A newly launched Greenwood Village-based startup aims to serve the self-storage industry, a sector that’s lagged in tech advancements.
SpareBox Technologies launched on Jan. 11, offering tech-enabled remote management solutions to self-storage facility managers, owners and operators.
“We’ve felt self-storage has been behind the times as it relates to technology adoption and innovation,” Jackson Stevens, CEO of SpareBox Technologies, told Colorado Inno via email. “Our team at SpareBox Technologies is excited to share the affordable solutions we’ve field-tested over many years of scaling our own storage portfolio.”
SpareBox Technologies’ suite of solutions was first developed and used by Greenwood Village-based SpareBox Storage, according to a news release. SpareBox Storage has 108 self-storage locations across nine states spanning 7.4 million square feet.
Initial products from SpareBox Technologies range from a comprehensive remote management system to an intuitive field operations app and consumer-facing price comparison tool. The startup is also rolling out an artificial intelligence-backed revenue management platform that analyzes tenant behavior and looks at competitor’s current rates. These solutions integrate with a property’s existing management software.
“I’ve seen firsthand just how transformative this technology has been for our 108 facilities across the United States,” SpareBox Storage CEO Kate Matheny said in a statement. “Once other facility managers and operators begin to use SpareBox Technologies, there will be no going back to the old ways of self-storage management.”
SpareBox Technologies said properties that used its tech have seen a 20% reduction in expenses and revenue grow by at least 15% for two consecutive years.
“We felt it was the perfect time [to launch] given the current appetite in the industry for investment in technology, especially as it relates to remote management,” Stevens said. “Given the nature of interest rates in 2023, many self-storage owners and operators pivoted to focus on increasing their operational efficiency through technology."
SpareBox Technologies is a subsidiary of Denver-based Rizk Ventures Self Storage, according to a new release. Rizk Ventures is the parent company of SpareBox Storage, which launched in August 2020. According to documents filed with the Colorado Secretary of State’s office, Rizk Ventures Self Storage was formed on Aug. 11, 2023, by SpareBox Storage transaction manager and paralegal Karen Gerken.
In addition to Stevens, Matheny and Chuck James, SpareBox Storage president and COO, are listed as part of SpareBox Technologies management team, according to its website.
