We Raised $31 Million to Make Moving Fun, Not a Nightmare
Today we’re excited to announce that we’ve raised $31.4 million in our Series C financing led by Advance Venture Partners, with participation from Canaan, Initialized Capital, Lerer Hippeau Ventures, and Nashville Capital Network.
In 2011, we began as a simple solution for college students moving on campus, but it quickly became clear that finding the right people to help you move wasn’t just a college problem — it was a national problem.
Since then, we’ve evolved to include moves of all sizes and distances, and focused on setting ourselves apart by recruiting friendly, hardworking people and using technology to connect them with customers in a seamless way. Because of our industry-first model, we are able to offer superior customer experiences and prices that are untouchable by the traditional incumbents.
The average person will move 11 times in their life, but very few have a good experience. The industry, which is dominated by large companies and local entrenched players, had over 6,000 reported complaints to the Better Business Bureau in 2015 for issues including pricing or delivery issues, lost and damaged property, and uncooperative employees.
We believe this dissatisfaction is the result of a model that has continually failed to attract high-quality workers. So we started from scratch and built an entirely new model that allows us to offer flexible hours and 20 to 30 percent higher pay than the rest of the industry. In turn, we attract the kind of workers customers feel comfortable having in their homes, while still keeping costs low. This strategy has earned us an average rating of 4.8/5, compared to the largest industry players, which hover in the 2s and 3s.
We knew we could upgrade the experience of moving with the right technology and great people, and the momentum speaks for itself. In 2018, we:
- Saw revenue grow 150 percent since last November
- Completed our 140,000th household move
- Expanded our services to include long-distance moving in every city we service
- Opened 10 new markets, including Chicago, Washington, DC, and Phoenix
- Awarded our $10,000 Moving Forward Scholarship to Grace Schulte, a sophomore at Iowa State University.
- Welcomed Susy Korb, former CMO of TOMs, and Gary Briggs, former CMO of Facebook, to our advisory board.
- Oh, and gave Walter, a mover on our platform who walked almost 20 miles to get to his first job, a reliable form of transportation. (P.S.: Our CEO still doesn’t have a car.)
Although we’ve made some huge strides toward changing the way people move and have some amazing things to celebrate, we’re just getting started. In 2019, we will double the number of cities we service, expand our two offices (the headquarters in Chattanooga and our new office in Atlanta), and develop new technology to make move estimation more precise and less time-consuming.
Sound exciting? If you’re interested in joining our growing team, get in touch.
Stay tuned for our next big move.