TurboTenant, a property management platform that reports serving more than 200,000 landlords in 50 states, has nabbed $6.5 million in a Series A funding round.
The startup brings the sort of software to smaller landlords that frequently has only been available to larger property management companies in the past, including tools that allow landlords to easily syndicate listings across rental search sites, such as Craigslist, manage leads and accept and vet applications online.
The funding round was led by RET Ventures, a venture capital fund that is backed by and caters to the residential rental industry. It also included participation from existing investors, including Access Venture Partners.
TurboTenant caters to a “historically underserved segment of the independent landlord market, which has made it one of the fastest growing rent tech companies in the market today,” said RET Ventures managing director John Helm in a statement.
TurboTenant plans to use its new pot of cash to grow its marketing and development teams, with the aim of expanding its reach and enhancing its products. The Fort Collins, Denver-based startup also plans to soon launch a rent payment system and new communication tools, according to a release.
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