SpareFoot Raises $1.5 Million to Expand Self-Storage Product Offering
Copyright 2014 by Virgo Publishing.
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Posted on: 03/07/2011



 

SpareFoot.com, an online marketplace for self-storage customers, closed a $1.5 million extension to its Series B round of funding, bringing the total round size to $3.5 million.  Silverton Partners and FLOODGATE led the round with participation from Capital Factory. SpareFoot will use the proceeds to diversify its product offering.

Founded in 2008, SpareFoot.com lists more than 5,000 self-storage facilities in its nationwide directory, which allows consumers to compare sites before renting. Through multiple websites including SpareFoot.com, SelfStorage.com, Apartments.com and many others, SpareFoot helps self-storage operators find new tenants through a pay-for-performance model.

Based in Austin, Texas, Silverton Partners is an early-stage venture-capital firm that collaborates with entrepreneurs in growth markets. Its principals have more than two decades of venture experience in IT infrastructure and management software, having been the startup investors in Tivoli Systems (acquired by IBM), Motive Communications (acquired by Alcatel-Lucent), Waveset (acquired by Sun Microsystems) and SailPoint (privately held).

FLOODGATE, based in Silicon Valley, Calif., is an early-stage “super angel” fund focused on business startups. The firm works with consumer-focused companies such as Twitter, Chegg, ngmoco, digg, Kongregate, IMVU and Smule, as well as business-focused companies such as SwiftTest, Solarwinds, Spiceworks, Demandforce and YuMe Networks.