TecTech firms combine under Storable brand name to serve self-storage industry
Over the course of last year, self-storage marketplace SpareFoot merged with industry software providers SiteLink and storEDGE. Now the combined companies have united under a newly formed brand identity called Storable.
Storable, which also includes recent acquisition Select Merchant Solutions, bills its self as a “technology-first” provider of a “suite of solutions designed to empower self-storage operators to enhance efficiency and optimize occupancy.”
Each Storable company will continue to operate as independent business units, providing between them the following services: software, website services, merchant services, aggregated search and training. The Storable family of companies will also continue to operate in their perspective locations: SpareFoot in Austin, TX; SiteLink in Raleigh, NC; and storEDGE in Kansas City, MO.
Chuck Gordon, Storable CEO and co-founder of SpareFoot, says tech companies have mostly ignored the self-storage space, leaving operators with the challenge of piece-mealing together a variety of tools to manage their business.
“With Storable, we’re giving business owners a suite of products designed to streamline their tools in order to maximize business growth and manage day-to-day tasks,” Gordon said in a press release announcing the new brand.
The beginnings of Storable
In 2008, Gordon and his college roommate Mario Feghali founded SpareFoot—originally as a peer-to-peer storage company akin to Airbnb. However, SpareFoot quickly discovered an untapped need existed to help traditional storage facilities to reach new tenants online. The company pivoted to become a searchable directory of self-storage facilities that users could use to reserve units online.
In March 2018, SpareFoot found a private equity partner, Boston-based Cove Hill Partners, to buy a majority stake in the company. Cove Hill simultaneously acquired a majority stake in leading self-storage management software provider SiteLink and put the companies together under a single holding company led by Gordon.
In August 2018, Cove Hill backed the acquisition of software and website developer storEDGE, bringing them under its growing family of self-storage tech companies. In April 2019, payment process provider Select Merchant Solutions was acquired and added to the group of companies.
For more information on all of the services provided by Storable, visit their newly launched website here.