Wednesday, March 11, 2015

SpareFoot Scores $33M

Austin-based self storage marketplace SpareFoot is going to have to rent itself a much bigger storage locker for its cash. SpareFoot said this morning that it has raised $33M in a new investment round, led by Revolution Growth. According to SpareFoot, the new funding round also included Insight Venture Partners and Monkfish Equity. Revolution Growth's Scott Hilleboe, and Rony Kahan--the founder of job search engine Indeed--will both join the company's board as part of the funding. SpareFoot said the new funding will go towards accelerating national expansion, and to invest in new products. SpareFoot is led by Chuck Gordon, and already had been on a massive hiring spree in Austin before the funding. More information »