"In 2023, Matt Engfer was at back-to-back lien auctions in Texas. At auctions like this, bidders buy abandoned units with no idea what's inside, gambling on mysteries. So, the opening of a unit can get dramatic. The lock comes off, the door curls up, and everyone inhales. And on this particular Texas day, that first unit was an out-of-left field treasure trove, filled with artwork worth tens of thousands of dollars. The second unit was even more memorable."
"That's why Engfer and Adam Fleming in 2022 founded self-storage software company Cubby. The company now counts more than 400 operators with north of 2,000 facilities among its customers, a group that includes Atomic Storage Group and American Self-Storage. It's also reached a key financial milestone: Cubby just raised a $63 million Series A, led by Growth Equity at Goldman Sachs Alternatives, Fortune has exclusively learned. The company's existing investors include Third Prime and Bienville."
Wild and unpredictable discoveries occur at self-storage lien auctions, where bidders buy abandoned units sight unseen; examples include a trove of artwork worth tens of thousands and a storage unit used as a mouse-breeding apparatus for snake owners. Self-storage functions as an invisible but ubiquitous industry handling overflow belongings. Legacy software in the industry persists into 2026 and is widely considered outdated. Cubby, founded in 2022 by Matt Engfer and Adam Fleming, serves more than 400 operators and over 2,000 facilities, including Atomic Storage Group and American Self-Storage, and raised a $63 million Series A led by Growth Equity at Goldman Sachs Alternatives.
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