Miami, the U.S.A-based fintech-driven moving marketplace innovator, Shyft raised USD 16 million in recent funding. The Series B round took place on September 15, 2022. Munich RE Ventures and OurCrowd joined in as new investors. Meanwhile, existing investors, including Inovia Capital and Blumberg Capital, participated in the funding.
The company also announced the appointment of Randal Meske as the new Chief Executive Officer (CEO).
Purpose of financing for Shyft
With the latest proceeds from Series B, Shyft intends to expand its solutions and value to customers.
The company has plans to focus the expansion across top global markets and demographics for relocation and moving.
What the CEO has to say
Randal Meske, new Chief Executive Officer at Shyft, said, “I am thrilled to join the Shyft team for the company’s next phase of growth. I believe we have the team and technology to disrupt the relocation industry by replacing legacy tools with a holistic technology solution.”
Meske is a go-to-market and growth leader and also possesses decades of leadership experience. Previously he has had roles at Software-as-a-Service (SaaS) startups and industry heavyweights such as IBM, Lotus, IHS Markit and Oracle.
He further added, “We are focused on accelerating the modernization of the moving industry and helping moving companies grow their business while making it easier for individuals and families to move into their new homes.”
What the investor has to say
Todd Simpson, General Partner at Inovia Capital, said, “We are excited that Randal is coming aboard to lead Shyft. His expertise and qualifications are perfectly suited to lead the company as it grows its partnerships, scales its solutions and extends its ecosystem for the moving industry.”
About the company
In 2015, Alex Alpert, Daniela Alpert, Erik Christensen, and Max Terry launched the company. The company operates in a market that generates approximately USD 86 million annually. Shyft provides digital infrastructure and supply chain solutions to the entire moving industry.
So far, the company has helped more than 300,000 moves with more than 800 moving companies and over 220 corporations. Moreover, it seeks to build partnerships and agreements with Relocation Management Companies (RMCs), real estate companies and membership organizations.
The company connects customers to the world’s best moving companies and provides pricing transparency. It also offers to integrate financial solutions for both those moving and suppliers. The vision is to continue reinventing the global moving industry by replacing analogue tools and thinking with an innovative and seamless end-to-end moving experience.
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