Clutter Raises $200M for Fund to Fuel Storage Company’s Expansion
The Series D funding round was led by SoftBank Vision Fund with participation from Sequoia, Atomico, GV, Fifth Wall and Four Rivers.
CULVER CITY, CA—National storage and moving services firm Clutter reports it has raised $200 million Series D funding that will help finance in part its growth in key new markets across the United States.
The Series D funding round was led by SoftBank Vision Fund with participation from Sequoia, Atomico, GV, Fifth Wall and Four Rivers.
The company says the newly acquired financing will accelerate its expansion into new markets in 2019, including Philadelphia, Portland and Sacramento. The firm will also expand its presence in existing markets in the greater metropolitan areas of New York, San Francisco, Los Angeles, Chicago, Seattle, San Diego, Orange County and northern New Jersey. The firm has a goal of operating in America’s largest 50 cities and expanding internationally.
The company reports that as part of this round of funding, Justin Wilson of SoftBank Investment Advisers will join the company’s board of directors.
Clutter co-founder and CEO Ari Mir says, “Now, we are capitalized to lead the creation of new infrastructure across the moving and storage space. SoftBank’s investment is the ultimate vote of confidence. This puts us in a position to continue to lead the on-demand storage space and challenge the self-storage incumbents head on.”
The latest round of financing brings Clutter’s total funding to $297 million. Since Clutter raised its Series C funding round in June 2017, the company has more than doubled its revenue and number of customers, the company reports. Clutter has grown its warehouse footprint to more than 1.7 million square feet of leased and operated warehouses.
The firm, which began operations in 2015, currently provides storage services in New York, San Francisco, Los Angeles, Orange County, San Diego, Chicago, New Jersey, Philadelphia and Seattle.