filing, the company’s total raise has surpassed $12 million since its inception in 2017.
Market Position and Technology
Warehowz stands out as the largest on-demand warehousing marketplace, bridging the gap between companies seeking warehouse space (“Depozitors”) and over 2200 fully vetted, professional warehouses (“Howzers”). Their cutting-edge technology simplifies the matching process and offers a transactional platform that streamlines all post-search operations. This integration with a Howzer’s existing WMS and the provision for automatic payment processing showcases Warehowz’s commitment to flexibility and efficiency.
Investor Support and Partnerships
This recent funding round, which saw participation from 22 investors, is a testament to Warehowz’s promising trajectory. The company aims to raise up to $3 million, and with their history of oversubscribed rounds, this goal seems well within reach.
One notable supporter of Warehowz’s vision is 757 Angels, a nationally recognized angel investment group. As a portfolio company of 757 Angels, Warehowz has garnered attention and support from influential industry stakeholders.
Warehowz’s strategic partnerships further solidify its position in the market. Their recent collaboration with Pennsylvania’s third-party logistics company, Nexterus, aims to assist customers in finding excess warehouse space. This move aligns with Warehowz’s vision of connecting transport firms with its warehousing services. As Chief Revenue Officer Rich Oprison aptly put it, their 3PL partnerships have diversified their clientele, ranging from pizzas to caskets.
Past Achievements and Industry Recognition
Reflecting on their past achievements, Warehowz closed a second series seed funding round of $1.2 million in September 2020. Their graduation from the renowned Silicon Valley accelerator, Plug and Play, coupled with endorsements from industry leaders like Estes Express Lanes and Estes Forwarding Worldwide, underscores Warehowz’s potential to revolutionize the warehousing industry.
Future Outlook
CEO Darrell Jervy encapsulates the company’s mission, stating, “Warehowz is helping our customers find warehouses faster and more easily than ever before.” With the recent surge in demand for flexible warehousing solutions, especially in the wake of COVID-19, Warehowz’s innovative approach couldn’t be more timely.
In conclusion, Warehowz’s latest capital raise is not just a testament to its financial growth but a reflection of its unwavering commitment to disrupting the warehousing industry. As they continue on this upward trajectory, the future of on-demand warehousing looks promising.
Question & Answer
What was the recent funding success of Warehowz?
The recent funding success of Warehowz amounted to $2.34 million, bringing their total raise to over $12 million since their establishment in 2017.
How does Warehowz differentiate itself in the on-demand warehousing marketplace?
Warehowz is the largest on-demand warehousing marketplace, connecting companies seeking warehouse space with over 2200 professional warehouses. Their advanced technology simplifies the matching process and offers a transactional platform for streamlined operations.
How many investors participated in Warehowz’s recent funding round?
22 investors participated in Warehowz’s recent funding round, indicating strong support for the company’s trajectory and potential.
What strategic partnerships has Warehowz formed to strengthen its market position?
Warehowz has formed strategic partnerships, including one with Pennsylvania’s third-party logistics company, Nexterus, to help customers find excess warehouse space. These partnerships aim to connect transport firms with Warehowz’s warehousing services.
