SpareFoot, an Austin-based company that provides listings for self-storage units, has banked $10 million in venture capital funding round led by Insight Venture Partners.
Austin-based SpareFoot has raised $26 million since its founding in 2008. New York-based Insight Venture Partners provided $22 million of those funds. Its other major investors include Capital Factory, Floodgate and Silverton Partners.
“SpareFoot will use this latest investment to double down on engineering and product development,” Chuck Gordon, co-founder and CEO, said in a news release. “We believe there is a big opportunity to expand our offerings in the market, and that’s what we’re going to do. Our goal is to make renting a storage unit easier than booking a hotel room, and this new investment will help us make that happen.”
SpareFoot has 120 employees at its downtown headquarters and plans to add more than 40 this year in the customer service, engineering and product development areas, according to the news release.
Tags: Venture Capital, Venture Capital Firm, Venture Capital Group, Venture Capital Industry, Venture Capital Investment, Venture Capital Investor, Venture Capital Fund, VC Funding, VC, SpareFoot, Austin, Insight Venture Partners, New York, Capital Factory, Floodgate, Silverton Partners, Chuck Gordon.