Company relocation startup Shyft raises $15M
Shyft is saying it has raised $15 million in Sequence A funding to make the transferring course of much less painful — particularly within the conditions the place your employer is paying for the transfer.
Different startups want to supply concierge-type companies for normal transferring — I used a service called Moved final yr and appreciated it. However Shyft co-founder and CEO Alex Alpert (who’s spent years in the moving business) instructed me there are not any direct rivals centered on company relocation.
“Even at the highest levels, the process is totally jacked up,” Alpert mentioned. “We saw an opportunity to partner with corporations and relocation management companies to build a customized, tech-driven experience with more choices, more flexibility and to be able to navigate the quoting process seamlessly.”
So when an organization that makes use of Shyft decides to relocate you — whether or not you’re a brand new rent or simply transferring to a brand new workplace — you need to get an electronic mail prompting you to obtain the Shyft app, the place you may chat with a “move coach” who guides you thru the method.
You’ll additionally have the ability to catalog the objects you need to transfer over a video name and get estimates from movers. And also you’ll obtain moving-related provides from firms like Airbnb, Wag, Frequent, Sonder and Dwelling Chef.
And as Alpert famous, Shyft additionally companions with extra conventional relocation firms like Graebel, quite than treating them as rivals.
The corporate was initially referred to as Crater and centered on constructing expertise for creating correct transferring estimates through video. It changed its name and its business model again in 2018 (Alpert acknowledged, “It wasn’t a very talked-about pitch at first: ‘Hey, we’re constructing estimation software program for transferring firms.’ “), however the expertise stays an important differentiator.
“Our technology is within 95% accurate at identifying volume and weight of the move,” he mentioned. “When moving companies know the information is reliable, they can bid very aggressively.”
Because of this, Alpert mentioned the employer advantages not simply from having happier workers, however decrease transferring prices.
The brand new funding, in the meantime, was led by Inovia Capital, with participation from Blumberg Capital and FJ Labs.
“There’s a total misalignment between transactional relocation services and the many logistical, social, and lifestyle needs that come with moving to a new city,” Inovia accomplice Todd Simpson mentioned in an announcement. “As businesses shift towards more distributed workforces and talent becomes accustomed to personalized experiences, the demand for a curated moving offering will continue to grow.”