Denver Funding News

Closetbox raises $5M to take on the storage industry

Closetbox, a unique Denver-based storage startup, just raised $5 million.1 The company has a new approach to the storage industry. Rather than the traditional per-unit storage approach, Closetbox employs a per-square-foot pricing model. This pricing model allows the startup to offer a much better price than the traditional per-unit storage providers.

Pricing Closetbox raises $5M to take on the storage industry

As an example of the savings, above is Closetbox’s pricing for the Austin, Texas area. Lets compare. The local Austin Public Storage charges $141 per month for a 5X10 unit; $181 per month for a 10X10 unit; $271 per month for a 5X15 unit; $556 per month for a 10X20 unit. As you can see, Closetbox offers significantly better pricing.

On top of the pricing benefits, Closetbox also offers some free conveniences that you wont find with the traditional storage providers. Rather than hauling all of your stuff to a storage unit, Closetbox has free pickup. All you have to do is pack things up in boxes:

Just pack and tape your boxes, we’ll take care of the rest. We shrink wrap most furniture items and we also provide any moving blankets, protective furniture bags and other equipment or materials necessary to move you into storage. All of this is included in your monthly storage rent…We will email you barcoded labels for each items. We suggest you print and affix barcode labels so that it is easy to order return delivery of any item. But we can also help you with the labeling as well.2

Officially, the company has few limits on what they can store. Things such as: items weighing more than 250 lbs, and, “explosive devices, jewelry, fine art, or any illegal substances or drugs recognized as illegal by the U.S. Government.”3 The startup requires a commitment of 2 months to qualify for free pickup.

If you have ever rented a storage unit, then it is quite clear that this is a much needed alternative. It is not hard to see how the company raised $5 m. Check out the video below for more info, or head over to Closetbox.me.

  1. Amy DiPierro, BusinessDen, “Storage delivery startup stuffs $5 million into coffers,” 18 April 2016  
  2. Closetbox, “FAQs”  
  3. Ibid