Allegion, Altos Ventures Co-Lead $11M Funding Round for Self-Storage Startup Stuf

Allegion Ventures, the corporate venture fund of Allegion, and Altos Ventures co-led an $11 million Series A funding round for New York-based self-storage startup Stuf.

Existing investors, Wilshire Lane Capital, Harlem Capital, ANIM Fund, Palm Tree Crew and Good Friends also participated in the equity round.

Founded in 2020 and led by CEO Katharine Lau, Stuf monetizes underutilized real estate by partnering with property owners to turn basements, garages and other spaces in commercial buildings into storage units, creating cash flow for landlords and bringing amenities close to businesses and where people live and work.

Allegion Ventures Managing Director Bobby Prostko said, “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.”

The company plans to use the fresh capital to invest in brand awareness and grow its team across all functions, including real estate, engineering, marketing and operations.

Lau added that people who store their belongings at a Stuf storage facility visit their space three times more often than the industry average “because we make storage easy with our wonderful customer experience, location accessibility and tech enablement.”