Self-Storage Operator SpareBox Launches Technology Company, Offers Suite of Management Solutions

January 12, 2024

2 Min Read

A new suite of self-storage management products has been released by SpareBox Technologies, an affiliate of self-storage operator SpareBox Storage. The offerings are designed to help facility operators remotely manage customer interactions, optimize their marketing investments and maximize revenue through analytics-driven rate adjustments, according to a press release. They were initially developed and used as part of the SpareBox remote-management model and are now available to the whole industry.

The product suite is designed to integrate with a facility’s existing self-storage management software. It includes:

  • SeRUM: A remote-management solution

  • Prophet: A revenue-management system incorporating artificial intelligence, competitor rates and tenant-behavior analysis

  • BigFoot: An optimization tool for marketing units via the SpareFoot aggregator website

  • RaFA: An “intuitive” field-operations app designed for in-person and remote managers

“Historically, self-storage has lagged behind other industries in technology development, but the days of stagnation are over,” said Jackson Stevens, CEO of SpareBox Technologies. “It’s an honor to spearhead the future of self-storage and know that we are bringing profitability and efficiency to property owners and operators across America.”

SpareBox Storage used the solutions in-house to achieve double-digit revenue growth and expense reduction, as well as reduce the amount of time managers spend on site, the release stated.

“I’ve seen firsthand just how transformative this technology has been for our 108 facilities across the United States,” said Kate Matheny, CEO of SpareBox Storage. “Once other facility managers and operators begin to use SpareBox Technologies, there will be no going back to the old ways of self-storage management.”

Founded in August 2020, SpareBox Storage is a joint venture between investment funds advised and sponsored by Davidson Kempner Capital Management LP and Rizk Ventures. Its portfolio of more than 100 facilities is in Arkansas, Florida, Georgia, Michigan, New Hampshire, Ohio, Oklahoma, South Carolina and Texas.

SpareBox Technologies is a wholly owned subsidiary of Rizk Ventures, which was founded by Thomas Rizk in 2013. The company owns more than 26 million square feet of real estate across 314 properties across the healthcare, light-industrial, self-storage and suburban-office sectors. Its LaunchTech vertical has established platforms with artificial intelligence to address operational challenges in real estate, healthcare, supply chain and transportation, according to the release.

Source: PR Newswire, SpareBox Technologies Launches to Bring Effective Tech Innovation to Self-Storage

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