Neighbor

Neighbor

Peer-to-peer storage marketplace monetizing unused space

About Neighbor

Simplify's Rating
Why Neighbor is rated
C+
Rated C on Competitive Edge
Rated B on Growth Potential
Rated C on Differentiation

Industries

Consumer Software

Real Estate

Company Size

201-500

Company Stage

Debt Financing

Total Funding

$67.3M

Headquarters

Lehi, Utah

Founded

2017

Overview

Neighbor is a peer-to-peer storage marketplace that connects people with unused space to those who need storage. Homeowners list spaces such as garages, basements, RV pads, and other empty areas, and renters browse, book, and store their belongings there. The platform handles payments and provides a secure, trusted environment, with Neighbor taking a percentage of rental fees as revenue. This approach offers a cost-effective, flexible alternative to traditional self-storage facilities, appealing to renters with lower prices and to hosts who can earn extra monthly income. The company's goal is to make storage more affordable and accessible by leveraging underused residential space while maintaining security and reliability.

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Simplify's Take

What believers are saying

  • Multifamily operators optimize parking via Neighbor, capturing billions from mispricings per 2024 report.
  • Evergreen Investments partnership scales peer-to-peer storage through institutional real estate networks.
  • U.S. self-storage supply shortages sustain high demand and pricing power for Neighbor's alternatives.

What critics are saying

  • Public Storage and CubeSmart launch peer-to-peer platforms, undercutting Neighbor in 12-24 months.
  • Zoning restrictions from Airbnb litigation eliminate host participation in 18-36 months.
  • Host churn from HOA rules and insurance spikes reduces inventory in 6-18 months.

What makes Neighbor unique

  • Neighbor connects homeowners' unused garages and basements to renters at 50% below traditional storage prices.
  • Platform offers $25,000 renter guarantee and $2M host protection for secure peer-to-peer transactions.
  • December 2024 Multifamily Parking Intelligence Report exposes billions in untapped parking revenue.

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Funding

Total Funding

$67.3M

Above

Industry Average

Funded Over

4 Rounds

Notable Investors:
Debt funding comparison data is currently unavailable. We're working to provide this information soon!
Debt Funding Comparison
Coming Soon

Benefits

Stock Options

Medical Insurance

Dental Insurance

Vision Insurance

Unlimited Paid Time Off

Paid Holidays

Hybrid Work Options

401(k) Retirement Plan

On-site gym/showers open 24/7

Growth & Insights and Company News

Headcount

6 month growth

0%

1 year growth

0%

2 year growth

-2%
PR Newswire
Dec 12th, 2024
Multifamily Investors Are Leaving Revenue On The Table: New Report From Neighbor Reveals Large Parking Mispricings

LEHI, Utah, Dec. 12, 2024 /PRNewswire/ -- Multifamily property owners and operators are missing out on billions in untapped revenue by failing to optimize parking prices, according to the Multifamily Parking Intelligence Report. This report contains the largest dataset of multifamily parking prices ever compiled

Really Rocket Science
Sep 27th, 2024
Really Rocket Science

Neighbor.com reveals 2024 ranking of the Most Neighborly Cities in America.

PR Newswire
Sep 29th, 2023
This Week In Policy Public Interest News: 12 Stories You Need To See

A roundup of the week's most newsworthy policy and public interest press releases from PR Newswire, including PSAs regarding school violence and mental health.NEW YORK, Sept. 29, 2023 /PRNewswire/ -- With thousands of press releases published each week, it can be difficult to keep up with everything on PR Newswire. To help journalists covering the policy and public interest industries stay on top of the week's most newsworthy and popular releases, here's a roundup of stories from the week that shouldn't be missed.The list below includes the headline (with a link to the full text) and an excerpt from each story. Click on the press release headlines to access accompanying multimedia assets that are available for download. PR Newswire Weekly Policy Public Interest Press Release Roundup, Sept. 25-29, 2023

Forbes
Sep 28th, 2023
Ranked: The Most Neighborly Cities In America, According To A New Report

What are the friendliest places in America? The self-storage company Neighbor.com has just released its fourth annual list of America’s 25 Most Neighborly Cities, in honor of National Neighbor Day. The 2023 study ranks U.S. cities based on factors like charitable donations, volunteering, crime rates and more.This year, Madison, Wisconsin has been named the most neighborly city in the U.S. This is not the first time that this friendly Midwestern city has topped the list: It was also in the number one spot in 2021, and last year it ranked second. “According to research, it ranks number three as one of the nation’s happiest cities and it leads the nation in non-profits per 100,000 residents,” Neighbor’s CEO and co-founder, Joseph Woodbury, told me in an interview.Adding to Madison’s allure: “It ranks high for outdoor recreational activities, breweries and farmers markets. Residents also turn up to the polls—in the last mayoral race nearly 60% of residents participated,” says Woodbury

CrazyGames
Feb 2nd, 2023
Junji Ito's horror comes to Fortnite, how to play on the thematic map of the Netflix series?

Neighbor introduced its Junji Ito-themed content with a creepy trailer.

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