Self-Storage Technology Firm Tenant Inc. Raises $25M in Seed Funding

Tenant Inc., a provider of property-management software and other technology for self-storage and other types of real estate, has closed its third seeding round by raising $25 million in investment. The company will use the funds to advance product development, expand its customer support and sales team, and increase platform integration, according to a press release.

Company officials credited the oversubscribed round to “demonstrated product market fit” and investor value. Investor confidence was also bolstered by Tenant’s recent acquisition of Storelocal, a private membership program of independent self-storage operators, the release stated.

“We now have over 100 strategic investors in the United States and internationally, most of which are self-storage facility owners who are actively utilizing our products,” said CEO Lance Watkins. “Our investors initially saw the need for a product that would streamline storage facility operations and provide a better tenant experience. Now, those same investors are not only using our products, they are continuing to invest in both our future and theirs.”

Headquartered in Newport Beach, California, Tenant offers customizable solutions for self-storage operators, including property-management software, website technology, digital-marketing services and more.

Source: Investors Observer, Tenant, Inc. Secures Over $25 Million in Seed Series 2 Preferred Funding Round