Wild issues occur in the self-storage enterprise.
In 2023, Matt Engfer was at back-to-back lien auctions in Texas. At auctions like this, bidders purchase deserted items with no thought what’s inside, playing on mysteries.
So, the opening of a unit can get dramatic. The lock comes off, the door curls up, and everybody inhales. And on this specific Texas day, that first unit was an out-of-left subject treasure trove, crammed with paintings value tens of hundreds of {dollars}. The second unit was much more memorable.
“They opened it up,” Engfer laughs. “And what did they find there? A mouse-breeding apparatus to feed snakes with. You’re definitely not supposed to keep live animals in a storage unit. But this thing was filled with mice that were being sold to snake owners.”
Is this the very best story I’m going to hear this week? Almost undoubtedly. But it’s additionally a view into how shocking the self-storage enterprise can actually get. Self-storage is a kind of basic invisible however ubiquitous industries—the overflow of life wants to go someplace, and there are lots of people in the world. And as a result of that is 2026, it tracks that it could have its personal legacy software, which Engfer believes could be improved upon.
That’s why Engfer and Adam Fleming in 2022 based self-storage software firm Cubby. The firm now counts greater than 400 operators with north of two,000 services amongst its prospects, a bunch that features Atomic Storage Group and American Self-Storage. It’s additionally reached a key monetary milestone: Cubby simply raised a $63 million Series A, led by Growth Equity at Goldman Sachs Alternatives, Fortune has completely realized. The firm’s current traders embrace Third Prime and Bienville.
Cubby, in some sense, is wanting to resolve the basic enterprise software drawback: That current legacy software is taken into account by many to be outdated. Even earlier than beginning Cubby, Engfer was met with skepticism.
“Industry folks were sober-minded, and not overly enthusiastic. It was clear it would be hard, but there was a lot of opportunity.”
Read the total story about Engfer’s journey—and the way he notched a significant fundraising milestone right here.
See you tomorrow,
Allie Garfinkle
X: @agarfinks
Email: alexandra.garfinkle@fortune.com
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VENTURE CAPITAL
– Zanskar, a Salt Lake City, Utah-based developer of AI know-how for geothermal exploration, raised $115 million in Series C funding. Spring Lane Capital led the spherical and was joined by Obvious Ventures, Union Square Ventures, Lowercarbon Capital, and others.
– Datarails, a New York City-based AI-powered finance working system, raised $70 million in Series C funding. One Peak led the spherical and was joined by Vertex Growth, Vintage Investment Partners, Zeev Ventures, and others.
– L-Nutra, a Los Angeles, Calif.-based diet know-how firm, raised $36.5 million in Series D funding from Mubadala.
– Infinitopes, an Oxford, U.Ok.-based most cancers vaccine biotech firm, raised $35.1 million in seed funding. Octopus Ventures and Amplify Bio led the spherical and had been joined by Macmillan Cancer Support and current traders.
– Fracttal, a Madrid, Spain-based developer of an AI platform designed for upkeep operations, raised $35 million in funding. Riverwood Capital led the spherical and was joined by current traders.
– Optalysys, a Leeds, U.Ok.-based photonic computing firm, raised £23 million ($30.9 million) in a Series A extension. Northern Gritstone led the spherical and was joined by imec.xpand and others.
– Furl, a Los Angeles, Calif.-based developer of AI brokers for safety remediation, raised $10 million in seed funding. Ten Eleven Ventures led the spherical and was joined by Corey Thomas and Open Opportunity Fund.
– Phoebe, a New York City-based platform designed to automate company operations in residence well being care operations, raised $9.5 million in seed funding. Quiet Capital led the spherical and was joined by Slow Ventures and others.
– ABZ Innovation, a Szentendre, Hungary-based developer of drones designed to help in agriculture, logistics, and different industrial operations, raised €7 million ($8.2 million) in funding. Vsquared Ventures led the spherical and was joined by Day One Capital and Assembly Ventures.
– AiStrike, a Pleasanton, Calif.-based developer of AI know-how designed for preemptive cyber protection, raised $7 million in seed funding. Blumberg Capital led the spherical and was joined by Runtime Ventures, Oregon Venture Fund, and others.
– PraxisPro, a Houston, Texas-based AI platform designed for gross sales reps in life sciences, raised $6 million in seed funding. AlleyCorp led the spherical and was joined by FlyBridge, South Loop Ventures, Zeal Capital Partners, and others.
– Yuki, a Tel Aviv, Israel-based knowledge value optimization firm, raised $6 million in seed funding. Hyperwise Ventures led the spherical and was joined by VelocitX, Tal Ventures, and others.
– Sparkli, a Zurich, Switzerland-based AI-powered studying platform designed for youngsters, raised $5 million in pre-seed funding. Founderful led the spherical and was joined by ARC Investors and Innosuisse.
– Claim Health, a New York City-based AI-powered income operations platform for post-acute care, raised $4.4 million in seed funding. Maverick Ventures led the spherical and was joined by Peak XV, Y Combinator, DHVP, and others.
PRIVATE EQUITY
– Allshares, a portfolio firm of Bregal Milestone, acquired Stock & Option Solutions, a Franklin, Tenn.-based compensation and plan administration firm. Financial phrases weren’t disclosed.
– Godspeed Capital acquired Engineering Resource Group, a Flowood, Miss.-based mechanical engineering design agency. Financial phrases weren’t disclosed.
– Main Post Partners acquired HomeWell Care Services, a Buckburnett, Texas-based franchise supplier of in-home take care of seniors and homebound people. Financial phrases weren’t disclosed.
– StayTerra, backed by Garnett Station Partners and Bessemer Ventures Partners, acquired a majority stake in Vacation Homes of Hilton Head, a Hilton Head Island, S.C.-based luxurious property administration firm. Financial phrases weren’t disclosed.
– TowerBrook acquired a majority stake in MSA Mizar, a Milan, Italy-based insurance coverage declare administration platform. Financial phrases weren’t disclosed.
– Water Street Healthcare Partners acquired a majority stake in GlobalMed Logistix, a Norcross, Ga.-based medical system logistics firm. Financial phrases weren’t disclosed.
PEOPLE
– a16z, a Menlo Park, Calif.-based enterprise capital agency, promoted Matt Bornstein to normal companion on the agency’s Infra Fund and promoted Alex Immerman to normal companion of the agency’s progress fund.
– Bessemer Venture Partners, a San Francisco-based enterprise capital agency, promoted Sofia Guerra to companion.
– Bullish, a New York City-based enterprise capital agency, employed Lindsay Kaplan as a enterprise companion. Kaplan beforehand served as an funding companion at Next Wave NYC and is co-founder of Chief.
– Emergence Capital, a San Francisco-based enterprise capital agency, promoted Lotti Siniscalco to normal companion.
– NightDragon, a San Francisco-based enterprise capital agency, promoted Hannah Huffman and Dorin Baniel to companion.
The offers part in the Jan. 21, 2026 version of Term Sheet misstated the traders in Ethos Technologies. Fortune regrets the error.
