Information management services provider Iron Mountain has agreed to invest in US-based on-demand self-storage service provider MakeSpace as part of a $30m financing round.
Founded in 2013, MakeSpace runs an artificial intelligence-powered self-storage service that lets consumers arrange for the storage of their goods through an online platform that provides access to temporary storage options and removal van hire.
The companies have formed a strategic partnership that will involve MakeSpace acquiring IronMountain’s consumer storage subsidiary, Stashable, allowing it to expand into 20 additional locations in the US and Canada.
MakeSpace had raised approximately $58m in earlier rounds, including $30m in an April 2017 series C round led by venture capital firm 8VC and backed by Upfront Ventures, Harmony Partners and Summit Action.
OATV, media company O’Reilly Media’s corporate venturing unit, invested in the company as part of an $8m series A round in 2014 that was led by Upfront Ventures and backed by existing investors Lowercase Capital, High Peaks Venture Partners, Founders Fund and Collaborative Fund
Upfront Ventures and Harmony Ventures subsequently co-led MakeSpace’s $17.5m series B round two years later, participating alongside unnamed existing investors.