By Tim Ryan
Richmond-based startup, Warehowz, is making significant strides in the on-demand warehousing sector. With a recent equity funding of $2.34 million, as reported by a Securities and Exchange Commission filing, the company’s total raise has surpassed $12 million since its inception in 2017.
Warehowz stands out as the largest on-demand warehousing marketplace, bridging the gap between companies seeking warehouse space (“Depozitors”) and over 2200 fully vetted, professional warehouses (“Howzers”). Their cutting-edge technology simplifies the matching process and offers a transactional platform that streamlines all post-search operations. This integration with a Howzer’s existing WMS and the provision for automatic payment processing showcases Warehowz’s commitment to flexibility and efficiency.
This recent funding round, which saw participation from 22 investors, is a testament to Warehowz’s promising trajectory. The company aims to raise up to $3 million, and with their history of oversubscribed rounds, this goal seems well within reach.
One notable supporter of Warehowz’s vision is 757 Angels, a nationally recognized angel investment group. As a portfolio company of 757 Angels, Warehowz has garnered attention and support from influential industry stakeholders.
Warehowz’s strategic partnerships further solidify its position in the market. Their recent collaboration with Pennsylvania’s third-party logistics company, Nexterus, aims to assist customers in finding excess warehouse space. This move aligns with Warehowz’s vision of connecting transport firms with its warehousing services. As Chief Revenue Officer Rich Oprison aptly put it, their 3PL partnerships have diversified their clientele, ranging from pizzas to caskets.
Reflecting on their past achievements, Warehowz closed a second series seed funding round of $1.2 million in September 2020. Their graduation from the renowned Silicon Valley accelerator, Plug and Play, coupled with endorsements from industry leaders like Estes Express Lanes and Estes Forwarding Worldwide, underscores Warehowz’s potential to revolutionize the warehousing industry.
CEO Darrell Jervy encapsulates the company’s mission, stating, “Warehowz is helping our customers find warehouses faster and more easily than ever before.” With the recent surge in demand for flexible warehousing solutions, especially in the wake of COVID-19, Warehowz’s innovative approach couldn’t be more timely.
In conclusion, Warehowz’s latest capital raise is not just a testament to its financial growth but a reflection of its unwavering commitment to disrupting the warehousing industry. As they continue on this upward trajectory, the future of on-demand warehousing looks promising.
