UPDATED 20:52 EDT / FEBRUARY 20 2019

APPS

On-demand goods storage startup Clutter raises $200M to expand into new markets

On-demand goods storage startup Clutter Inc. today said it has raised $200 million in new funding to allow it to expand into new markets.

The Series D round was led by SoftBank Vision Fund and included Sequoia Capital, Atomico, GV, Fifth Wall and Four Rivers. Founded in 2013 and often described as the “Uber of storage,” Clutter offers a service that allows users to store extra belongings elsewhere without leaving their house.

Storage may sound old-school, but Clutter brings a tech take to the industry by indexing and storing goods individually. That allows users not only to check on whether their item is safely stored via the Clutter app but also to use the app to have individual items returned to them, negating the need to unpack and rummage through boxes when a single item is required.

Users access an app to book a pickup time for the items they want to have stored. Then a driver packs, photographs and catalogs the items requiring storage before taking them to one of Clutter’s storage facilities.

“Before Clutter, the storage customer experience had been largely unchanged since the first self-storage facility opened in the 1960s,” Clutter co-founder and Chief Executive Ari Mir said in a statement. “To store their stuff, consumers’ only option was to bear the burden of moving their items in and out of storage themselves. If people don’t want to leave the house to pick up Chinese food, why would they want to spend their Saturday renting a truck and lugging their stuff to storage?”

The self-storage market in the U.S. is said to be worth $38 billion annually, with nearly 10 percent of households using it. If Clutter can get even a small slice of the existing market, it potentially could make plenty.

Including the new round, Clutter has raised $297 million. The company’s last round of funding came in June 2017 via a $64 million round led by Atomico, an investor in the new round.

Image: Clutter

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