MIAMI--(BUSINESS WIRE)--Rig Hut, an innovator in industrial outdoor storage technology, today announced the launch of an enhanced, technologically-enabled marketplace and management tool that pairs millions of truck drivers with thousands of outdoor storage landlords in real time. Commercial real estate veteran Thomas A. Rizk is making an early-stage investment to fund the next phase of technology development, marketing, operational and revenue growth efforts.
Rig Hut is poised to modernize the $200 billion outdoor storage industry by helping landlords monetize underutilized property, connecting them with truck drivers in need of secure and available parking spaces throughout the country. Property owners who use Rig Hut are able to immediately approve and assign parking stalls, engage in comprehensive inventory management, and access built-in automated communication for rapid support and functions. As an advanced feature, Rig Hut can seamlessly integrate its reservation system into a property's existing smart gate programs, allowing for fully automated functionality.
South Florida-based entrepreneurs Jake Guso and Jose Lorido founded Rig Hut to solve the critical needs facing the truck parking industry identified from firsthand experience managing outdoor storage facilities. This hands-on experience informed the development of the suit of technology-enabled management tools designed to streamline transactions and automate facility management, ultimately increasing revenue while diminishing operating costs.
“During our time working directly with truck drivers and landlords managing truck parking facilities, it became apparent that these two groups share an intersecting problem which requires a unique, intersecting solution. We are excited to roll out Rig Hut’s new technology platform and state-of-the-art marketplace designed to help our country’s hard-working truck drivers find safe parking efficiently by pairing them with well-equipped property owners with available space,” said Mr. Guso, co-founder of Rig Hut.
“Our goal is to transform the outdoor storage industry by introducing a much-needed modernized operating system for industrial parking operators and a safer experience for drivers,” said Mr. Lorido, co-founder of Rig Hut. “The lack of available parking spaces has directly impacted the safety, security and financial strength of the trucking industry. Landlords are also encountering significant barriers in this environment preventing them from effectively managing and monetizing their portfolios, leading to millions of dollars in lost revenue each year. Rig Hut is a win-win for both sides.”
In 2012, Congress passed “Jason’s Law” in honor of Jason Rivenburg, a truck driver who lost his life in a violent crime due to insufficient safe truck parking. The legislation requires the U.S. Department of Transportation (DOT) to regularly evaluate each state’s parking capabilities, truck traffic volume, and the overall adequacy of available parking facilities. This publicly available survey has helped shine a light on the national shortage safe, sufficient parking. DOT, together with the American Trucking Association and Owner-Operated Independent Drivers Association shared that a staggering 98% of truck drivers report problems finding safe parking and are forced to spend 56 minutes locating sufficient parking. In addition to the physical safety issues, this inefficient use of time reduces an individual driver’s productivity by 9,300 revenue-earning miles a year, equating to nearly $16 billion in lost productivity across the labor pool.
To meet this critical need and support the effectiveness of the U.S. supply chain, Rig Hut’s marketplace empowers millions of truck drivers with immediate access to a network of over 3,000 secure parking spaces. By offering real-time inventory reporting, the drivers’ experience becomes efficient and unhindered, enabling them to browse, filter, request, and book parking spaces on-demand. The platform will seamlessly display available parking spaces near the driver's current location and provide access instructions immediately upon booking confirmation.
As rapid expansion continues nationwide, Rig Hut is now operating with a strong presence in a number of prime markets, including California, Florida, Texas, Georgia, South Carolina, New Jersey, Arizona, Pennsylvania, Minnesota, Illinois and Missouri. One key customer on the platform, Fleet Parking Solutions is utilizing Rig Huts management tools to seamlessly control slip assignments, automate payments, and onboard drivers to secure one of their 1,400 parking spots at their nine lots throughout New Jersey. Penske, one of the largest corporate transportation companies in the country has partnered with Rig Hut to secure parking for their drivers in California and Michigan. Additionally, a large network of drivers who work for Ryder, Landstar and other independent owner-operators are also utilizing Rig Hut to locate parking at participating lots throughout the country.
“When we first met Jake and Jose, we knew immediately that their technology addressed a big, messy and significant problem facing the transportation and real estate industries today,” said Thomas A. Rizk, Founder and Chairman of Rizk Ventures. “Rizk Ventures has a successful track record investing in early-stage technology companies, and we are confident that Rig Hut has the inside track to become true market leaders in the $200 billion outdoor storage industry.”
To learn more about the full suite of technology enabled services Rig Hut provides or join the marketplace today, visit www.therighut.com.
About Rig Hut
Rig Hut is a technology company operating a leading truck parking and outdoor storage space solution in the United States. The company was founded in 2022 by real estate and technology service veterans, Jake Guso and Jose Lorido after they gained direct experience managing industrial parking lots. Rig Hut was built to offer an innovative solution to pair truckers in need of safe and secure parking with property owners looking to monetize underutilized property while providing the tools necessary to operate facilities efficiently. Backed by real estate investment platform, Rizk Ventures, Rig Hut currently supports a nationwide network of drivers and lot partners throughout the East Coast and Southwest.
About Rizk Ventures
Rizk Ventures was founded by Thomas A. Rizk in 1993, as a special situations operating business utilizing technology to launch businesses focused on solving everyday problems. Since inception, Rizk Ventures has a proven track record of identifying and solving inefficiencies across multiple sectors. Rizk Venture’s goal is to take advantage of its strengths by arming founders with the tools needed for unprecedented competitive advantage within their industry.
Across its portfolio companies, Rizk Ventures owns more than 26 million square feet of real estate across 314 properties in the suburban office, light industrial, healthcare and self-storage sectors. In its LaunchTech vertical, Rizk Ventures has established platforms with artificial intelligence technology to address inefficiencies and problems in the real estate, healthcare, supply chain and transportation sectors.