Global luggage storage network Bounce announces $19 million Series B to accelerate market expansion
Bounce, a global luggage storage network and US travel company, has announced a $19 million Series B funding round. The round was led by Sapphire Sport and included other new investors such as Thayer Ventures, FJ Labs, 20VC Growth, and Shilling, as well as existing backers Andreessen Horowitz and General Catalyst.
Bounce will use the cash to drive growth and expand its storage services to travellers and locals, including in the UK where it has more than 670 partners, including London, Edinburgh, Manchester and Cardiff.
Launched in 2019, it powers a storage network of more than 13,000 partners in 100 countries. Named the eighth fastest growing private company in the US by Inc5000 earlier this year, it has stored over six million bags to date, and says that it has generated tens of millions of dollars for small business partners since its Series A in 2022.
“We’re thrilled to partner with the Sapphire Sport team as part of our Series B round,” says Bounce Founder and CEO, Cody Candee.
“With their vast experience in collaborating with startups at our stage, the team’s detailed knowledge of rapid expansion, and their group of partners across global sport, entertainment, and culture, we’re excited to work together to redefine convenience and bring more opportunities to travellers and businesses everywhere.”
“Bounce is helping travellers and locals alike to not plan their days around their belongings, enabling them to fully embrace the experiences that bring them joy. We’ve been impressed by their ability to scale their storage network with speed and efficiency, and believe they’ve only begun to tap into the potential of serving diverse storage needs,” says David Hartwig, Partner and Rico Mallozzi, Principal at Sapphire Sport.
“We’re excited to see how this new capital will fuel Bounce’s growth into new markets and power storage operations at hotels and other venues. While Bounce already boasts a robust network of over 13,000 storage partners and millions of users, their roadmap and vision position them to eventually serve all aspects of a consumer’s storage and packaging needs.”
2024 RTIH INNOVATION AWARDS
Startups are a key focus area for the sixth edition of the RTIH Innovation Awards, which are now closed for entries.
The awards, sponsored by Vista Technology Support, Scala, CADS, 3D Cloud, Brightpearl by Sage’s Lightning 50, Business France, and Retail Technology Show 2025, celebrate global tech innovation in a fast moving omnichannel world.
Key 2024 dates
Friday, 25th October: Award entry deadline
Tuesday, 29th October: 2024 shortlist revealed
30th October-6th November: Judging days
Thursday, 21st November: Winners announced at the 2024 RTIH Innovation Awards ceremony, to be held at RIBA’s 66 Portland Place HQ in Central London.
Continue reading…