RentCheck, the world’s first automated property platform, has received an investment of $3.6 million via its pre-seed and seed fundraising round. The new cash will assist the company to expand its pioneering technology to more property management companies and tenants across the USA.
RentCheck develops a tenant-led inspection platform and helps to solve one of the largest problems in property management, which are disputes over deposits. The firm’s digital platform offers a way for property managers to conduct remote property inspections, therefore, it will save time and money for managers and tenants.
Founded by Marco Nelson and Lydia Winkler, RentCheck caught the attention of the founder of TPG Capital, Jim Coulter, to become one of the company’s first investors.
The seed round includes strategic investors and successful entrepreneurs such as Cox Enterprises, Irongrey, Context Ventures, Techstars, Ken Goldman, the former CFO of Yahoo, John Kuolt and Mark Zalesk from BCG Digital Ventures, Brian Long, the Attentive founder, among others.
The pandemic has seen a period of big growth for the world’s first automated property inspection platform when people must limit contact with others.
RentCheck’s technology was created by expert engineers bringing a new level of transparency into the process of property management. The platform targets both tenants and property managers. That makes the company a crucial edge over competitors in the space who mostly build software for property managers.
John Kuolt, former Managing Director at BCG Digital Ventures, commented,
“What we love about RentCheck is that it’s using very clever technology to automate and solve arguably the industry’s biggest problem in terms of money and time for both property managers and tenants. The deposit deduction issue needs a technology-based solution, and almost everyone, at some time, has felt like they’ve been screwed over on their deposit by a landlord. When you see and use RentCheck’s solution, it makes you think: ‘Why didn’t I think of this?'”
RentCheck is set to expand its market and make it become a goto platform for the industry.
