Cloud of Goods is a company that empowers travelers by offering seamless access to essential equipment rentals wherever they are. Pulse 2.0 interviewed Cloud of Goods CEO and founder Punsri Abeywickrema to learn more about the company.
Punsri Abeywickrema’s Background
What is Punsri Abeywickrema’s background? Abeywickrema said:
“I am the CEO and founder of Cloud of Goods, a company dedicated to revolutionizing the equipment rental industry through innovative technology and customer-centric solutions. With over 20 years in the tech industry, I bring extensive experience from some of Silicon Valley’s most influential companies, including LinkedIn, PayPal, Sephora, and Oracle, where I held senior roles that sharpened my expertise in product development, strategic growth, and consumer engagement.”
Formation Of Cloud of Goods
How did the idea for the company come together? Abeywickrema shared:
“The idea for Cloud of Goods came from a personal experience. I needed a wheelbarrow for a one-time project but didn’t want the hassle of buying or going through a traditional rental process, which usually involves deposits, paperwork, and pickups. I wanted the convenience of booking online and having someone deliver it and pick it up afterward. When I realized there wasn’t a service like this, I created one. I spoke with others with the same need and saw a demand for a platform that could rent out items as easily as Amazon, with delivery and pickup. Today, that’s what Cloud of Goods does, fulfilling thousands of orders every month to help people in similar situations.”
Favorite Memory
What has been your favorite memory working for the company so far? Abeywickrema reflected:
“One of my favorite memories was helping a 99-year-old grandma celebrate her 100th birthday. Her family traveled from across the country to San Francisco for the celebration, but she had limited mobility and poor eyesight. Her family used Cloud of Goods to arrange a mobility scooter and other equipment to make her more comfortable. They were able to take her to her favorite park and have a memorable celebration. Seeing how Cloud of Goods made this possible was incredibly rewarding.”
Core Products
What are the company’s core products and features? Abeywickrema explained:
“Cloud of Goods provides a comprehensive rental solution for a diverse range of equipment, catering to both travelers and locals with temporary or occasional needs. The company’s core offerings span several product categories, including:
Mobility Equipment – For those with limited mobility, Cloud of Goods offers essential items like scooters, wheelchairs, walkers, and crutches, making it easier for individuals to explore new locations or manage temporary mobility challenges.
Family and Childcare Essentials – Products such as strollers, car seats, and cribs ensure families traveling with young children have the necessary resources without the hassle of bringing bulky items along.
Outdoor and Sports Gear – Perfect for those who want to enjoy the outdoors, the platform offers rentals for bikes, surfboards, kayaks, camping gear, and more, catering to adventure seekers who need equipment for one-time or occasional use.
Party and Event Rentals – Cloud of Goods also supports events with rentals for party essentials like tents, tables, chairs, and even sound systems, allowing users to create memorable gatherings without having to own or store the items.
Key features of the Cloud of Goods platform include a user-friendly online marketplace where customers can browse and reserve items, a fully online reservation system, and a hassle-free delivery system powered by local individuals and rental businesses. This network ensures that customers have access to equipment where and when they need it, allowing them to focus on enjoying their experiences rather than managing logistics. The platform’s on-demand delivery and pick-up service add significant convenience, making Cloud of Goods a practical choice for tourists and locals alike who value flexibility and efficiency.”
Challenges Faced
What challenges have Abeywickrema and the team faced in building the company? Abeywickrema acknowledged:
“COVID-19 was a major challenge. Our business came to a halt, and we lost all revenue due to cancellations and credit card chargebacks. With lockdowns in place, we also couldn’t retrieve our equipment, losing over $1 million worth. With that we had to step back and rethink our model and plan a relaunch. I went back to consulting work to save up for a relaunch, as there is little to no support from others when you’re on the ground. During that time, I had to figure everything out on my own, which was challenging. It helped me build a dedicated team that has stayed with me throughout this journey, and this experience ultimately strengthened our resilience as a team. After relaunching, we’ve grown four times our pre-COVID size, serving thousands of customers and expanding to over 200 cities in the U.S., Mexico, Canada, and beyond.”
