Atlanta concierge storage service startup MyPorter bags $2.2 million in funding to disrupt the antiquated $38 billion self-storage industry
MyPorter, an Atlanta-based startup reinventing the way consumers and businesses move and store their items, today announced it has raised $2.2 million to drive accelerated market share gains in the Atlanta market and prepare for expansion into new markets in first quarter of next year. The investment round was led by a series of angels and CEOs with expertise in essential services, finance, real estate and technology, and others.
Founded in 2015 to disrupt the antiquated $38 billion self-storage industry, MyPorter is evolving the storage game, with door-to-door pickup and killer customer service, all in an easy to use online platform. The startup launched its concierge storage services in Atlanta and the surrounding metro areas. MyPorter is expecting to exceed more than 10,000 customer jobs this year and plans to offer consumers and a growing portfolio of businesses a more convenient, faster and more reliable way to store their belongings. By bringing the entire process online and on-demand, MyPorter’s platform enables customers to schedule their pickup, maintain a visual catalog of stored items and schedule a delivery directly to their home or business.
“I saw a unique opportunity with MyPorter to upset an essential services industry that would have a lasting impact locally and, potentially, nationally as well,” states Ken Haines. “It’s exciting to be an early investor in a company disrupting a decades-old industry in a ‘make or break’ market like Atlanta.”
After formation in April 2015, MyPorter remained in the beta stage until mid-2016, when co-CEOs John Foshee and Robert Crump joined the team. Throughout 2017, the company was funded with the CEOs’ personal capital, with Foshee and Crump literally also putting their sweat equity in the business as the company’s early movers and drivers. The first major outside capital came in January 2018.
“I’ve known Rob since college and can see the confidence he and John have in this company, leaving lucrative careers in private equity and consulting to change the face of an established, but antiquated, industry,” explains Wes Matelich. “They see enormous potential, as do I, to bridge the moving and self-storage industries while bringing the customer experience online for a more on-demand user experience. They have already proven the viability of this on-demand service for both consumers and businesses over the past several years, and I am excited to help continue the expansion in Atlanta and beyond.”
“Robert and I eschewed the traditional institutional funding sources when we started out because we wanted to truly understand the basic mechanics of the business and build the company from the ground up in order to ensure we started from a solid foundation from which to drive sustainable growth for the business model that we envisioned,” explains Foshee. “Choosing this path has allowed us to create a model that is extremely scalable and investor-friendly. We’re excited about the high caliber of investors we’ve engaged up to this point and look forward to our southeast expansion while we pursue our Series A.”