Proptech Roundup: Firms Announce Major Funding, Multifamily Solutions

By Christine Serlin – SOURCE: MFE

Aerwave to Deploy $50 Million in Infrastructure Capital

Aerwave, a next-generation managed Wi-Fi platform, has launched its strategic capital program, AerPays, with its capital partner to drive $50 million for investment into network infrastructure over the next 12 months.

AerPays will make it possible for Aerwave to install its platform at multifamily communities with no upfront costs to the owner. According to the firm, this eliminates a common barrier to the adoption of managed Wi-Fi services. Operators will pay a monthly fee to use the network and access Aerwave’s managed Wi-Fi platform and customer support.

“This program will accelerate the number of properties and apartment homes in our pipeline and extend our platform to owners who have not yet allocated capital for connectivity enhancements at their properties,” said Ed Wolff, president of Aerwave. “Our core mission is to deliver seamless Wi-Fi connectivity for multifamily housing nationwide, and this program will enable us to remain steadfast in that commitment.”

The program will offer key benefits to owners, including a debt-free option to replace or improve connectivity infrastructure, access the latest Wi-Fi technology with hardware refreshes, and the option to buy out the network infrastructure if they choose to do so. aerwave.io

Grubhub Boosts Delivery Operations With Amazon Key

Amazon Key and Grubhub have announced they are working together to simplify deliveries in access-restricted residential buildings and communities. Grubhub has completed nearly 1 million deliveries using Amazon Key, which has enhanced delivery operations.

According to Grubhub, by utilizing Amazon Key, it has reduced delivery partner care team calls by over 50% and seen a 22% decrease in order cancellation rates. In a recent internal survey, 72% of its drivers reported that Amazon Key provided quicker access to delivery locations.

How it works is the single Grubhub delivery partner assigned a delivery at an Amazon Key-enabled building will gain time-bound access to the common area. Property managers have to opt into third-party delivery service, and they have the control to enable Grubhub access to the building and can revoke at any time. For Grubhub drivers, it means a more efficient contactless dropoff and eliminates the need to coordinate with building staff or wait for manual access. For residents, it means fewer missed deliveries and less hassle for package handoffs.

“For years, Amazon Key has transformed how Amazon deliveries are made within restricted-access buildings, providing a seamless experience for building staff and delivery drivers alike. We’re excited to now extend that same convenience to Grubhub,” said Kaushik Mani, director of Amazon Key. “As online shopping continues to grow, the influx of packages presents new challenges for delivery drivers and building management. Amazon Key is proud to be at the forefront of offering a frictionless, secure solution for deliveries within building lobbies and gated communities.” amazon.com

HappyCo Marks Official Centralized Maintenance Release

HappyCo has announced the official release of Centralized Maintenance, a suite of solutions driven by artificial intelligence (AI) that automate, optimize, and standardize maintenance operations. This is now available to property management companies across the United States and Canada, including 4.5 million units served by HappyCo’s platform.

According to HappyCo, Centralized Maintenance provides the blueprint for overcoming some of the industry’s pressing challenges, such as labor shortage, resident retention, and slowing rent growth.

“HappyCo has been working with industry leaders for over two years to redefine centralized maintenance,” said founder and CEO Jindou Lee. “Our initial goal was to challenge the industry status quo of one technician to 100 units. Today, we are seeing customers push toward one technician to 150 units and beyond. While this growing number shows progress, it’s only beginning to scratch the surface of how Centralized Maintenance can optimize resources and efficiency and enhance the resident experience.” happy.co

Obligo Secures $35 Million in New Financing

Fintech firm Obligo is expanding its flexible security deposit solutions with $35 million in new financing. True Global Ventures and 83North co-led the funding round, with 10D, Entrée Capital, HighSage Ventures, MUFG Innovation Partners, and Viola Credit as additional equity and debt investors. This funding will help fuel the company’s continued production innovation, IP development, and strategic partnership expansion.

“This investment is a testament to the market’s confidence in our machine learning technology, API-first distribution strategy, and our vision for the future of renting,” said Obligo CEO and co-founder Roey Dor. “The value is clear: A recent survey showed that 55% of renters cited Obligo as a key factor in selecting their current home. With these additional resources and our recently announced property management software partnerships [with AppFolio, Buildium, and Yardi], we are uniquely positioned to become the top deposit solution for millions of U.S. homes.” myobligo.com

Revyse Reaches $2 Million in Venture Funding

Revyse, a vendor management software built for the multifamily industry, has announced the closing of a $1 million seed investment from real estate technology venture capital firm RET Ventures. This funding comes on the heels of a recent $1 million raise in May. The firm will use the latest capital to continue progressing its product road map.

The firm was launched last year by proptech veterans Bobbi Steward and Ben Steward to modernize and streamline vendor management for multifamily owners and operators. Its life-cycle management software, Revyse Vendor Intelligence, features an AI-powered contract management platform and allows operators to track contracts and agreements across the enterprise. Revyse also features a marketplace for owners to search and engage with potential vendors.

“In my days as a multifamily marketing executive, I learned firsthand about the inefficiencies with traditional vendor management processes. Real estate executives deal with many dozens of vendor contracts on both the corporate and property level, and attempts to manage renewal dates—or even to track who is managing a vendor relationship—quickly spiral into chaos,” said CEO and co-founder Bobbi Steward. “At Revyse, our goal is to bring the process of multifamily vendor relationship management into the 21st century. RET’s strong relationships within the multifamily industry give it a keen understanding of the pain points felt by real estate operators, and we’re thrilled to partner with RET as we continue building out our product suite.” revyse.com

Tour24 Raises $5 Million in Series B Funding

Self-guided tour firm Tour24 has closed its $5 million Series B funding round, led by RET Ventures. With the capital, it plans to continue its product road map development and make improvements to its user experience. Tour24 also will focus on growing its team and continuing expansion across the multifamily market nationwide.

Tour24 was founded in 2020 to help optimize the leasing process for owners and developers by delivering a seamless, self-guided touring experience. Owners can offer curated tours during and after regular office hours with pre-recorded audio describing the units and amenity features. By placing Bluetooth beacons in every room, it also can provide insights into which areas prospects spend the most time in during the tour.

The Boston-based company serves 525,000 units across 2,000-plus multifamily communities nationwide. It is being utilized by several RET strategic investors, including AMLI Residential, Berkshire Residential Investments, GID, Highmark, and LCOR. tour24.io

[Source: MFE]