SpareBox Technologies Launches to Bring Effective Tech Innovation to Self-Storage

Revolutionary technology platform that successfully serves more than 100 self-storage facilities now available to property owners and operators nationwide

DENVER, Jan. 11, 2024 /PRNewswire/ -- SpareBox Technologies launched today to offer a suite of tech-forward solutions to self-storage facility operators and property managers nationwide. These solutions were first developed and utilized internally at SpareBox Storage, the leading remote-managed operator in the self-storage industry. Leveraging them enabled the enterprise to amass 108 locations, representing 7.4 million square feet in nine states across 21 fast-growing markets. SpareBox Technologies is a wholly owned subsidiary of Rizk Ventures Self Storage.

Initial product offerings will include:

• SeRUM: A one-of-a-kind comprehensive remote management solution that puts control in the hands of the operator
• Prophet: An AI-driven revenue-management system based on current competitor rates and tenant behavior analysis
• BigFoot: A SpareFoot optimizer for operators marketing units on the aggregator
• RaFA: An intuitive field operations app made for in-person and remote managers alike

"Historically, self-storage has lagged behind other industries in technology development. But the days of stagnation are over," said Jackson Stevens, CEO of SpareBox Technologies. "It's an honor to spearhead the future of self-storage and know that we are bringing profitability and efficiency to property owners and operators across America."

Unlike other market offerings – which provide either incomplete solutions or charge exorbitant fees – SpareBox Technologies' suite of products is affordable and comprehensive, integrating seamlessly alongside a property's existing project management software. It equips facility operators to remotely manage customer interactions, optimize their marketing investments, and maximize revenue through analytics-driven rate adjustments. Properties that have implemented SpareBox Technologies enjoyed revenue growth of at least 15% for two consecutive years and a nearly 20% reduction in expenses. Implementation also reduced the time-on-site for property managers to only a few hours per week.

In December 2023, SpareBox Storage commissioned a survey of 150 owners, operators and managers of self-storage facilities in the United States, revealing:

• Nearly half of self-storage owners, operators and managers (46%) say "investing in new technologies" is one of their top priorities for 2024.
• Self-storage owners, operators and managers overwhelmingly agree that new technologies in the storage business will make their job easier and their business more competitive: 92% agree with both benefits, including half who strongly agree.
• More than half (53%) of self-storage owners, operators and managers believe they could improve their operational efficiency.

"I've seen firsthand just how transformative this technology has been for our 108 facilities across the United States," said Kate Matheny, CEO of SpareBox Storage. "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."

For more information about SpareBox Technologies, visit www.spareboxtech.com.

About SpareBox Technologies
SpareBox Technologies puts comprehensive remote management in the hands of storage facility operators. Unlike anything else on the market, our technologies are affordable to implement, integrate seamlessly with your existing property management system, and have driven proven ROI at more than 100 storage locations across the country. Led by a mix of technologists and storage industry veterans, SpareBox Technologies is the leader in remote management. Learn more at spareboxtech.com.

About Rizk Ventures
Rizk Ventures was founded by Thomas A. Rizk in 2013, as a special situations operating business utilizing technology to launch businesses focused on solving everyday problems. Since inception, Rizk Ventures has a proven track record of identifying and solving inefficiencies across multiple sectors. Rizk Ventures' goal is to take advantage of its strengths by arming founders with the tools needed for unprecedented competitive advantage within their industry.

Across its portfolio companies, Rizk Ventures owns more than 26 million square feet of real estate across 314 properties in the suburban office, light industrial, healthcare and self-storage sectors. In its LaunchTech vertical, Rizk Ventures has established platforms with artificial intelligence technology to address inefficiencies and problems in the real estate, healthcare, supply chain and transportation sectors.

SOURCE SpareBox Technologies