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Valet Self-Storage Operator Closetbox Raises $5M in Funding

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Closetbox Inc., a startup business specializing in valet self-storage services, has raised more than $5 million from 16 investors in exchange for company equity, according to a filing with the Securities and Exchange Commission. The April 12 filing by company CEO Marcus Mollman doesn’t identify the investors.

The infusion of capital comes after Closetbox expanded to 24 markets at the end of 2015. The company scaled quickly from its initial service market in Denver after raising $2 million from 21 investors in 2014. It now serves 37 metropolitan markets nationwide, according to the company website.

Closetbox service differs from that of some valet-storage operators by allowing customers to reserve a set amount of storage space in addition to storing items by the box. Customer belongings are stored in climate-controlled warehouses.

Headquartered in Greenwood Village, Colo., Closetbox uses an online platform that allows customers to schedule free item pickup, print barcodes to affix to boxes and oversized belongings, and keep track of items using a private dashboard. It operates in 22 states and Washington, D.C.

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