SpareFoot is an Austin-based company that provides listings for

self-storage Self storage (a shorthand for "self-service storage," and also known as "device storage") is an industry that rents storage space (such as rooms, lockers, containers, and/or outdoor space), also known as "storage units," to tenants, usually o ...

units. The company was originally a person-to-person model, similar to

Airbnb Airbnb, Inc. ( ), based in San Francisco, California, operates an online marketplace focused on short-term homestays and experiences. The company acts as a broker and charges a commission from each booking. The company was founded in 2008 b ...

, that later developed into a marketplace for self-storage. The company now facilitates self-storage rentals between consumers and storage operators. The company was profiled as one of ''America's Most Promising Startups'' by

Bloomberg Businessweek ''Bloomberg Businessweek'', previously known as ''BusinessWeek'', is an American weekly business magazine published fifty times a year. Since 2009, the magazine is owned by New York City-based Bloomberg L.P. The magazine debuted in New York City ...

in 2011. SpareFoot lists storage business around a particular area to show available units and prices. Customers are able to view available units, real-time price quotes, view photos and make reservations. The company currently works with more than 10,000 storage facilities across the nation. In 2016, SpareFoot added valet-storage operators to its searchable database. This on-demand option, called Full-Service Storage, takes care of pick up, storage and return delivery on demand. As of 2017, SpareFoot's Full-Service Storage is available in almost 50 markets across the U.S. The company has also expanded its offerings by partnering with providers of other moving and storage services. Current moving-related offerings include moving supplies, moving truck rental, and full-service storage with moving labor.

History

SpareFoot was founded in 2008 by Chuck Gordon and Mario Feghali while both were attending

UCLA The University of California, Los Angeles (UCLA) is a public land-grant research university in Los Angeles, California. UCLA's academic roots were established in 1881 as a teachers college then known as the southern branch of the California ...

. The concept was developed a year prior when Gordon was attending UCLA and left to spend a semester in Singapore. Gordon used space in Feghali's residence as well as space in girlfriend's garage. While away, Gordon came up with the concept which he pursued with Feghali. SpareFoot was originally formed as a person-to-person website with the concept of facilitating the rental of extra storage space in private residences to those looking for storage. Original funding came from family members and friends. The site failed to gain traction with a person-to-person model. The founders noticed that there were more storage companies signing up to sell space as opposed to homeowners. The site was re-branded (along with a name change from Homstie to SpareFoot) and began allowing customers to find, compare and review potential storage providers. Additional funding for SpareFoot came in 2009 when the company was accepted into an incubator program at Capital Factory in

Austin, Texas Austin is the capital city of the U.S. state of Texas, as well as the seat and largest city of Travis County, with portions extending into Hays and Williamson counties. Incorporated on December 27, 1839, it is the 11th-most-populous city ...

. They were awarded $20,000 seed capital as well as mentoring from the program. During a second round of funding in 2010, the company received $2 Million in investment from

Silverton Partners Silverton Partners is an early-stage venture capital firm headquartered in Austin, Texas. Founded in 2006, Silverton Partners focuses on the Seed and Series A rounds of a startup's lifecycle across a variety of industries including enterprise Sa ...

and

Floodgate Fund Floodgate Fund is a venture capital firm based in the United States created by Mike Maples Jr. and Ann Miura-Ko. It was originally named ''Maples Investments,'' but was renamed ''Floodgate Fund'' in March 2010. It is focused on investments in tech ...

. The following year they raised $1.5 million in capital, bringing their second round total to $3.5 million. In 2014, SpareFoot raised $10 million in a Series C round of venture funding from

Insight Venture Partners Insight Partners (previously Insight Venture Partners) is an American venture capital and private equity firm based in New York City. The firm invests in growth-stage technology, software and Internet businesses. History Insight Partners was fo ...

. On March 11, 2015, the company announced a Series D round of $33 million from

as well as Monkfish Equity and Revolution LLC. In 2011, Chuck Gordon and Mario Feghali were named to the list of ''30 Under 30'' by Forbes.

Company culture and philanthropy

In 2013, SpareFoot was the winner of the Austin Startup Games, a competition that paired 15 startup companies against each other in games like ping pong, flip cup, and shuffleboard. SpareFoot received $30,000 for winning which they donated to the charity Kure It Cancer Research. The company ran a campaign in 2012 where they donated $3 in school supplies for users of their Facebook and Twitter pages who posted items they have kept since they were in grade school. SpareFoot also gave $100 vouchers for self-storage space to

Washington D.C. ) , image_skyline = , image_caption = Clockwise from top left: the Washington Monument and Lincoln Memorial on the National Mall, United States Capitol, Logan Circle, Jefferson Memorial, White House, Adams Morgan, Na ...

residents affected by Hurricane Sandy in 2012. SpareFoot was listed as one of 7 Awesome Dog-Friendly Companies for National Dog Week by Career Bliss in 2012 for allowing dogs at their headquarters in Austin.

References

{{reflist, 2 Internet properties established in 2008 Companies based in Austin, Texas Online marketplaces of the United States 2008 establishments in Texas