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Front Page - Friday, December 21, 2018

Bellhops gets $31M for further growth

Bellhops has raised more than $31 million in its Series C round of funding, which was led by Advance Venture Partners, with participation from Canaan, Initialized Capital, Lerer Hippeau Ventures and Nashville Capital Network.

This caps a year in which the Chattanooga-based company expanded into 10 new cities and increased its revenue by 150 percent.

Founded in 2011, Bellhops began as a solution for students moving into and out of their college dorms. After early success, however, the company expanded its offerings to include moves of all sizes and distances and focused on using technology to connect its workers with customers.

Bellhops is approaching its 200,000th move and can boast that more than 20 percent of its customers reuse its services for multiple needs within a given year.

In 2019, Bellhops will double the number of cities it services and increase its number of employees, expanding its headquarters in Chattanooga and opening a second office in Atlanta.

The company will also invest in developing new technology geared toward making move estimation more precise and less time-consuming.

Source: Bellhops