Startups

Storage Startup, Trove, Raises $8M

Moving and storing items like furniture and wall decor can be a somewhat painful process.

In the $30 billion furniture storage industry, Uber’s former head of product Michael Pao has co-founded a new company with former Facebook engineer Jon Perlow, dubbed Trove. Rather than start the standard storage space, this new company aims to bring in a more consumer-friendly environment. Through its new venture, Trove provides scheduled pickups and deliveries through its app, which allows people to virtually never make a trip out to their storage unit.

To help in its efforts, Trove just announced it raised $8 million in venture financing led by Greylock Partners. The VC company’s Simon Rothman shared confidence in the decision to back this new business.

“Pao and Perlow are the kind of entrepreneurs you back anything they do. Personal storage is a big and broken space that takes strong marketplace, logistics and tech skills to unlock,” Rothman said.

Click to comment

TRENDING RIGHT NOW