Atlanta based MyPorter announced that it has secured an investment of US$ 2.2M on 14 September 2020.
The investment was led by angel investors and CEOs including Wes Matelich (CEO of Rx Green Technologies) and Ken Haines (CEO of Atlanta-based The Wrench Group), who have expertise in essential services, real estate, technology and finance.
The funds will be used to drive accelerated market share gains in the Atlanta market and for expansion into new markets as well.
About MyPorter
Founded in 2015 by Jason Kay, MyPorter is reinventing the way consumers and businesses move and store their items. It is a valet storage startup that brings a new level of customer service and online experience by providing the easiest storage option possible. Customers can schedule pickups, maintain a visual catalogue of stored items and schedule deliveries with the help of their online platform.
“I saw a unique opportunity with MyPorter to upset an essential services industry that would have a lasting impact locally and, potentially, nationally as well. It’s exciting to be an early investor in a company disrupting a decades-old industry in a ‘make or break’ market like Atlanta,” said investor Ken Haines.
In 2015 the self-storage industry was valued at US$ 38B. After launching its services in 2015, MyPorter remained in the beta stage until mid-2016, when co-CEOs John Foshee and Robert Crump joined the team. Till 2017, the company was funded with the CEOs’ personal capital. The first major outside capital came in January 2018. “Robert and I eschewed the traditional institutional funding sources when we started out because we wanted to truly understand the basic mechanics of the business and build the company from the ground up in order to ensure we started from a solid foundation from which to drive sustainable growth for the business model that we envisioned,” said John Foshee (CEO). They are looking forward to a Series A funding soon for expansion to South-East regions in USA.
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