Chattanooga-based Bellhops, the nation's first tech-enabled moving company, announced Tuesday that it has raised more than $31 million in its Series C round of funding. This caps a momentous year for the company in which it expanded into 10 new cities and increased its revenue by 150 percent.
In 2019, Bellhops will double the number of cities it services and increase its total number of employees. It will expand its headquarters in Chattanooga at Warehouse Row and open a second office in Atlanta. The company will also invest in developing new technology geared toward making move estimation more precise and less time-consuming, officials said.
“Moving is one of the biggest industries that has yet to be reimagined for the digital age, but Bellhops is well on its way to redefining the market,” said Courtney Robinson, Partner at AVP Growth. “They are leveraging technology not only to improve the business model but also to provide an excellent customer experience. We are excited to be a part of the next chapter.”
Founded in 2011, Bellhops began as a simple solution for students moving into and out of their college dorms. After early success, however, the company expanded its offerings to include moves of all sizes and distances, and focused on setting itself apart by recruiting friendly, hardworking people and using technology to connect them with customers in a seamless way.
Cam Doody, Bellhops’ founder and president, said, “The standard industry model is inefficient and struggles to attract the type of workers that customers want in their homes. Knowing this, we created a model that allows us to offer flexible hours and 20 to 30 percent higher pay than the rest of the industry. In turn, we attract the kind of workers we feel proud of while still keeping costs low.”
Bellhops is rapidly approaching its 200,000th move and can boast that more than 20 percent of its customers reuse its services for multiple needs within a given year. CEO Luke Marklin said, “We knew we could upgrade the experience of moving with the right technology and great people, and the momentum speaks for itself. We’ve made some huge strides toward changing the way people move, and have some amazing things to celebrate, but we’re just getting started.”
This past summer the company became the focus of a viral news story when CEO Marklin gave his car to a mover who walked almost 20 miles to get to his first job.
The funding was led by Advance Venture Partners, with participation from Canaan, Initialized Capital, Lerer Hippeau Ventures, and Nashville Capital Network.