Second Closet raises $20M in funding; shifts focus to e-commerce logistics/fulfillment

Following a $20M round of financing announced today, Toronto-based Second Closet is preparing for its evolution from a startup that disrupted the self-storage market to a technology enabled logistics partner for the e-commerce market. Based on the significant growth experienced by the company over the past year providing last mile logistics for items that are heavy and hard to deliver by mail, Second Closet is now executing on its vision to provide a customer-centric approach to e-commerce fulfillment – including storage, pick and pack, shipping, and last mile delivery – for businesses ranging from small e-commerce merchants to large national retailers.

Second Closet has been building out its e-commerce fulfilment and last mile logistics offering for almost two years. Over the past year however, the company has played a strategic role helping brick-and-mortar retailers experiencing significant disruption amid the pandemic transition their businesses to a direct-to-consumer (D2C) e-commerce model – ensuring they can continue to operate and provide a safe, contactless approach to getting their products to customers. With the funding in place, Second Closet is now very well positioned for significant operational and team expansion as it prepares to officially launch a robust B2B offering that uses technology to address many of the pain points of traditional e-commerce logistics.