We keep hearing about online data storage on private, public, or hybrid clouds. But what about the physical things in our lives that we need to store? Trove is tackling this by providing a full storage service that handles everything from locating an affordable space to connecting customers with moving companies. The San Francisco-based startup launched out of beta today and announced an $8 million round led by Greylock Partners.
“Three-quarters of customers start online with a search to find their unit,” wrote Trove cofounder and CEO Michael Pao, in an email to VentureBeat. “However, after they book a storage unit, the customers have a lot more work to do. They have to rent a truck, buy boxes, pack boxes, and ask their friends to help them move the stuff into the unit.”
Trove provides assistance with all of it. Customers request an all-inclusive quote by signing up on the Trove website, which connects them with professional moving companies that pack and store the items in secure warehouses. The movers also photograph the items and create a digital catalog of the stored items, which is available on the Trove website. “When you are ready to retrieve an item out of storage, simply request the item through the site to set up delivery,” wrote Pao.
Payments are made on a monthly basis and start at $2.50 per square foot, which is significantly less than the average cost of about $2,300 for an intrastate move. “You only pay for the space you use,” wrote the chief executive. With 11 million U.S. households using self-storage, the market is clearly there. Competitors include Public Storage, Extra Space Storage, and CubeSmart.
Pao joined Greylock Partners as an entrepreneur in residence (EIR) in 2016 and founded Trove six months later. Trove raised a total of $8 million led by Greylock, with participation from private investors. The startup will use the new capital to expand its service in the Bay Area.
Trove currently has a dozen employees.