Shyft, a FinTech-powered marketplace aiming to reinvent the global moving industry, has raised $16m in Series B funding.
The round saw participation from new investors including Munich RE Ventures and OurCrowd, with participation also from existing investors, Inovia Capital and Blumberg Capital.
The FinTech also appointed Randal Meske as chief executive officer.
Meske is a veteran go-to-market and growth leader with decades of leadership experience, including roles at SaaS startups and industry leaders such as IBM, Lotus, IHS Markit, and Oracle.
Shyft replaces analog tools and thinking with an innovative and seamless end-to-end moving experience. The company believes mobility is a human right and that technology can and should be used to transform the way the world moves by “making all of life’s most important changes a stress-free experience”.
With 31 million people in the US moving each year, Shyft said that the moving industry generates an estimated $86bn annually.
Shyft provides digital infrastructure and supply chain solutions to the entire moving industry. This includes connecting customers to the world’s best moving companies and providing pricing transparency, to integrating financial solutions for both those moving and suppliers.
The company said it has so far facilitated more than 300,000 moves with over 800 moving companies and more than 220 corporations.
Shyft said it will use the new capital to expand its solutions and value to customers across top global markets and demographics for relocation and moving.
Speaking on his appointment and the company’s funding, Meske said, “I am thrilled to join the Shyft team for the company’s next phase of growth. I believe we have the team and technology to disrupt the relocation industry by replacing legacy tools with a holistic technology solution.
“We are focused on accelerating the modernization of the moving industry and helping moving companies grow their business, while making it easier for individuals and families to move into their new homes.”
Flexe, the programmatic logistics leader, recently raised $119m in Series D funding at a $1bn post-money valuation.
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