Heading into last week’s National Apartment Association’s Apartmentalize event in Atlanta, several leading industry proptech firms announced new innovations and leadership moves. Find out more about the companies’ news and how it will impact the multifamily industry.
EliseAI Raises $35 Million in Series C Funding
EliseAI, a conversational artificial intelligence (AI) platform for the real estate industry, announced a $35 million Series C fundraising round.
The company, which serves 1.5 million multifamily and single-family rental units, provides products that automate conversations between potential and current renters and apartment communities via SMS, email, phone, and webchat as well as workflows through integration with key software systems.
The round was led by Point72 Private Investments, with participation from Koch Real Estate Investments and existing investors Golden Seeds, Navitas Capital, JLL Spark, and DivcoWest. In addition, Eddie Kang, who leads Point72 Private Investments’ growth-stage investment activities, joins EliseAI’s board of directors.
“We started this company with the vision of using the most advanced technology to transform the industries fundamental to our lives,” said co-founder and CEO Minna Song. “We are incredibly proud of the change we have driven in the real estate industry over the last six years. We are thrilled to bring on new partners to enable us to continue to innovate and push into new markets.”
Janine Steiner Jovanovic Named LeaseLock CEO
LeaseLock, a lease insurance and financial technology provider for the rental housing industry, has named Janine Steiner Jovanovic as CEO.
Steiner Jovanovic is a former executive vice president of asset optimization at RealPage, where she was instrumental in guiding the company from its inception to taking it public in 2010. She launched UrbanStreet in 2015 to deliver corporate strategic solutions to real estate and technology firms. In her role at LeaseLock, she will help capitalize on the company’s momentum in transforming the industry’s approach to managing lease risk.
“It’s thrilling to lead a true disruptor in the multifamily space,” said Steiner Jovanovic. “LeaseLock identified a longstanding pain point in the industry and tackled it head on with a dynamic solution that eliminates a financial barrier for renters while increasing protections and net operating income for investors. The potential for growth in this sector is exciting. I look forward to ensuring LeaseLock achieves its full potential as the unrivaled lease insurance solution for rental housing.”
Level Brings Next-Gen Platform to Multifamily
Level Home, a company focused on redefining the smart-home experience, announced its next-generation platform for multifamily communities.
Its new platform addresses buildingwide access control and smart apartment automation with innovative design that provides practical user experiences. For multifamily owners, Level customizes the suite of hardware, software, and services to fit each community’s needs and spaces. For managers, it simplifies user management into a single application to enable secure day-to-day enjoyment of communitywide spaces. And for residents, the app provides a simple dashboard to manage climate, lights, and access to community spaces.
In addition, it is launching its first smart doorbell designed exclusively for multifamily. Level Doorbell allows residents to greet, view, and let in guests from the app while also being mindful of neighbor privacy and owner liability.
Level, which accelerated its multifamily platform through the acquisition of Dwelo in 2021, will retire the Dwelo brand with the release of this next-gen platform, which is in beta in select communities and expanding to additional clients this summer.
“We are excited to bring the next wave of innovation to the industry and deliver practical, simple solutions to known challenges,” said chief revenue officer Ned Murphy. “Level has proven there is a better way to bring technology into our homes, and we’re thrilled to carry that impact into multifamily communities.
Rent. Debuts Integrated Tour Scheduling
Rent., a provider of integrated marketing solutions to the multifamily and single-family rental industries, has added a new offering to its RentMarketplace. listings product. The Tour Calendar feature allows prospective renters to schedule and automatically confirm tours at their convenience, based on predetermined tour availability set by property teams. It debuts on four major listings sites within the Rent. network: Rent.com, ApartmentGuide.com, Rentals.com, and Redfin.com.
“Touring continues to be an essential step for lead-to-lease conversion,” said Nishant Phadnis, chief product officer at Rent. “Every new enhancement to Rent.’s listing products is compatible with leading platforms, generating the highest-quality leads. Our goal is to provide the industry’s easiest search experience in order to match the right properties with the right renter.”
Tour24 Launches Explore Platform
Proptech innovator Tour24 unveiled its new platform, Explore, to help meet the growing needs of its multifamily and student housing clients as well as provide new ways for property operators to connect with prospects and accelerate leases.
The improved multifamily mobile application includes streamlined end-user navigation to reach destination points and control features; easier scheduling; and enhanced images and audio, including 360-degree photos to showcase spaces.
“Tour24 offers self-guided tours for residential units throughout the United States, and we are constantly looking for new ways to meet their needs and improve the Tour24 product,” said Satish Janumpalli, chief technology officer and head of engineering and product development. “We developed Explore to meet the needs of our rapidly growing customer base and to stay up to date with emerging technologies. Not only is the look and feel of the Tour24 improved by the Explore platform, so is our ability to continue to integrate seamlessly with our technology partners.”
Valet Living Introduces MultiPro Property Solutions
Multifamily amenities provider Valet Living introduced MultiPro Property Solutions, a company that offers a broad array of property services for the multifamily industry through a single point of contact.
“Valet Living is committed to meeting the needs of our client partners,” said CEO Shawn Handrahan. “We provide services to more than 8,000 communities, and we’ve seen firsthand an acute shortage of qualified maintenance professionals to service and maintain multifamily assets, especially when it comes to turns and make-ready services. With MultiPro Property Solutions, clients can address a wide variety of property improvement needs, getting timely professional services and a consistent standard of service.”
With operations spanning coast to coast and anchored by 10 hubs in California, Colorado, Florida, Georgia, Oregon, and Texas, MultiPro Property Solutions’ services, which may vary geographically, generally include deep cleaning; light repairs; resurfacing; carpet cleaning or replacement; HVAC servicing and repair; porter and grounds service; and roof and window repair or replacement.
