Peer-To-Peer Self-Storage Company Neighbor Raises $2.5 Million Seed Funding Round

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Founded in 2017, Neighbor is a peer-to-peer self-storage company based in Salt Lake City, Utah. The company connects people who have unused space in their homes, garages or apartments to renters who are looking for affordable storage. Neighbor recently announced $2.5 Million Seed funding round.

Below is our recent interview with Joseph Woodbury, CEO at Neighbor:

Slava Koltovich

Q: Could you provide our readers with a brief introduction to Neighbor?

A: Neighbor benefits renters by providing safer, more accessible storage for half the price of a traditional self-storage unit, while giving hosts the opportunity to earn thousands of dollars per year from their empty space. Neighbor’s team helps keep the connection safe, easy and friendly, so that good neighbors everywhere can help each other out.

Q: How exactly does the process of storing work?

A: A host simply and easily lists their extra space through our online platform. The website will walk the host through the steps of adding photos, setting price and describing the space. The listing is then published on a map where renters can find the space and rent it out to store their items. Neighbor ensures that payments go through each month and that it is a safe and easy transaction for all involved.

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Q: How would you convince the reader to start using Neighbor?

A: Earning money through Neighbor is as passive as passive income gets. By listing your unused space, you earn extra income each month to help pay down a mortgage or save for a vacation.

For renters, the wins are even bigger. Neighbor storage is much safer than traditional self-storage, closer to your home, more accessible and less than 50% of the price.

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Q: What are your plans for the future?

A: Neighbor has plans to become an international company disrupting the $38 billion storage industry. We strongly believe that, rather than building additional space, we should use the space we already have. Neighbor brings communities together by connecting friendly neighbors to help each other out.