Self-Storage Marketplace SpareFoot Named to A-List of Hottest Startups in Austin, TX

SpareFoot, an online marketplace for self-storage consumers with a headquarters in Austin, Texas, was recently named to the “A-List of Hottest Startups” sponsored by the Austin Chamber of Commerce and South By Southwest, an organization that produces a series of events focused on original music, independent film and emerging technologies. The 12 companies on the A-List were selected from a pool of more than 275 nominees by a panel of independent judges and announced during a May 14 ceremony at Austin City Limits Live at The Moody Theater, a state-of-the-art, live-music venue that hosts approximately 100 concerts a year.

SpareFoot, an online marketplace for self-storage consumers with a headquarters in Austin, Texas, was recently named to the “A-List of Hottest Startups” sponsored by the Austin Chamber of Commerce and South By Southwest, an organization that produces a series of events focused on original music, independent film and emerging technologies. The 12 companies on the A-List were selected from a pool of more than 275 nominees by a panel of independent judges and announced during a May 14 ceremony at Austin City Limits Live at The Moody Theater, a state-of-the-art, live-music venue that hosts approximately 100 concerts a year.

Each company on the list represents a key sector of innovation such as agriculture, big data, biotechnology, consumer-packaged goods, e-commerce, hardware, medical devices, mobile-app development, music technology and software. Recognition is intended to increase the visibility of Austin's top startups and drive increased venture-capital funding to Central Texas, according to a press release. Since the program’s inception, A-List honorees have received a combined $359 million in investment funding.

“Austin is rich with innovative startups that are primed for rapid growth. The A-List platform shines a spotlight and amplifies our diverse and rich talent, helping to maintain our lead as the most innovative, entrepreneurial region,” said Michele Skelding, senior vice president of global technology and innovation for the Austin Chamber of Commerce.

The program highlights the most promising startups in the Austin area in three investment categories: emerging, growth and scale. SpareFoot is one of three companies in the “Scale (Later Stage)” category for startups that have received more than $10 million in funding or generated more than $20 million in revenue. Since its founding in 2008, it has attracted $59 million in venture capital, according to “The SpareFoot Blog.” Most recently, it received $33 million in venture capital from new investors Monkfish Equity and Revolution Growth, as well as existing investor Insight Venture Partners.

SpareFoot will use the money primarily for product development and engineering, according to Chuck Gordon, company co-founder and CEO. Earlier this year, SpareFoot announced its intent to hire 100 employees in 2015.

Gordon credits the company’s success to its “awesome” team. “The reason SpareFoot garners the respect it does is because we’ve been able to build a very fast-growing company with a strong position in a big market,” he said.

SpareFoot.com helps consumers find and reserve self-storage units, with comparison shopping tools that show real-time availability and exclusive deals. With a network of more than 7,000 storage facilities ranging from mom-and-pop operations to real estate investment trusts, the company reaches prospective storage renters though partnerships with brands including SelfStorage.com and Penske Truck Rental.

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