ATLANTA, Jan. 14, 2021 /PRNewswire/ -- MyPorter, a provider of B2C storage solutions, announces the formalization of a new division – MyPorter Commercial – dedicated to providing flexible logistics & warehousing solutions for Enterprise and B2B customers.
Since its Atlanta launch in February 2018, MyPorter has expanded their fleet to 13 trucks and have amassed 265,000 sq. feet of warehouse space, offering thousands of direct-to-consumer storage units, and supported by an organization of 20+ full-time employees. MyPorter also partners with independent contractors to facilitate pickups and deliveries. It is currently in the market for warehouse space in both Atlanta and Tampa Bay (its next expansion city).
MyPorter Commercial formally launched (in stealth mode) in July 2020 following VC investment from Florida Funders and has experienced meteoric growth, eclipsing the direct-to-consumer business in less than six months. Q4'20 revenue came in at 40% over Q3, driven largely by huge strides in the commercial business.
"Almost immediately after launching MyPorter with outside funding in 2018, we garnered significant interest from the business community despite marketing and selling exclusively via direct-to-consumer channels. Any time you experience organic growth without direct outreach, that is a strong signal there is an untapped market waiting to be serviced. We created the business thesis, our great partners at Florida Funders backed that thesis, and we used that capital to make key hires that have completely transformed our business," says Chief Revenue Officer and Co-Founder of MyPorter, John Foshee.
MyPorter's Commercial Logistics fills a hole in the traditional lease / sublease market, a market not served well by existing 3PL's. Whereas lease and sub-leases are often inflexible and require businesses to adapt their model to a landlord, MyPorter Commercial offers turn-key logistics solutions with flexible terms and contracts not typically seen in the industry. It uses technology to streamline their client's logistics operations in what is still seen as a low-tech industry.
"The most exciting feature of MyPorter Commercial is the limitless growth potential and myriad use cases. Self storage is a $40 BN market in the United States but third party logistics is almost 6x that size," said Robert Crump, CEO and Co-Founder of MyPorter. "Our clients consist of distributors, retailers, manufacturers, commercial offices, startups, and much, much more. The common theme is the desire for flexibility and willingness to pay a premium for that flexibility."
For now, the legacy MyPorter business and MyPorter Commercial will continue to operate as distinct divisions of MyPorter, Inc with dedicated staff assigned to each business unit.
For more information on MyPorter Commercial, please visit www.myportercommercial.com. Keep up with the latest news from MyPorter Commercial on Facebook, Twitter and LinkedIn.
About MyPorter Inc.
MyPorter is an Atlanta-based startup reinventing the way consumers and businesses move and store their items. The full-service logistics company offers their service to the Enterprise in the form of flexible warehousing and logistics and Direct to Consumer in the form of full-service storage.
SOURCE MyPorter, Inc.