Student's Startup Secures Investment

Cory Bailey 12a

Melissa Jackson | April 30, 2018

When Cory Bailey left politics to pursue an MBA, his goal was to work for a tech company after graduation.

He never expected to start his own.

Bailey, a 2018 MBA candidate at the University of Notre Dame’s Mendoza College of Business, is co-founder of SecūrSpace, an online marketplace for parking and storage for the transportation industry — think Airbnb for trucks and shipping containers. 

Cory Bailey 12a
“And so these trucks are taking these containers way outside of L.A. and New York and other port cities because they’ve got nowhere to put them,” Bailey explains, noting that a 50-mile trip to a temporary storage site is not unheard of in the shipping world.Typically, explains Bailey, shippers have to call and email around, wait for replies, and if no space is available, keep looking — a time-consuming and inefficient process. During peak shipping season, he says, it can be almost impossible to find nearby storage and the ports charge high fees to hold containers.SecūrSpace is a web-based solution to a problem that Bailey’s college buddy and current SecūrSpace CEO Lance Theobald encountered on a daily basis in his former sales job in the freight transport world: How can transportation brokers quickly find convenient and secure temporary truck and container parking in port cities? 
 

‘Let’s do it’

Earlier this year the startup secured a $600,000 investment, half a million of which came from a Notre Dame alumnus, and is poised to expand this spring. The company is also among the semifinalists in the McCloskey New Venture Competition, which is sponsored in part by Mendoza. The competition will wrap up during IDEA Week at the University of Notre Dame.

On the other side of that problem are property owners such as Theobald’s business contact Ben Satterlee. His Long Beach, California, trucking firm has more than 30 acres of intermodal equipment storage space available minutes from the city’s port but no easy way to connect with freight companies with short-term storage needs.

Read more here.

 by Daily Domer Staff

Posted In: Features