Shyft, a Miami, FL-based fintech-powered marketplace reinventing the global moving industry, closed $16 million in Series B funding.
The round was from new investors, including Munich RE Ventures and OurCrowd, with participation from existing investors, Inovia Capital and Blumberg Capital.
Shyft also announced the appointment of Randal Meske as CEO. Meske is a seasoned go-to-market and growth executive with decades of experience at SaaS startups and industry titans such as IBM, Lotus, IHS Markit, and Oracle.
Shyft will use the new capital to expand its solutions and value to customers across top global markets and demographics for relocation and moving.
"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," said Randal Meske, CEO of Shyft. "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."
The round was led by Inovia Capital, with participation from Blumberg Capital and FJ Labs.
Company: Shyft Moving, Inc.
Raised: $16.0M
Round: Series B
Funding Month: September 2022
Lead Investors: Munich RE Ventures and OurCrowd
Additional Investors: Inovia Capital and Blumberg Capital
Company Website: https://www.shyftmoving.com/
Software Category: Digital Infrastructure and Supply Chain Solutions
About the Company: Founded in 2015, Shyft is a fintech-powered marketplace for the global moving industry. Shyft provides digital infrastructure and supply chain solutions to the entire moving industry. The platform connects customers to moving companies worldwide, providing transparent pricing and financial solutions for suppliers and movers. The company has facilitated more than 300,000 moves with 800+ moving companies and 220+ corporations. It will continue to build partnerships and agreements with relocation management companies (RMCs), real estate companies, and membership organizations. Shyft is headquartered in Miami, Florida.
Source: https://www.prnewswire.com/news-releases/moving-industry-innovator-shyft-appoints-randal-meske-ceo-closes-series-b-funding-301624666.html