SpareFoot operates a free online marketplace that connects consumers with independently owned and publicly traded self-storage providers, offering filterable search and online reservations. The company reports the largest U.S. inventory with a network of more than 9,400 facilities and reaches millions of consumers through partnerships with brands like AAA and Penske. SpareFoot has positioned its product as bringing Internet distribution and marketing tools to a fragmented, multibillion-dollar industry, likening its role to OpenTable for restaurants or Zillow for home buying. The company plans to accelerate national expansion and invest in new product offerings, with a stated emphasis on product development and engineering. At the time of the article SpareFoot employed about 200 people in Austin and aimed to grow to roughly 280 employees by the end of 2015. Financially, SpareFoot closed a $33 million investment and has raised $59 million in venture capital since its 2008 launch. SpareFoot operates a free online marketplace for self-storage, allowing customers to find and reserve storage units online. It maintains a network of more than 7,000 facilities ranging from mom-and-pop operators to publicly traded REITs and has partnerships with brands like SelfStorage.com, Apartments.com and Penske Truck Rental. Founded in 2008 and based in Austin, TX, the company employs nearly 120 people and plans to add nearly 40 more by the end of the year. SpareFoot intends to use the newly raised funds to hire customer service, engineering and product development staff. Other backers in the company include Capital Factory, FLOODGATE and Silverton Partners. SpareFoot operates an online comparison-shopping marketplace for self-storage, also running SelfStorage.com and Apartments.com. The company offers consumers listings for more than 5,000 self-storage facilities nationwide and says it runs the largest advertising network for self storage in the U.S. SpareFoot connects operators with new tenants via a pay-for-performance model. Founded in 2008, the company will use the new proceeds to diversify its product offering. The article reports a Series B extension that affects the company's current financing position. SpareFoot operates an online marketplace for self storage with over 100,000 listings nationwide, allowing consumers to compare options and helping storage operators find tenants. The platform lets users filter search results by location, unit size, cost and amenities. It also enables individuals to rent out personal spaces such as garages and parking spots. SpareFoot is headquartered in Austin, Texas. The company closed a $2M Series B financing and plans to use the funds to grow its team and expand into new marketing channels. No revenue or user figures beyond the listing count were disclosed in the article.

Total raised

$47M

Funding rounds

4

Latest round

Equity

Latest activity

Mar 2015