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Valet Self-Storage Operator MakeSpace Raises Another $30M in Investment

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MakeSpace Labs Inc., a business specializing in valet-style self-storage services in Chicago, Los Angeles, New York City and Washington, D.C., has raised another $30 million in venture-capital investment to help improve service in its markets. The company’s latest round included 8VC, Harmony Partners, Summit Action and Upfront Ventures, according to the source.

Upfront Ventures has participated in multiple rounds of MakeSpace investment, including a $17.5 million round last year and an $8 million round in 2014. To date, the valet-storage provider has raised more than $57.5 million, including funds from actor Ashton Kutcher, NBA star Carmelo Anthony and rapper Nas.

“The growth has been impressive,” Mark Suster, managing partner at Upfront Ventures, told the source. “I love backing startups in large markets where there’s been no innovation.”

In conjunction with capital from 8VC, partner Kimmy Scotti will join the MakeSpace board of directors, the source reported. “Gone are the usual limits of square footage, vehicle accessibility, and moving muscle strength,” Scotti said. “MakeSpace covers it all so customers don’t have to think through these details.”

While MakeSpace intends to use the funding to support its valet service within its current markets, CEO Sam Rosen indicated the company could eventually diversify into related services such as moving and selling furniture, according to the source.

Based in New York, MakeSpace offers door-to-door service for customers’ stored goods and creates a visual catalog of each box stored in its warehouse. Customers have access to the catalog through a cloud-based platform and mobile app, which allows them to keep track of their items and request them when desired.

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