What is Pallet?
Pallet distinguishes itself as a leader in the rapid response shelter village sector, tackling the pervasive issue of homelessness with a scalable and swift approach. The company's innovative model provides individuals with private, secure units within a communal setting, fostering a sense of belonging and safety. Beyond shelter, Pallet integrates a comprehensive resource network, offering essential services such as on-site social support, food, sanitation facilities, and laundry, all aimed at facilitating a successful transition to stable, long-term housing solutions.
How much funding has Pallet raised?
Pallet has raised a total of $16.3M across 2 funding rounds:
Angel/Seed
$1.3M
Series A
$15M
Angel/Seed (2020): $1.3M, investors not publicly disclosed
Series A (2022): $15M led by Citigroup and DBL Partners
Key Investors in Pallet
Citigroup
Citigroup Inc. is a global financial services powerhouse, offering a comprehensive suite of banking and financial products. Its involvement suggests a strategic financial backing for Pallet's large-scale operations and potential for significant growth.
DBL Partners
DBL Partners is an impact investing firm focused on generating both financial returns and positive social and environmental impact. Their investment in Pallet aligns with their strategy of supporting companies in Clean Tech, Information Technology, Sustainability, and Healthcare, particularly those with a community development focus.
What's next for Pallet?
The recent major strategic investment signals a strong validation of Pallet's mission and operational model. This influx of capital is expected to fuel the expansion of its shelter village initiatives and enhance its service offerings, enabling the company to address the homeless crisis at an even greater scale. Strategic partnerships and further capital injections will likely be key to solidifying Pallet's position as a primary solution provider in the social impact and housing sectors, driving innovation in how communities support vulnerable populations.
See full Pallet company page
