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TechCrunch
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Bounce bags $19M to expand its traveler convenience network
- Bounce, a San Francisco-based luggage storage startup, has raised $19m in Series B funding to help finance its expansion strategy.
- Bounce revenue has grown 20x since the $12m Series A funding round in 2022 and is looking to expand from its core business towards more verticals.
- The startup’s focus over the next couple of years looks to be the Asia-Pacific region, where it is experiencing up to 4x revenue growth annually.
- Bounce for hotels is another vertical the company will be developing. This offers hotels the ability to offer luggage storage to guests via its platform.
- The fresh investment sees Bounce predicting it can reach around 30,000 locations by end of 2026, where it is focusing more on quality than quantity.
- Bounce’s network of physical location partners offers storage and delivery services to users around the world, and currently touches 4,000 cities in 100 countries.
- Existing investors including Andreessen Horowitz and General Catalyst joined 20VC Growth, FJ Labs, Shilling, and Thayer Ventures as new investors in the Series B.
- Cody Candee, co-founder and CEO of Bounce, said the company is targeting a vision of “cloud storage for the physical world” enabling mobile app users to find and access services for storing and moving their stuff.
- The startup can see which locations are in demand from searches conducted by its over 1 million users that access its platform each month.
- Bounce also plans to develop the user experience of its platform by integrating more with shipping and delivery firms, which could see users renting or accessing pretty much anything they need or want.
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