Clutter’s vision is to make your life more convenient, so you can experience more of what you love. Four years into realizing our vision, Clutter is now the world’s largest on-demand storage provider.
Now, millions of people can conveniently and affordably store their belongings with Clutter in Los Angeles, New York, San Francisco and the Bay Area, Seattle, Chicago, Philadelphia, New Jersey, San Diego and Orange County.
To do this, we undertook the difficult but crucial task of building a vertically integrated supply chain that, to date, includes 500 W-2 team members, nearly 2 million square feet of warehouse space, a fleet of over 200 trucks and a proprietary technology stack that intelligently manages these resources.
Today, we’re excited to announce we’ve closed a $200 million Series D round of financing led by the SoftBank Vision Fund with participation from Sequoia Capital, Atomico, GV (formerly Google Ventures), Fifth Wall Ventures and Four Rivers. This funding will accelerate our expansion into new markets in 2019, including Philadelphia, Portland and Sacramento. We’re also doubling down on our existing markets as we march toward our goal of operating in America’s largest 50 cities and expanding internationally.
When we embarked on our Series D fundraising process this January, we knew we wanted a capital partner with a long-term focus and an ambitious mandate. With $100 billion in capital to invest and a long-term time horizon, SoftBank’s Vision Fund is undoubtedly financing infrastructure for the society of tomorrow and we couldn’t be more excited to become a long-term partner with them.
Tomorrowland
Fifty-five percent of the world’s population lives in cities; in the next few decades, that number is predicted to climb to 70 percent. Available real estate within cities will become increasingly more scarce and therefore, more expensive.
In the U.S., self-storage facilities consume more real estate than all of our nation’s Starbucks and McDonald’s combined. A self-storage facility, on average, employs just two people and generates little taxable income for the city in which it is located.
Clutter’s logistics network and supply chain leverages real estate in industrial zones far outside the city center. As a result, we give cities back precious real estate that can be repurposed for affordable housing, parks or other more value accretive causes. We also employ and provide benefits to a large pool of hourly laborers who help deliver the service.
Since the beginning, we envisioned Clutter as a part of the fabric of society. Today, we’re excited to say that the infrastructure we’re building with the help of partners like the SoftBank Vision Fund will facilitate the continued urbanization of the world.
