MakeSpace, a New York-based consumer storage provider company, announced it has raised $30 million in a new round of funding. Document storage company Iron Mountain is leading the strategic round in the company. Previous investors 8VC and UpFront Ventures is also participating in this round.
Including this round, MakeSpace has raised $103 million in funding. Some of MakeSpace’s previous investors include Carmelo Anthony (NBA player) and Nas (rapper).
As supported by Iron Mountain’s existing infrastructure, MakeSpace is going to expand to 20 new cities including Austin, Boston, Dallas, Houston, Miami, Philadelphia, San Antonio, San Diego, San Francisco, Seattle, and Toronto. Over the last three years, MakeSpace’s revenues increased 117% per year.
“Iron Mountain provides a massive global storage footprint, along with decades of operational experience. When combined with our industry-leading proprietary technology, customer service and scalable go-to-market strategy, we have the opportunity to be operationally superior to competitors and exceed consumer demand for hassle-free storage,” said MakeSpace CEO Rahul Gandhi in a statement.
Iron Mountain’s relationship goes beyond investment. Founded by Gandhi, Adam LeVasseur, and Samuel Ian Rosen in 2013, MakeSpace is taking over the operations of Iron Mountain’s Stashable — which is the company’s full-service storage business previously known as Box Butler. And MakeSpace is going to become a customer of Iron Mountain by occupying an initial total of 2.1 million cubic feet of Iron Mountain’s available consumer storage space.
MakeSpace customers can use the company’s app to schedule the pickup and delivery of items to be stored. And they can also access a photographic inventory of stored items. The price is based on cubic foot per month and there is a three-month minimum.
The deal between MakeSpace and Iron Mountain comes on the heels of Clutter receiving a $200 million round of funding led by SoftBank Vision Fund. Clutter is planning to use this funding round to aggressively expand to the top 50 markets in the U.S. while also doubling down in the eight cities in which it already has a presence.
“We’re excited to join forces with MakeSpace on a consumer storage offering that will help change the market landscape,” added Iron Mountain’s EVP and general manager of Records & Information Management – North America, Deirdre Evens. “Iron Mountain’s storage business has been built on securing and protecting valuable records and assets, a value proposition that can be extended into other categories and markets, from artwork, film and music assets to areas like consumers’ valued personal items. The combination of MakeSpace’s consumer storage brand and front-end customer platform with our operational scale, expertise managing the world’s most valuable assets, and brand promise of trust and security will allow us to deliver even more value for across our storage network.”
