Allegion Ventures, the corporate venture fund of Allegion plc, has expanded its strategic portfolio with an investment in Stuf, a tech-enabled, next-generation self-storage startup. Allegion Ventures co-led Series A funding for Stuf, alongside Altos Ventures.
Stuf
Founded in 2020, Stuf modernizes self-storage and monetizes under-utilized real estate. The innovative startup partners with property owners to turn basements, garages, and other spaces in commercial buildings into storage, creating new cash flow opportunities for landlords and bringing valued amenities close to businesses and close to where people live and work.
Utilizing Stuf’s digital-first platform, users can book, pay for, and access storage easily via their mobile devices. The company employs IoT to remotely manage its national portfolio, leveraging access control and security solutions to ensure its users have secure and seamless access to their storage units.
Self-storage experience
Stuf is transforming the consumer self-storage experience, ultimately driving new value in an antiquated industry
Allegion Ventures Managing Director - Bobby Prostko shared that, because Stuf operates with technology at the core of its business, the startup is transforming the consumer self-storage experience, ultimately driving new value in an antiquated industry.
“Stuf CEO Katharine Lau is a visionary in the post-pandemic real estate world,” Bobby Prostko said.
Modernizing self-storage
He adds, “She’s created a successful company with a very talented team that leverages a mobile-first mindset and software to modernize self-storage.”
Bobby Prostko continues, “By focusing on the needs of today’s consumer like having storage options that are near home and work, as well as easy to use with seamless access, Stuf is driving unparalleled experiences for its customers and reinvigorating its industry. We’re excited to help fuel its growth with this investment and to see what the future has in store for Stuf.”
Series A funding
Lau said having the support of Allegion Ventures is meaningful as Stuf moves into its next phase
Series A funding for Stuf will be used to help the startup expand its footprint in new and existing markets across the U.S., as well as heighten brand awareness and re-invest in technology.
Lau said having the support of a strategic investor like Allegion Ventures is meaningful as Stuf moves into its next phase of growth.
Innovation and change
“Pioneering change in real estate is never easy, but the evolving needs of consumers and commercial landlords are driving an appetite for innovation and change on both sides.”
“I am fortunate to have the support of like-minded partners, such as Allegion Ventures, to expand Stuf’s vision across the US,” Lau said. Terms of the Allegion Ventures deal have not been disclosed.
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