Australia-Based Peer-to-Peer Self-Storage Operator Spacer Buys Out Roost

Spacer.com.au Pty. Ltd., an Australia-based peer-to-peer self-storage marketplace, has acquired U.S.-based Roost Shared Storage Inc. and will rebrand the business as Spacer.com. The deal includes Roost’s customers, database and technology platform, according to the source. The move enables Spacer to replicate its services in the United States.

“We’ve always had global aspirations, and we’re ready to move into the world’s largest self-storage market,” Spacer CEO Mike Rosenbaum told the source. “The other exciting part of the deal is Roost has built up fantastic partnerships in the U.S. including Zip Car and Maven Drive, which is owned by General Motors, to provide peer-to-peer car spaces for them. We’re growing 30 percent month on month, and our investors couldn’t be happier.”

Roost launched its peer-to-peer service in San Francisco in 2014. It received $1.2 million in funding at a $6 million valuation last year. It’s staff of 10 will be retained by Spacer, which effectively will double its number of employees, according to the source.

Last April, Spacer partnered with Paris-based peer-to-peer storage business Costockage to jointly expand service to Asia.

When Spacer moves into a new market, it’s goal is to grab up to 10 percent of the local self-storage market, Rosenbaum told the source.

Spacer enables people in need of storage to find available space in their local area from businesses and homeowners. All rental payments are made through Spacer, which collects a 15 percent commission. The company raised $1.2 million from angel and private investors in October 2015.