Storage marketplace Warehouse Exchange raises $2.2M

Storage marketplace Warehouse Exchange raises $2.2M]Warehouse Exchange, a startup that describes itself as the Airbnb of warehouse space, has raised $2.2 million in seed funding.
The company was founded Jonathan Rosenthal (CEO of Saybrook Management) and Dan Pimentel (previously CFO/COO of startup Hub TV). They recently brought on former eHarmony CEO Grant Langston as Warehouse Exchange’s chief executive.
Langston admitted that his new job might sound pretty different from running an online dating company, but he said that in both cases, it’s really about using technology to build a marketplace.
In the case of Warehouse Exchange, Langston said the opportunity lies in the fact that “businesses that wanted warehouse space were not welcome in warehouses.” Specifically, there are plenty of new e-commerce companies that want “smaller footprints for shorter periods of time and want to handle their own inventory,” but particularly pre-pandemic, most of the]third-party logistics companies (known as 3PLs) operating warehouses weren’t interested in that business.
So Warehouse Exchange has created a marketplace connecting renters with flexible warehouse space. Langston said businesses are renting space through the marketplace for an average of 11 months (though it usually starts with a shorter amount of time and then gets extended).

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