Merchant Innovation

Online Furniture Marketplace Move Loot Hits More Cities

Move Loot, a vertically integrated online furniture marketplace that specializes in pre-owned goods and last-mile delivery, announced that the company has received $9 million in funding as it seeks to expand its network to new cities, as well as building out its warehousing and logistical infrastructure, according to a company blog post. The new fundraising round was spearheaded by Metamorphic Ventures with participation from First Round Capital, Index Ventures, Great Oaks, IDG, Sherpa Ventures, Google Ventures and Y Combinator, with Metamorphic’s general partner David Hirsch joining Move Loot’s board of directors.

Move Loot was founded two years ago as a buyer and seller of old furniture with the goal of reducing the amount that gets put in landfills because of shipping hassles. In 2014, over 650 tons of furniture were saved from being thrown into a landfill, according to the company’s website, which reflects four straight quarters of growing conservation. Move Loot seeks to address that market gap by establishing a fully-integrated marketplace that provides consumers with a way to buy, sell, list, store, and ship furniture around parts of California and North Carolina as part of the “last mile” of delivery. What is unique about Move Loot’s employees though is that rather than use 1099 employees as movers, it puts movers on salary as a way to ensure the quality of the service at the “touch point” for consumers.

“We want to have best-in-class movers and best-in-class delivery people,” CEO Bill Bobbitt said about the configuration.

Aside from logistical support and seeking new markets for the company, the company stated that it will continue to upgrade the user experience through customized furniture styles around themes and designs, and improving the submission process online and on mobile for furniture sellers to maximize convenience.

Brands that the company has helped sell so far include Macy’s, Pottery Barn, and Crate & Barrel.

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