Cubby, a property management platform specializing in self-storage operations, announced it has secured $63 million in Series A funding. The investment was led by Growth Equity at Goldman Sachs Alternatives, with participation from existing investors, to enhance the platform’s AI and software capabilities for the self-storage industry.
This capital infusion is intended to advance Cubby’s mission of enabling storage operators to manage their businesses more profitably, efficiently, and rapidly. Proceeds will be allocated to talent acquisition, development of its software and AI product suite, and significant investment in product development and customer success initiatives. These efforts aim to support the company’s growth and deliver ongoing value to its clientele.
Kelly Wallace, Investor at Growth Equity at Goldman Sachs Alternatives, will join Cubby’s Board of Directors. Wallace stated that Cubby is transforming self-storage operations by replacing legacy systems with a modern, scalable platform. She noted that the company’s customer-centric approach and AI-enabled workflows allow operators to manage portfolios seamlessly and make data-driven decisions, positioning Cubby as an emerging leader in the self-storage market.
This investment highlights a broader industry trend toward technology modernization to meet contemporary renter expectations in a competitive marketplace. Cubby has positioned itself as a leader in this transition, fostering growth across various storage operating models as the industry moves from older systems to more flexible and secure technological foundations.
Matt Engfer, CEO and co-Founder of Cubby, commented on the company’s founding principle: to help self-storage operators, many of whom are entrepreneurs, build strong businesses by focusing on revenue generation and renter satisfaction. He emphasized that the new investment will accelerate the delivery of talent, products, and services that self-storage operators require.
Adam Mikkelson of Liberty Investment Properties stated that the self-storage industry has sought a platform like Cubby, highlighting its ability to provide a stable foundation for innovation. Mikkelson noted that Cubby’s software and AI capabilities are delivering measurable yield and business impact, transforming the industry into an example of technological advancement.
Cubby’s platform serves over 400 operators managing more than 450,000 units across North America. Its core offerings include Facility Management, E-Commerce for online checkouts, ML-powered Revenue Management for optimal rate recommendations, Calls for intelligent routing and AI-powered grading, and Voice AI. The Voice AI agent, available for an additional fee, handles customer inquiries, processes rentals, adjusts pricing, and manages move-ins, aiming to improve team efficiency and free operators to focus on strategic growth.
Growth Equity at Goldman Sachs Alternatives, a part of Goldman Sachs Asset Management, has invested over $13 billion in growth-stage and technology-driven companies since 2003. The team focuses on various industries, including enterprise technology, financial technology, consumer, and healthcare.
