Latchel raises $16.7 million

Property management platform Latchel has raised $16.7 million in Series A funding led by F-Prime Capital, with participation from RiverPark Ventures and existing investors, MetaProp, Bain Capital Ventures, 1984 Ventures, and Hack VC.

Founded in 2016, Latchel offers property managers a maintenance operations platform along with Home Assistant, a “top-tier lifestyle and financial amenities” solution for residents. 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.”

It appears that landlord insurance startup Steadily is in the mix, but as a renters insurance provider.

“There is a massive opportunity to impact rental management in a meaningful way. There has been a lot of investment in the proptech space, but most of it has been around customer acquisition rather than how property managers can better serve their residents. Latchel is one of the few companies that is focused on the day to day operations management and creating a better experience for the resident.” – John Lin, investor at F-Prime Capital.

“The most rewarding part of being able to build solutions in this industry is the relief, reassurance, and empowerment we’ve been able to give to our customers and their residents, and the difference it has made in both their businesses and personal lives. We’re excited to have more fuel to continuously improve the solutions we build, expand, and allow more property managers to provide better and more competitive resident service levels, and to operate more doors with less overhead cost.” – Ethan Lieber, CEO and founder of Latchel.

Latchel’s platform is used in over 100k homes nationwide.