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SpareFoot picks up $1.5 million for storage

Not that kind of online storage search service--SpareFoot helps you find local storage facilities

Financial trends and news by Ronny Kerr
March 7, 2011
Short URL: http://vator.tv/n/17d6

SpareFoot, an online service that helps consumers compare storage facilities in their area, raised $1.5 million in a third round of funding, led by Silverton Partners and Floodgate with participation from Austin technology incubator Capital Factory. RSH Ventures is a previous investor in the company.
 
Added to a $2 million Series B in June 2010 and a $850,000 Series in September 2009, the third round brings SpareFoot’s total funding to $4.35 million.

Like an Expedia or Hipmunk for storage facilities instead of flights, SpareFoot aggregates all the options for storage in your area, based on a city, state or zip code search. You can look either for all-purpose self storage units or vehicle storage (car, RV and boat). The site also lets you specify exactly the size of space you’re looking for and searches can be sorted by price, distance or recommended, which means Sparefoot will try to figure out the best offerings. There are also options to limit by distance (5 miles, 15 miles or 30 miles) and by amenities (climate control, drive up access and 24 hour access).


Results are displayed in an easy-to-read format, with special deals highlighted in the right column.

Since renters pay nothing to use the site, SpareFoot generates most of its money from storage companies, which pay $75 for every confirmed rental. SpareFoot eliminates the need for contracts, setup fees and monthly fees so that clients will be more likely to try the service. Clients can track the performance of their listings to learn what works and what doesn’t and SpareFoot also provides a booking widget that clients can place on their websites.

Founded in August 2008, SpareFoot has grown to a team of 16, though more hires in development and sales are forthcoming.

The Austin-based startup will be participating in the SXSW Startup Crawl this Thursday, if you’d like to meet the founders, Chuck Gordon and Mario Feghali.