On Tuesday, Redondo Beach-based Leonardo247 announced that it raised $9.5 million in a funding round led by Level Equity.
Leonardo247 has created a property management platform for real estate professionals and people who help operate multi-family buildings. It can help with scheduling maintenance and inspections, filing work orders, communicating with team members and more. There’s a lot that goes into operating and monitoring a property, but Leonardo247 wants to help by giving property managers cloud-based tools that can be used from any device.
These tools are especially helpful when property managers are in charge of buildings with a lot of units. With multi-unit buildings, it’s important to keep the workload organized and manageable, which is what Leonardo247 aims to do. The cloud-based platform also means property managers can get work done without having to show up to each unit in person. Plus, a property manager with a lengthy to-do list isn’t good for tenants either.
The company has seen a steady adoption of its platform since it launched in 2014, growing more than 100 percent year-over-year. Its platform is on track to pass 4,000 properties managed by the end of the year.
“Ninety-five percent of our customers use Leonardo247 for 100 percent of their properties, which is a strong statement about the value of the platform,” CEO and founder Daniel Cunningham said in a statement. “With Level Equity’s investment, we can accelerate our expansion and showcase the benefits of Leonardo247 for multifamily management, as today’s business executives look for ways to streamline and improve their remote management capabilities.”
Leonardo247 says that this new investment will help it grow to meet increased demand. It’s also looking into building new features to expand into other commercial real estate markets.
