Cubby Raises $63M Series A to Modernize Self‑Storage Software
The Surprisingly Wild world of Self-Storage
Wild things happen in the self-storage business.
The Thrill of the Auction
in 2023, Matt Engfer attended back-to-back lien auctions in Texas. These auctions are a unique gamble: bidders purchase abandoned storage units without knowing their contents,hoping to uncover hidden treasures. The moment of opening a unit is filled with anticipation.
The lock is cut, the door rises, and a collective breath is held.On one particular day in Texas, the first unit revealed a remarkable find – artwork valued at tens of thousands of dollars. But the second unit proved even more memorable.
“They opened it up,” Engfer recalls,“and what did they find? A mouse-breeding apparatus to feed snakes with. You’re definitely not supposed to keep live animals in a storage unit. But this thing was filled with mice that were being sold to snake owners.”
An Invisible Industry
The self-storage industry is often overlooked, yet it’s incredibly widespread. It serves as a necessary outlet for the overflow of life’s possessions.with a growing global population, the demand for storage space continues to rise.
what’s Driving Growth in 2026?
As we move into 2026, several factors are contributing to the continued growth of the self-storage industry:
- Downsizing: More people are choosing to live in smaller homes, requiring off-site storage for belongings.
- Mobility: Frequent moves,whether for work or lifestyle,create a need for temporary storage solutions.
- Life Transitions: Events like divorce, death, or relocation often necessitate storage space.
- Remote Work: the rise of remote work has led to more people decluttering their homes and utilizing storage for office equipment or personal items.
Key Takeaways
- The self-storage industry is full of surprises, from valuable artwork to unexpected animal habitats.
- It’s a large and growing industry driven by societal trends like downsizing and increased mobility.
- Demand for self-storage is expected to remain strong as life becomes more dynamic and possessions accumulate.