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US: Luggage storage network and travel company, Bounce, has announced the closing of a $19 million Series B funding round.
The round was led by venture firm Sapphire Sport and included other new investors such as Thayer Ventures, FJ Labs, 20VC Growth, and Shilling, as well as existing investors Andreessen Horowitz and General Catalyst.
Bounce said that it would use the fundraise to drive growth by expanding its storage services to travellers and locals around the world.
Launched in 2019, Bounce powers a storage network of more than 13,000 partners in 100 countries. The company is seeking to transform the way people travel and live in over 4,000 cities worldwide, such as Barcelona, Edinburgh, London, Paris, and New York City.
Named the eighth fastest-growing private company in the United States by Inc5000 earlier this year, Bounce has stored more than six million bags to date, and claims to have generated “tens of millions of dollars” for small businesses since finalising its $12 million Series A round in 2022.
David Hartwig, partner, and Rico Mallozzi, principal at Sapphire Sport, said: “Bounce is helping travellers and locals alike to not plan their days around their belongings, enabling them to fully embrace the experiences that bring them joy. We’ve been impressed by their ability to scale their storage network with speed and efficiency, and believe they’ve only begun to tap into the potential of serving diverse storage needs.
“We’re excited to see how this new capital will fuel Bounce’s growth into new markets and power storage operations at hotels and venues.
“While Bounce already boasts a robust network of over 13,000 storage partners and millions of users, we believe their roadmap and vision position them to eventually serve all aspects of a consumer’s storage and packaging needs,” they added.
Cody Candee, founder and CEO of Bounce, said: “We’re thrilled to partner with the Sapphire Sport team as part of our Series B round. With their vast experience in collaborating with startups at our stage, the team’s detailed knowledge of rapid expansion, and their group of partners across global sport, entertainment, and culture, we’re excited to work together to redefine convenience and bring more opportunities to travellers and businesses everywhere.”
Since its Series A round two years ago, the business has grown its revenue 20 times by strategically placing locations in key areas of a city, such as Penn Station in New York City, Roma Termini in Rome, and Gare du Nord in Paris.
Utilising its fresh investment, Bounce will expand into a number of new verticals in 2025, with a mission to make travel simpler for tourists and locals alike. New verticals planned include bag delivery and shipping, as well as a product dedicated to hotels – Bounce for Hotels.
Bounce is also in the process of rolling out a referral partner / affiliate programme for short-term rental and other property management companies. As referral partners, short-term rental companies will be able to earn commission on every bag their guests store via the Bounce platform.
Details of the referral partner / affiliate programme can be found here. Each referral partner receives a link with their own referral code to use in their marketing materials, while affiliate partners are able to access information on their earnings via the partner dashboard.
Anyone interested in learning more about the programme is invited to email affiliates@usebounce.com.
