Clutter Raises $200M from SoftBank

0
Clutter Raises $200M from SoftBank
Spatial Reasoning: Clutter offers on-demand storage service.

Clutter Inc. raised $200 million in a Series D funding round, which will fuel plans to expand across the United States.

SoftBank Group Corp.’s Vision Fund led the investment. SoftBank Investment Advisers Director Justin Wilson will join Clutter’s board as the company tries to disrupt the $38 million U.S. storage industry by adding app-based pickup and delivery.

The Culver City-based company founded by Ari Mir and Brian Thomas about four years ago hopes its on-demand approach will set it apart from competitors like Public Storage. The service operates in nine major metro markets.

“We believe that storage is a vast and traditional market with huge potential for disruption, and Clutter’s technology and superior customer proposition will help facilitate future growth in expanding urban communities where space is at a premium,” Wilson said.

The latest funding round brings total capital to $297 million. The company said it has more than doubled customers and revenue since its last round of funding in June 2017. It now operates 1.7 million square feet of warehouse space.

No posts to display