SpareFoot, an Austin, Texas-based marketplace for finding and booking self-storage, closed a $33m funding round.
The round was led by new investor Revolution Growth with participation from existing investor Insight Venture Partners and new investor Monkfish Equity. In conjunction with the financing, Scott Hilleboe, partner at Revolution Growth, and entrepreneur Rony Kahan, co-founder and chairman of job search engine Indeed, will join SpareFoot’s Board of Directors.
The company, which has raised a total of $59m in venture capital to date, intends to use the funds for product development and engineering and expand operations.
Founded in 2008 by Chuck Gordon and Mario Feghali, SpareFoot operates a free marketplace that lets customers find and reserve storage units online. It has a large inventory of storage units in the U.S., with a network of more than 9,400 facilities, ranging from independent operators to publicly traded REITs.
The company partners with brands like AAA, ForRent.com, Penske Truck Rental and SelfStorage.com.
Since launching in 2008, SpareFoot Capital Factory, FLOODGATE and Silverton Partners also are investors in the company. SpareFoot employs about 200 people at its headquarters in downtown Austin. By the end of 2015, the company aims to employ close to 280 people with most of the new hires in engineering, product development and customer service.