Innovative Storage Solution Company MyPorter Closes Funding Round Led By Florida Funders
TAMPA, Fla. (August 24, 2020) — Florida Funders, a hybrid of a venture capital fund and an angel investor network, announced the closing of its funding round in MyPorter, an Atlanta-based startup reinventing the way consumers and businesses move and store their items. MyPorter provides a full-service, subscription-based solution that uses logistics and technology to pick up, catalog, and facilitate storage of customers’ items online. MyPorter will use the funding to expand operations into Tampa, Florida within the next six months.
MyPorter selected Tampa as its next market due to its rapid growth as a city and Florida Funders’ connections in the community that would allow MyPorter to expand rapidly. This latest round of financing brings MyPorter’s total funding to date to over $2 million, with the goal of eclipsing $3 million over the next 90 days.
MyPorter’s custom subscription and pricing model sets it apart from competitors by allowing customers to only pay for the space they are using through a fixed rate, which doesn’t increase annually. As customers periodically ask to pick up and deliver their items in storage, MyPorter can dynamically alter each consumer’s subscription price to reflect the actual square footage being used in their warehouse. This model is a complete deviation from the traditional self-storage business as consumers have historically been forced to select a unit that best fits the total number of items looking to be stored and pay a monthly flat fee based on that storage facility’s model, all while any movement of items must be done by the consumer manually. MyPorter’s solution enables customers to manage and request their stored items to be delivered to or picked up from their doorstep within 24 hours of a request.
“MyPorter streamlines the chaotic storage process into a simple, painless process for customers and brings the storage industry into the digital age. Instead of multiple providers, stressful coordination, and days of work, MyPorter handles all of the logistics, inventorying, and storage in one seamless motion,” said Robert Crump, CEO and Founder of MyPorter. “We are excited to partner with Florida Funders as we expand across the Southeast and reach more households and businesses.”
Since their Atlanta launch in February 2018, MyPorter has expanded their fleet to 10 plus trucks. In addition, they have amassed 250,000 sq. feet of warehouse space, offering over 1,000 storage units, and supported by an organization of 30+ full-time employees. MyPorter also partners with independent contractors to facilitate pickups and deliveries. Within four years, MyPorter expects to be the Southeast’s dominant player and has plans to expand into four additional markets (Miami, Orlando, Charlotte, and Nashville).
“MyPorter is disrupting and will continue to impact the $40 billion residential storage market and has future plans to expand further into the $90 billion commercial storage market,” said Tom Wallace, managing partner at Florida Funders. “We believe that MyPorter’s customer-centric technology, efficient logistics, industrial-grade storage processes, and low-cost storage services will make them a market leader for years to come.”
Florida Funders connected with MyPorter at Venture Atlanta in 2019, a premier venture capital conference in the southeast. Chad Harrod, CEO of Harrod Properties, Inc., a commercial real estate development company and operating partner for MyPorter, will represent Florida Funders as a member of MyPorter’s Board of Directors.
Florida Funders, recently named the top VC in the Southeast region by Pitchbook, is focused on discovering, funding, and building early-stage technology companies in the state. Through its community of over 1,400 accredited investors, proven track record of successful exits, and a seasoned, dedicated team, its work is furthering Florida’s startup and business ecosystem.
About MyPorter Inc.
MyPorter is an Atlanta-based startup reinventing the way consumers and businesses move and store their items. The full-service storage company brings a new level of customer service and online experience to the industry by creating the easiest storage option possible. Its online platform allows customers to schedule pickups, maintain a visual catalog of stored items, and schedule deliveries directly to their home or business. For more information, visit www.myporter.com.
About Florida Funders, LLC
Florida Funders is a hybrid of a venture capital fund and an angel investor network that together discovers, funds and builds early-stage technology companies in Florida. We exist to evolve Florida from the Sunshine State to the Startup State by ensuring there is as little friction as possible in the ecosystem, that investors have access to meaningful deal flow and entrepreneurs have access to a wide range of accredited investors. Florida Funders educates and ignites its community of investors and network of partners to drive investment in the most exciting startups Florida has to offer. Our one of a kind angel investor network provides transparency, fosters communication, and empowers strategic relationships between the investor network and the founders. Our team is composed of serial entrepreneurs, venture capitalists, and experienced angel investors singularly focused on uncovering Florida’s next breakout technology company. To learn more, visit www.floridafunders.com
Carve Communications for Florida Funders