Red Rover® Moving And Storage Receives $15 Million In Funding From Oppenheimer & Co.

TAMPA, Fla., Dec. 9, 2021 /PRNewswire/ -- Red Rover® Moving and Storage, known to provide customers with a more affordable moving and storage option, announced today that the company has closed on a $15 million funding round from Oppenheimer & Co.'s asset management business, with the option for additional follow-on investments. This funding round will allow Red Rover to open a number of new markets, which includes leasing more warehouses, adding storage containers and trucks and hiring more employees to support its rapid growth.

"We're thrilled to receive our first round of institutional capital to support the company's growth strategy and expansion plans. Oppenheimer is more than just an investor, they have extensive rental and leasing investment banking experience and recognized the opportunity we've created within the moving and storage industry," says Peter Warhurst, founder and CEO of Red Rover. "Their investment will enable us to accelerate our growth plan across the United States and we can't wait to work with them for years to come."

To date, Red Rover has received $19.6 million from two previous funding rounds. This will be Red Rover's third round of funding but the first from Oppenheimer, an established financial services company that offers investment banking, financial advisory services, capital market services and wealth management related products and services worldwide.

"Oppenheimer is pleased to be partnering with Peter Warhurst and Red Rover's highly experienced management team of moving and storage industry veterans, who possess a demonstrated history of successfully founding and building exciting new growth companies and creating equity value," says Robert Lowenthal, President of Oppenheimer. 

Red Rover launched in February 2020 and currently has three facilities in the Tampa Bay area, two in Massachusetts, three in New York, two in North Carolina and one in Waco, Texas that provides Long Distance Moving services to most of Texas.

Red Rover created a new category in the moving and storage industry known as Fetchable Storage® by offering customers a portable storage unit, pre-loaded onto a truck, that the customer picks up and drives for free. Its patent-pending proprietary ramp design provides the ability for rear or side-loading, which is especially valuable in city settings where space is tight. The ramp is operated by a remote control, so customers don't have to struggle with lifting and setting up a heavy ramp – it's literally a push of a button.

About Red Rover
A new solution backed by over 200 years of expertise, Red Rover® is focused on providing moving and storage solutions that are more affordable and convenient than traditional rental trucks or portable storage. With our Fetchable Storage containers, you can pick up and drop off your containers at your convenience, no waiting on drivers and no hidden fees. Headquartered in Tampa, Florida, Red Rover® was founded by Pete Warhurst, who founded PODS® and has considerable experience and expertise in moving and storage. For more information, please visit RedRovers.com.

Contact:
Vanessa Evans
941-780-2209
[email protected]

SOURCE Red Rover