SAN FRANCISCO--(BUSINESS WIRE)--
Norwest Venture Partners (Norwest), a premier multi-stage investment firm, today announced that it has made a strategic investment in Junk King, the nation’s top-rated junk removal and hauling company. Junk King, headquartered in South San Francisco, is led by founder and CEO Michael Andreacchi. Financial terms of the transaction were not disclosed.
Andreacchi founded Junk King in 2005 and has consistently provided an environmentally-conscious, customer-focused service to residences and businesses. Since 2009, Andreacchi and team have franchised the offering across more than 100 cities in 35 U.S. states and three Canadian provinces. The company has welcomed five new franchisees to the Junk King family thus far in 2019.
“When starting Junk King, I did not appreciate just how instrumental the franchisees would be in creating the foundations of our brand,” said Andreacchi. “I am proud to say that we have a system comprised of many diverse backgrounds and career paths that have worked together to become America's leading junk removal business. We are going to continue to climb mountains as a team, and with the addition of Norwest, we feel like there is no mountain too big.”
Norwest’s Sonya Brown and Stew Campbell will join Junk King’s board of directors.
“Junk King’s mission of delivering an environmentally-conscious service resonated with us,” said Sonya Brown, general partner at Norwest. “Diverting waste via recycling efforts is enormously important. We look forward to supporting Mike and team with new programs to drive even more innovation in the industry.”
“Mike and his team have built a leading brand and consumer experience. The technology, customer service, and processes are all dedicated to deliver a top notch, on-demand experience to residences and businesses alike,” said Stew Campbell, principal at Norwest. “We are thrilled to work to support Mike and his network of terrific franchisees.”
About Norwest Venture Partners
Norwest is a premier multi-stage investment firm managing more than $7.5 billion in capital. Since inception, Norwest has funded 600+ companies and currently partners with more than 140 active companies across its venture and growth equity portfolio. The firm invests in early to late stage businesses across a wide range of sectors with a focus on consumer, enterprise, and healthcare. The Norwest team offers a deep network of connections, operating experience, and a wide range of impactful services to help CEOs and founders scale their businesses. The firm has offices in Palo Alto and San Francisco, with subsidiaries in India and Israel. For more information, please visit www.nvp.com. Follow Norwest on Twitter @NorwestVP.
About Junk King
Junk King is the second largest and No. 1 ranked junk removal business in North America. Founded by two friends in 2005, Junk King today operates 105 locations in 35 states and three Canadian provinces. The Company's on-demand business model services residential and commercial customers with a focus on customer satisfaction and a mission to recycle each job for a better planet. www.junk-king.com, 1-888-888-JUNK.