Evolution Of Cloud Of Goods’ Technology
How has the company’s technology evolved since launching? Abeywickrema noted:
“Our technology is constantly evolving to support rapid growth. We’re moving to a microservices architecture, adopting modern front-end and back-end technologies, and using cloud-based systems. Additionally, we’re building machine learning models for dynamic pricing and predictive analytics to improve our platform’s efficiency and user experience.”
Significant Milestones
What have been some of the company’s most significant milestones? Abeywickrema cited:
“Establishing a Nationwide Presence: Within a few years, Cloud of Goods expanded its services to over 200 cities across the United States, including major hubs like New York, San Francisco, Las Vegas, Los Angeles, and Orlando. This rapid growth established CoG as a reliable, coast-to-coast rental platform accessible to both tourists and locals in nearly any location.
Connecting Local Businesses to a Broader Market: By partnering with hundreds of local rental businesses, Cloud of Goods enables small businesses to reach thousands of customers, providing a new income stream and allowing them to leverage CoG’s platform and brand visibility. This network of partnerships is a cornerstone of CoG’s model, ensuring that users have reliable access to rental equipment from trusted local sources.
Pioneering the Sharing Economy in Equipment Rentals: Cloud of Goods has been consistently recognized as a leader in the sharing economy, particularly for creating a flexible, on-demand rental model for a variety of products. The platform’s user-focused approach and easy-to-use technology have set a new standard in connecting people to equipment rentals, empowering customers to access what they need without the burden of ownership.”
Customer Success Stories
When asking Abeywickrema about customer success stories, he highlighted:
“There are many. If you look at our Google reviews, you’ll find countless stories of how we help families enjoy their time together, regardless of physical limitations. For instance, we assist with mobility gear for grandparents, strollers for traveling parents, tools for DIY projects, and gear for camping. Our philosophy is that “life is limitless,” and we’re gratified to help people overcome limitations to make memories.”
Funding
When asking Abeywickrema about the company’s funding details, he revealed:
“Currently, we’re self-funded. Post-COVID, we decided not to seek external funding. Instead, I saved up through consulting work to relaunch the business, and we quickly became cash-flow positive. Now, we’re able to fund our growth with company revenue and personal resources, without the need for external capital.”
Total Addressable Market
What total addressable market (TAM) size is the company pursuing? Abeywickrema assessed:
“The rental industry is substantial, worth hundreds of billions globally. Within the U.S. alone, our targeted segments are part of a $100 billion market, and worldwide, it’s at least double that. We’re positioned in a massive industry with a lot of growth potential.”
Differentiation From The Competition
What differentiates the company from its competition? Abeywickrema affirmed:
“Cloud of Goods isn’t just a rental company; we’re an experience company. We provide access to equipment that helps people overcome physical limitations, and we focus on a seamless end-to-end experience—from booking to delivery, pickup, and follow-up. Unlike traditional rental platforms, we operate as a marketplace where local rental shops and individuals fulfill demand, while we handle the platform and logistics.”
Future Company Goals
What are some of the future company goals? Abeywickrema pointed out:
“We aim to expand globally. We’re already seeing interest from international customers, especially in major tourist destinations, and are frequently asked when we’ll launch in specific cities or countries. Currently, we operate in five countries in the Americas, but soon, we hope to expand to other continents.”
Additional Thoughts
Any other topics you would like to discuss? Abeywickrema concluded:
“Absolutely. As I mentioned, Cloud of Goods isn’t just a rental company—we’re a platform that connects people with the equipment they need and enables others to earn by renting out what they already own. More than that, we’re committed to making a positive impact on the planet. One of my core motivations in building this platform was addressing climate change by reducing overconsumption, which is a major contributor to environmental degradation. By promoting resource-sharing, we help reduce the need for everyone to own everything individually. This approach minimizes consumption, decreases waste, and lowers our collective carbon footprint. Through Cloud of Goods, we aim to foster a more sustainable, shareable world and contribute to a healthier environment for future generations. This commitment to sustainability is a cornerstone of our company, and it’s a message we’re passionate about sharing.”
