A Greenwood Village-based storage startup is stocking up on another $5 million in funding.
Founded in 2014, Closetbox picks up costumers’ stuff, pops it into storage and retrieves it on-demand. According to an April 12 filing with the SEC, 16 investors have stowed $5 million in Closetbox in exchange for equity.
The company did not return messages seeking comment by press time.
Rather than charge customers to rent a full storage unit, Closetbox charges rent by the square foot. A 5 foot by 10 foot space costs $106 per month in Denver, according to an online quote. Competitors Greenbox Self Storage and Extra Space Storage charge $89 and $68, respectively for a similarly-sized unit per month.
Customers commit to stowing their stuff for at least two months, according to the company’s website.
Closetbox picks up storage items for free, and customers also can call to have Closetbox deliver items in storage back to them. That convenience costs between one and two months’ rent, depending on how long items have been in storage, according to the company’s website.
Deliveries usually happen within 48 hours of a request, except during peak moving months in the summer. Customers also can retrieve their items onsite for free.
Closetbox operates in 22 states as well as Washington, D.C., according to its website.
In the Denver area, Closetbox leases storage space at a 78,000-square-foot facility at 7009 S. Jordan Road in Centennial that’s owned by Johnson Storage & Moving, a Johnson employee confirmed.
According to SEC filings, the company has raised at least $7 million. Its last raise was in October.
A number of startups now offer pick-up and drop-off storage services, among them Los Angeles-based Clutter, New York City-based MakeSpace and Seattle-based Livable.