Latchel, a Seattle, WA-based property management platform modernizing maintenance operations and resident amenities, raised $16.7m in Series A funding.
The round was led by F-Prime Capital with participation from RiverPark Ventures and existing investors MetaProp, Bain Capital Ventures, 1984 Ventures, and Hack VC. As part of the round, John Lin of F-Prime Capital will join the board.
The company intends to use the funds to accelerate product development, deepen third party property management integrations, and expand platform customizability across maintenance automation solutions so any property manager can enhance resident service levels and reduce their operating cost.
Led by Ethan Lieber, CEO and Founder, Latchel provides a plug and play maintenance operations and virtual resident amenity platform that simplifies resident management for property managers. Maintenance inquiries and questions are answered by experienced professionals in 60 seconds, 24/7/365. With a fully customizable resident amenity platform, Property Managers can offer their residents a full suite of benefits that elevate the rental experience through Latchel’s curated partners – things like cashback on rent, insurance policies (rental, auto, pet, etc), and resident caused damages.
The company recently implemented fintech into their product with a Vendor Pay feature, allowing property managers to manage and automate invoicing for service providers.
The platform is used in over 100k homes nationwide and processes over 12,000 maintenance requests every month.