CRM and performance management platform Knock has announced that it has raised $20 million in growth funding, bringing the company’s total raised capital to $47 million.
The funding round was led by Fifth Wall, a venture capital firm focused on technology-driven innovation in the real estate industry. Participants among existing investors include Madrona Venture Group, Lead Edge Capital, Second Avenue Partners, and Seven Peaks Ventures. Vik Chawla, partner at Fifth Wall, also will join Knock’s board of directors.
Knock intends to use the funding to expand its team and product portfolio, which includes sales and leasing management, virtual and self-guided tours, fraud prevention, applicant screening, leasing, and forecasting. The company has quadrupled revenue over the past two years, and over 1.5 million apartment units are covered under its platform.
“Our mission is to enable successful communities, and we live up to that mantra by providing multifamily owners and property managers with the products and partnership to give them a demonstrable competitive edge,” says Demetri Themelis, co-founder and CEO at Knock. “… We’re passionate about our customers and have made tremendous investments into integration, automation, and data transparency to make Knock the smartest and most intuitive CRM—our clients and their assets outperform as a result. We’re incredibly excited about this partnership with Fifth Wall. Their team and reputation for helping portfolio companies become category winners is unmatched."
According to the firm, Knock’s products are in use at more than half of the NMHC’s Top 50 managers, including Starwood Capital Group, ZRS, FPI, and Cushman & Wakefield. The company introduced a number of new offerings last year, including lease renewal CRM, resident analytics reporting, and a sales dashboard for operators. Integrations with SmartRent, BetterBot, Tour24, Zumper, Rently, Leasehawk, and Hyro.ai have enhanced the platform’s virtual tour and conversational AI capabilities.
“As the preeminent CRM solution for multifamily real estate, Knock helps owners and management companies do both,” says Fifth Wall partner Vik Chawla. “Its platform optimizes the entire tenant relationship—from marketing to retention—and serves as a workforce management solution for training and tracking productivity. As operators face escalating challenges, we believe Knock is positioned as the ideal partner to help their businesses thrive.”
