SpareFoot Lands $33 Million More in Venture Capital

SpareFoot, one of the most successful startups to spin out of the Capital Factory accelerator, has landed another $33 million to propel its growth in the marketplace for finding self-storage.

The Austin-based startup received its latest round of funding from new investor Revolution Growth which led the round with participation from existing investor Insight Venture Partners and new investor Monkfish Equity, according to a blog post on the company’s website.

As part of the funding deal, Scott Hilleboe, partner at Revolution Growth and entrepreneur Rony Kahan, co-founder and chairman of Indeed.com, the world’s largest online job posting site, will join SpareFoot’s board of directors.

SpareFoot plans to use the funds to expand nationally and to add more products. SpareFoot, founded in 2008, has raised $49 million in venture capital to date. Capital Factory, FLOODGATE and Silverton Partners also are investors.

“Using the SpareFoot platform, consumers in need of self-storage are able to quickly and easily find and book a facility that meets their needs based on price, location and other filterable options,” Steve Case, co-founder and partner at Revolution Growth, said in a news statement.

SpareFoot, with about 280 employees, is also hiring employees in engineering, product development and customer service.

“This investment will allow us to make it even easier for consumers to find the best self-storage facility in minutes and to help our thousands of independent self-storage operators compete online,” Chuck Gordon, the company’s co-founder and CEO said in a blog post.