Property Meld, a Rapid City, S.D-based property maintenance software platform, announced that it raised $15 million in Series B funding.
The round was led by Frontier Growth, with participation from Vesta Ventures, South Dakota Equity Partners, and Badlands Capital.
This raise brings the company's total funding to $22 million and will support Property Meld's continued growth and product expansion.
"Our growth and development over the past year demonstrate the need for a high-performing maintenance platform within the industry," says Ray Hespen, CEO, and Co-founder of Property Meld. "Maintenance and repair costs are the highest, least optimized, and most controllable budget items for property management companies. They also impact leasing costs and vacancy rates, as a poor maintenance experience is the number one reason for renter churn. Our customers experience significant improvement across these dimensions when using Property Meld to manage their maintenance process."
Property Meld helps property managers optimize their maintenance process while also enhancing scheduling, billing, and communication with residents and maintenance vendors. Property Meld has over 650 customers and over 450,000 units.
Industry leaders like Evernest, HomeRiver Group, PURE Property Management, Real Property Management, All County, and PMI franchises use Property Meld to power maintenance. Property Meld also offers robust integrations with AppFolio, Buildium, Propertyware, and RentManager.
Company: Property Meld
Round: Series B
Funding Month: January 2023
Lead Investors: Frontier Growth
Additional Investors: Vesta Ventures, South Dakota Equity Partners, and Badlands Capital
Company Website: https://propertymeld.com/
Software Category: Property Maintenance Software
About the Company: Founded in 2015, Property Meld is a stand-alone maintenance software platform for property management companies to optimize their maintenance process. Property management companies experience maintenance scheduling, communication, coordination, billing, and oversight friction. In response, Property Meld provides a solution that significantly reduces maintenance costs and increases satisfaction for all stakeholders in the maintenance process.