Search company, investor...
Lessen company logo

Lessen

lessen.com

Founded Year

2019

Stage

Debt | Alive

Total Raised

$1.169B

Last Raised

$963.52M | 18 days ago

About Lessen

Lessen is a marketplace platform that unites property owners and service professionals to deliver property services. Its platform provides job workflow and outsourcing of property service projects, automating the management of the entire property services lifecycle. It seamlessly connects property owners to professionals for renovation, maintenance, cleaning, and turn services, efficiently delivering property services at scale. Lessen was formerly known as Project Ponos. The company was founded in 2019 and is based in Scottsdale, Arizona.

Headquarters Location

4800 N. Scottsdale Rd. ste 5000

Scottsdale, Arizona, 85251,

United States

844-227-2827

Missing: Lessen's Product Demo & Case Studies

Promote your product offering to tech buyers.

Reach 1000s of buyers who use CB Insights to identify vendors, demo products, and make purchasing decisions.

Missing: Lessen's Product & Differentiators

Don’t let your products get skipped. Buyers use our vendor rankings to shortlist companies and drive requests for proposals (RFPs).

Expert Collections containing Lessen

Expert Collections are analyst-curated lists that highlight the companies you need to know in the most important technology spaces.

Lessen is included in 2 Expert Collections, including Unicorns- Billion Dollar Startups.

U

Unicorns- Billion Dollar Startups

1,205 items

R

Real Estate Tech

2,258 items

Startups in the space cover the residential and commercial real estate space with a focus on consumers. Categories include buying, selling and investing in real estate (iBuyers, marketplaces, investment/crowdfunding platforms), and also tenant experience, property management, et

Latest Lessen News

Lessen Acquires SMS Assist

Jan 15, 2023

Lessen , a Scottsdale, AZ-based tech-enabled, end-to-end solution for outsourced real estate property services, acquired SMS Assist, a Chicago, IL and Phoenix, AZ-based facilities maintenance technology company. Led by Michael Rothman, founder and chairman, SMS Assist enables service providers and property owners to work together by delivering transparency and control within the facilities maintenance industry. Retail stores, banks, restaurants, rental homes, and more make up the over 200,000 properties that use every day its technology platform, in-house subject matter experts and 24/7 support. The transaction consists of both cash and stock, with Lessen raising approximately $500m in combined new debt and equity, in addition to SMS Assist stockholders exchanging a portion of SMS stock for Lessen stock, resulting in an increased combined company valuation of over $2 billion in enterprise value. Debt and equity investors who backed this transaction include Monroe Capital, Värde Partners and Koch Real Estate Investments. Additionally, clients who invested in the deal with Lessen include Invitation Homes and American Homes 4 Rent, among others. The new, combined technology platform will allow the many service providers—from contractors, painters, plumbers to electricians and more—to act as one, performing work at a national level. This work will be overseen and inspected for quality by Lessen’s in-house project managers. The combined solution will help owners overcome skilled labor shortages, while simultaneously reducing administrative burden, providing efficiency and real-time project updates. Contractors and providers of all sizes are already joining Lessen and SMS Assist’s existing network of more than 25,000 professionals, allowing them to gain access to work and get paid rapidly with less expense to their business. This acquisition also provides Lessen with additional scale to enhance its materials sourcing and last-mile logistics capabilities to unlock key growth opportunities for clients and contractors. By merging, the two companies will serve a national footprint of approximately 250,000 residential and commercial properties and facilitate approximately 2.5 million repair and maintenance orders per year – in tandem with bolstering a broader range of property services. Following the close of the transaction, Lessen’s McKee will continue to lead the newly combined company as CEO and serve as Chairman of the Board of Directors. Led by Jay McKee, founder and CEO, Lessen is the premier provider of tech-enabled, end-to-end renovation, turn, and maintenance services for the residential real estate rental industry. Powered by its proprietary technology suite, local field project managers deploy and oversee a network of vetted service professionals in 40+ markets delivering consistency, quality and speed, at scale. FinSMEs

Lessen Frequently Asked Questions (FAQ)

  • When was Lessen founded?

    Lessen was founded in 2019.

  • Where is Lessen's headquarters?

    Lessen's headquarters is located at 4800 N. Scottsdale Rd., Scottsdale.

  • What is Lessen's latest funding round?

    Lessen's latest funding round is Debt.

  • How much did Lessen raise?

    Lessen raised a total of $1.169B.

  • Who are the investors of Lessen?

    Investors of Lessen include Koch Minerals, Monroe Capital, Varde Partners, American Homes 4 Rent, Invitation Homes and 6 more.

Discover the right solution for your team

The CB Insights tech market intelligence platform analyzes millions of data points on vendors, products, partnerships, and patents to help your team find their next technology solution.

Request a demo

CBI websites generally use certain cookies to enable better interactions with our sites and services. Use of these cookies, which may be stored on your device, permits us to improve and customize your experience. You can read more about your cookie choices at our privacy policy here. By continuing to use this site you are consenting to these choices.