Participated · Equity · Mar 2021

Second Closet is a tech-enabled logistics company that partners with businesses of all sizes—from small e-commerce merchants to large national retailers—offering customer-centric fulfillment services including storage, pick-and-pack, shipping, and last-mile delivery. Founded in 2017 by CEO Mark Ang, the company is based in Toronto and operates nine facilities across Toronto, Vancouver, Ottawa, and Montreal. Over the past year it has focused on expanding operations and building out a business-to-business (B2B) offering. The company raised CAD$20m in equity financing to accelerate its B2B market development, expand its product development team, add executive hires, and grow staff in other parts of the business. To date it has raised a total of $35.2m in funding. Second Closet plans to use the new capital to scale its team and product capabilities to better serve merchants and retailers. Second Closet is a Toronto-based self-storage company that facilitates pickup, storage and drop-off of customers' items from secure, temperature-controlled warehousing facilities. Customers pay only for the space they use, receive storage boxes when required, and benefit from item pickup and return within a pre-scheduled three-hour window. The service is used by thousands of consumers. The company operates in Toronto and Vancouver. Founded in 2017 by Mark Ang (CEO), David Ang (COO) and Heindrik Bernabe (CTO), Second Closet combines logistics and a technology platform to manage customer inventories. The company plans to expand reach, accelerate development of its technology platform, and further build out operations and customer experience.