# SpareFoot

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/sparefoot

- Industry: Internet
- Headquarters: Austin, US
- Website: www.sparefoot.com
- Total disclosed funding: $14M
- Latest round: Series C (Feb 18, 2014)
- Investors on record: 5

## About

SpareFoot, Inc. is a dedicated online marketplace for self-storage, connecting consumers with a vast array of storage facilities across the United States, facilitating seamless storage solutions for diverse customer needs.SpareFoot, Inc. was founded in 2008 and is headquartered in Austin, US. The company specializes in self-storage solutions, allowing customers to easily find and reserve storage units. In March 2018, Cove Hill Partners acquired a majority stake in SpareFoot from Insight Partners, Monkfish Equity, and Revolution Ventures, with the terms undisclosed. The company has successfully completed six funding deals, with the most recent in March 2018, raising USD 33.00 mn led by Revolution Ventures, along with Insight Partners and Monkfish Equity. The founder, Mario Feghali, has a background in entrepreneurship, though further details about previous ventures are not available.SpareFoot operates as a comprehensive online marketplace for self-storage, providing users with access to over 20,000 storage facilities across the United States. The platform connects customers with various storage solutions, including standard self-storage units, climate-controlled units, and specialized options for vehicles, boats, and RVs. It caters to a diverse clientele, including individuals relocating, students needing temporary storage, and businesses looking for additional space. Customers can easily compare prices, read reviews, and reserve storage units online, streamlining the process of finding secure storage solutions in major urban markets such as New York, Los Angeles, Chicago, and Miami.SpareFoot generates revenue through direct transactions between consumers and storage facilities, operating on a commission model that involves booking fees for reservations. The company earns a percentage of the rental fees charged by storage providers for units booked through its platform. The pricing varies based on the type of storage selected, while SpareFoot's extensive partnerships with storage facilities allow it to provide a range of options to customers, enhancing competitive pricing.SpareFoot is focused on developing new services aimed at enhancing user experience and expanding its market reach. Recent funding, including USD 33.00 mn raised in March 2018, will support these initiatives by allowing for potential enhancements to their platform and services. The company has plans for geographic expansion to penetrate additional metropolitan areas and improve service offerings. Following a strategic pivot with the acquisition by Cove Hill Partners, SpareFoot is poised to leverage its resources to increase its footprint in the self-storage industry.

## Funding rounds

- Series C, Feb 18, 2014, $10M — Insight Partners, Floodgate, Silverton Partners, Capital Factory
- Series B, Mar 6, 2011, $1.5M — Floodgate, Silverton Partners, Capital Factory
- Series B, Jun 21, 2010, $2M — Floodgate, Silverton Partners, Capital Factory
- Series A, Sep 14, 2009, $0.3M — Silverton Partners, Capital Factory, RSH Ventures

## Investors

- Silverton Partners (https://capitalatlas.ai/funds/silverton-partners) — Series A, Series B, Series C
- Capital Factory (https://capitalatlas.ai/funds/capital-factory) — Series A, Series B, Series C
- RSH Ventures — Series A
- Floodgate (https://capitalatlas.ai/funds/floodgate) — Series B, Series C
- Insight Partners (https://capitalatlas.ai/funds/insight-partners) — Series C