Knock raises $12 million

Knock CRM, the sales and marketing SaaS platform for residential property management companies, has raised $12 million in a Series B round led by Madrona Venture Group, with participation from Lead Edge Capital and Seven Peaks Ventures, bringing the company’s total capital raised to $27.5 million.

Founded in 2014 to simplify the way property managers and renters communicated during the leasing process, Knock’s first products included tools for scheduling, messaging, and workflow organization. The platform has grown to provide much of the marketing, sales, service, and retention tools apartment manager needs, along with business intelligence solutions for asset managers and owners. More than 1 million apartment units are managed on the platform and the company more than doubled its revenue in 2019.

https://www.youtube.com/watch?v=4DKrM6KUTrM

“Every apartment building is like its own small business, but many management companies haven’t modernized their front office technology to understand what is driving performance at each property — from marketing to sales to retention. The result is asset under-performance, which may become even more pronounced with an uncertain macro climate. Knock elevates property managers and leasing teams into high performance, modern sales organizations in any environment, delivering the visibility, accountability, and productivity gains that owners need more than ever.” – Tom Petry, CEO and cofounder of Knock.

“The Knock team has executed exceptionally well since we led the Series A. They have distinguished themselves as the clear leader in front office software for multifamily operators, and have delivered strong customer value in robust rental markets. Knock is that much more critical to its customers in what could be softer rental markets to come, and we are excited to have the opportunity to double down on our investment in the company to help accelerate their product roadmap and ability to add value to multifamily operators.” – Scott Jacobson, Managing Director at Madrona Venture Group.

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