# Vertoe

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/vertoe

- Industry: Internet
- Headquarters: New York, US
- Website: www.vertoe.com
- Total disclosed funding: $2M
- Latest round: Seed (Oct 18, 2018)
- Investors on record: 4

## About

Vertoe LLC is a luggage storage solutions provider that offers secure and convenient short-term storage options for travelers, event-goers, and urban professionals, enhancing mobility in major metropolitan areas.Founded in 2016 by Sid Khattri, Vertoe LLC is headquartered in New York, US, and provides on-demand luggage storage solutions through a network of verified locations. The company has engaged in four deals, with the most recent funding round being a VENTURE DEBT of USD 2.00 mn in November 2019, contributing to a total of USD 1.85 mn raised.Vertoe specializes in short-term luggage storage solutions designed to alleviate the burden of carrying bags before check-in or after check-out at hotels and Airbnbs. The company's core offering is a network of verified luggage storage locations where customers can securely drop off their bags at their convenience. These services cater primarily to travelers, professionals, and event-goers seeking a hassle-free experience while navigating urban environments. Vertoe has established its presence in major metropolitan areas including New York City, Washington DC, Los Angeles, Boston, Chicago, and San Francisco, effectively addressing the needs of both local residents and visitors. The company’s innovative approach allows end users to book storage locations online, ensuring a seamless experience that enhances their mobility throughout the day.Vertoe operates on a transaction-based revenue model, where customers pay a daily rate of USD 5.95 per day per bag for luggage storage services. Clients can access storage at various locations, engaging directly with individual consumers—travelers and professionals—through its online platform for straightforward transactions. Emphasizing security and convenience, Vertoe provides features such as tamper-proof security seals and USD 5000 insurance for stored items, adding value to their offerings and supporting consistent revenue generation during peak travel seasons or local events.Following its most recent funding in November 2019, where Vertoe LLC raised USD 2 million in venture debt financing, the company plans to enhance its service offerings and expand into new markets. Specific regions targeted for expansion include additional metropolitan areas in the US and possibly international locations by 2023, using the recent funding to support the development of new products designed to streamline storage solutions. This growth strategy is aimed at meeting increasing demand from a diverse customer base.

## Funding rounds

- Seed, Oct 18, 2018, $1.9M — ff Venture Capital, Techstars, Ingwe Capital
- Seed, Feb 2, 2018, $0.1M — Techstars, Right Side Capital Management

## Investors

- Techstars (https://capitalatlas.ai/funds/techstars) — Seed
- Right Side Capital Management (https://capitalatlas.ai/funds/right-side-capital-management) — Seed
- ff Venture Capital (https://capitalatlas.ai/funds/ff-venture-capital) — Seed
- Ingwe Capital — Seed