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Founded Year

2020

Stage

Seed VC - II | Alive

Total Raised

$4.15M

Last Raised

$3.3M | 1 yr ago

About Propify

Propify provides an application programming interface (API) platform for property management. It manages the residential and commercial real estate industry, enabling users to help the property technology ecosystem grow. It was founded in 2020 and is based in Boston, Massachusetts.

Headquarters Location

101 Canal St #729

Boston, Massachusetts, 02114,

United States

608-520-0345

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Propify's Product Videos

Propify's Products & Differentiators

    Rent check mailing

    We allow renters to pay their rent using a mobile app (similar to Venmo) and then we aggregate payments and send a single check to their landlord

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Expert Collections containing Propify

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

Propify is included in 2 Expert Collections, including Digital Lending.

D

Digital Lending

2,187 items

This collection contains companies that provide alternative means for obtaining a loan for personal or business use and companies that provide software to lenders for the application, underwriting, funding or loan collection process.

F

Fintech

8,122 items

Companies and startups in this collection provide technology to streamline, improve, and transform financial services, products, and operations for individuals and businesses.

Latest Propify News

Property Management Startup Propify Closes $3.3M Seed Funding Round

Oct 10, 2023

The firm aims to integrate and unify certain software for owners By Philip Russo October 10, 2023 9:00 am Illustration: Production Perig/Adobe Stock Propify , a startup that makes a unified application programming interface (API) for property management software, announced Tuesday that it has closed a $3.3 million seed round. The Boston-based company secured the funding from Fifth Wall , Prudence , Y Combinator , RXR , PropTech Angel Group and HubSpot co-founder Dharmesh Shah, among others. The company said the funds from the round will be used to further build out its product and grow its engineering team. Propify ’s product enables engineers to launch integrations in days rather than months, reducing development and ongoing maintenance costs, according to the company. It combines a modern API, documentation, and scalable infrastructure to support proptech clients. Many proptech companies are attempting to address property managers’ multiple pain points, but Propify claims its API is unique. “APIs are effectively designed to move data from one system to another,” said Remen Okoruwa, CEO and co-founder at Propify. “We actually tackle a similar but arguably more challenging problem. We are helping tech companies that serve the property management industry to allow their technology to integrate and move data between their system and multiple property management softwares. “Why is that so hard? Because the property manager software industry is pretty fragmented. You have players like RealPage , Entrata , Yardi and MRI Software — there’s a long list of software that these companies are attempting to build integrations into in the absence of what we provide with our technology. These companies have to build and maintain multiple separate integration. Our unified API effectively serves as a universal translator, allowing our clients to build a single integration into our system that will then be able to move data back and forth between all of those property management software APIs that we connect to.” For Fifth Wall , the Los Angeles-based proptech venture capital firm, Propify was an opportunity to invest in what Fifth Wall sees as a unified API solution for property managers and proptech software companies attempting to integrate with each other. “We actually see the challenges on both sides of the equation, where on one side you have real estate owners that sometimes have multiple property management software systems installed across their assets — and those are our LPs,” said Dan Wenhold, partner and co-head of real estate tech investment at Fifth Wall. “And, then, on the other side of the equation, you have upstart startup software technology companies that are serving real estate owners and needing to connect into property management software systems or sit alongside them. “They’re building apps essentially that can do everything from rent collection to leasing, to renter retention, other types of payments, processing software, and all the things that have to build integrations,” Wenhold added. “Similarly, on the LP side, there needs to be resources and costs associated with building integrations from the owner side as well. Propify solves that and acts as the connective tissue between many of the apps that are disrupting the property management space. So we got really excited that this was a company that not only could help our LPs, but could also help existing companies in our portfolio that we’ve also invested in already.” Propify pivoted out of another startup, Rentdrop , which was a rent payment application, in fall 2022. “It was a pivot that was born from a pain that we directly experienced,” Okoruwa said. “We were unable to successfully sell property managers to use our rent payment app, because we never actually were able to get those integrations done.” The current startup has six full-time staff serving clients across the U.S., Canada and Israel, with an eye toward growing geographically and across real estate sectors, said Okoruwa. “We’re in the process of exploring ways that our integration and data management tools can more directly benefit multifamily property owners and managers. So we have some product stuff that’s going to be getting announced in the coming months.” Philip Russo can be reached at prusso@commercialobserver.com . Keywords:

Propify Frequently Asked Questions (FAQ)

  • When was Propify founded?

    Propify was founded in 2020.

  • Where is Propify's headquarters?

    Propify's headquarters is located at 101 Canal St, Boston.

  • What is Propify's latest funding round?

    Propify's latest funding round is Seed VC - II.

  • How much did Propify raise?

    Propify raised a total of $4.15M.

  • Who are the investors of Propify?

    Investors of Propify include Y Combinator, RXR, PropTech Angel Group, HubSpot, Prudence Venture Capital and 4 more.

  • Who are Propify's competitors?

    Competitors of Propify include Property Management, Momentum Software, Qira, Zego, Zelle and 7 more.

  • What products does Propify offer?

    Propify's products include Rent check mailing and 1 more.

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Compare Propify to Competitors

Property Management Logo
Property Management

Property Management focuses on property management across various sectors. The company offers a range of services including residential, commercial, association, and short-term rental management, as well as realty and brokerage services. These services are designed to provide owners with options that add value to their properties. It was founded in 2008 and is based in Lehi, Utah.

letus Logo
letus

letus provides an online global payment network. The company allows residential tenants to pay rent and condo owners to pay their condo fees by credit card, debit card, and direct debit. It was formerly known as RentMoola. The company was founded in 2013 and is based in Vancouver, Canada.

Moneymailme Logo
Moneymailme

Moneymailme is a money transfer and chat app that combines the social interaction with the joy of sending and receiving money on a phone, facilitating micro-payments, file sharing and chatting. Launched in 2015, Moneymailme lets users send and receive money, fast and secure, in six currencies – Euro, US Dollars, British Pounds, Polish Zloty, South African Rand, and Swiss Franc – even during a video call.

Foliolens Logo
Foliolens

Foliolens operates as a property management software. It offers a one-click data entry, intelligent alerts, online rent collections, tax preparation support, personalized tenant, and more. It was founded in 2021 and is based in Carlsbad, California.

Rhino Logo
Rhino

Rhino helps renters and landlords simplify the renting process through its integrated platform. It offers a variety of services, including security deposit insurance, renters insurance, cash security deposit management, and more. The company was founded in 2017 and is based in New York, New York.

F
Flex

Flex is a company that operates in the financial services sector, with a focus on rent payment solutions. The company offers a service that allows renters to split their rent into two payments, providing them with the flexibility to pay on their own schedule. This service primarily caters to the real estate industry. It was founded in 2019 and is based in New York, New York.

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