Luggage storage network Bounce announces $19M Series B investment

Funding will be leverages for deeper expansion in the UK

Bounce.com, the largest global luggage storage network and fastest-growing US travel company, has unveiled it has closed $19 million Series B funding round. 

The round was led by 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 will leverage this fundraising round to drive expand its storage services to travellers and locals everywhere, including in the UK where Bounce already has more than 670 partners, including more than 350 in London, more than 50 in Edinburgh, 25 in Manchester, and 10 in Cardiff.

Named the 8th fastest-growing private company in the US by Inc5000 earlier this year, Bounce has stored over six million bags to date, and has generated tens of millions of dollars for small business partners since its Series A in 2022. 

In the UK alone, this has equaled nearly three million pounds of additional revenue to local businesses since 2022.

“We’re thrilled to partner with the Sapphire Sport team as part of our Series B round,” said Cody Candee, founder and CEO of Bounce. 

“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 travelers and businesses everywhere.”

David Hartwig, partner and Rico Mallozzi, principal of Sapphire Sport, said: “Bounce is helping travelers 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 other venues. 

"While Bounce already boasts a robust network of over 13,000 storage partners and millions of users, their roadmap and vision position them to eventually serve all aspects of a consumer’s storage and packaging needs."

Since the announcement of Bounce’s Series A in 2022, the company has grown its revenue 20x.

The firm plans to use the investment to grow and expand into several new verticals planned in 2025 to make travel simpler for tourists and locals alike, such as bag delivery and shipping, and a product dedicated to hotels - Bounce for Hotels.