Warehouse Exchange (aka WEx), a Los Angeles, Calif.-based flexible, on-demand warehouse platform powered by artificial intelligence (AI), closed a $2.2m seed funding.
Backers included Xebec Realty and private investors from notable e-commerce, retail and distribution companies.
The company plans to use the funding to hire additional talent at its Los Angeles headquarters, build out its advanced AI algorithm and technology platform as well as invest in its marketing and sales processes.
Co-founded in 2017 by Jonathan Rosenthal, CEO of Saybrook Management, and Dan Pimentel, previously CFO/COO of startup Hub TV, and led by Grant Langston, CEO, Warehouse Exchange provides a digital marketplace that allows e-commerce companies and small businesses to find warehouse space. The company has had 22,000 buyers search for space on their site over the last 18 months, with buyers and sellers in California, and other states coming soon.
Warehouse Exchange has also added operator and investor Richard A. Moran as a strategic advisor. His experience includes serving as a Managing Partner at Accenture where he was a leader in the Change Management Practice. He served as the CEO of Accretive Solutions, as a Partner at the Venture Capital firm Venrock, and as President of Menlo College.
FinSMEs
29/05/2020