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Exclusive: Property management startup Revela raises $9M

Nov 29, 2023
Illustration of a repeating pattern of houses made out of hundred dollar bills.

Illustration: Aïda Amer/Axios

Property management software provider Revela raised $9 million in Series A financing led by FirstMark Capital, the company tells Axios exclusively.

Why it matters: Property managers need better tools to oversee operations and communicate with residents and vendors, while property owners need better data and financing options.

How it works: Revela's all-in-one platform oversees multiple aspects of real estate and property management, including operations, accounting, financing and communications.

  • Revela provides property managers with a community relationship management system for communicating with residents, vendors, investors and other team members.
  • It also allows them to oversee operations to manage various leasing, maintenance and capital projects.
  • The company's financial management platform helps property managers handle accounting and payment processing, including online rent payments, vendor bill pay and AP invoice processing.

Between the lines: In addition to offering property managers the tools to better serve residents, Revela provides property owners with real-time data and insights about the health of their portfolios.

  • "If you're looking in the rearview mirror and that's your standard of reporting, it's really hard to look around corners and see what's happening on the ground," Revela CEO Grant Drzyzga says.

Yes, and: Because Revela has that data, it can help property owners to gain financing at competitive rates to optimize and grow their portfolios.

  • "That allows us to democratize a lot of these private credit mortgages, which are just as competitive as what you get from Fannie or Freddie, to help people start kind of building up their portfolios," Drzyzga says.

What's next: With the funding, Revela plans to build out new fintech services, including offering banking accounts and business credit cards and embedding lending capabilities directly into its platform.

Of note: Detroit Venture Partners, MetaProp and Assurant Ventures also participated in the funding round, which was Revela's first since being founded in 2014.

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