# Neighbor Storage

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/neighbor-storage

- Industry: Internet
- Headquarters: Lehi, US
- Website: www.neighbor.com
- Total disclosed funding: $65M
- Latest round: Series B (Mar 24, 2021)
- Investors on record: 4

## About

Neighbor Storage, Inc. is a US-based storage and parking marketplace that connects hosts with available space to individuals and businesses seeking storage solutions, enhancing accessibility and affordability in the storage sector.Founded in 2017, Neighbor Storage, Inc. operates as a storage marketplace, enabling users to find and book diverse storage solutions across the United States. The company is headquartered in Lehi, US. Its founders include Colton Gardner, Evan Wiskup, Jonathan Norestin, Preston Alder, and Ryan Sisson. The latest funding round, a Series B, raised USD 54.00 mn on March 24, 2021, led by Fifth Wall Ventures with participation from Andreessen Horowitz and Album VC, bringing the total amount raised to USD 54.00 mn and the current company valuation to USD 225.08 mn.Neighbor operates as a storage and parking marketplace that connects hosts with available space to individuals and businesses in need of storage solutions. The platform offers self-storage units, garages, RV storage, boat storage, car storage, truck parking, monthly parking, and long-term parking options. Users can conveniently search for and book rental spaces in their local areas, catering to homeowners, RV enthusiasts, boat owners, and small businesses, while ensuring affordability and accessibility across all 50 states.Neighbor generates revenue through a transaction-based model where hosts earn income by renting out their spaces to renters. Each booking typically involves a monthly fee paid by the renter directly to the host via the Neighbor platform. The company offers various pricing tiers based on selected storage or parking solutions, reflecting competitive market rates, and has additional revenue streams from partnerships with businesses needing storage solutions.In March 2021, Neighbor Storage, Inc. raised USD 54.00 mn in Series B funding, led by Fifth Wall Ventures. The company plans to utilize this funding to expand its nationwide network of hosts and renters and to make strategic hires. There are plans to enhance its product offerings and further penetrate new geographic regions, although specific markets targeted for expansion have not been disclosed.

## Funding rounds

- Series B, Mar 24, 2021, $54M — Andreessen Horowitz, Album VC, Fifth Wall Ventures
- Series A, Dec 13, 2019, $9M — Pelion Venture Partners, Andreessen Horowitz
- Seed, Apr 6, 2018, $0.8M — Pelion Venture Partners, Album VC
- Seed, Jul 14, 2017, $1.6M — Pelion Venture Partners, Album VC

## Investors

- Pelion Venture Partners (https://capitalatlas.ai/funds/pelion-venture-partners) — Seed, Series A
- Album VC (https://capitalatlas.ai/funds/album-vc) — Seed, Series B
- Andreessen Horowitz (https://capitalatlas.ai/funds/andreessen-horowitz) — Series A, Series B
- Fifth Wall Ventures (https://capitalatlas.ai/funds/fifth-wall-ventures) — Series B