SuiteSpot, a Toronto, Canada-based provider of multifamily centralization software, raised an undisclosed amount in Series A funding.
The round was led by RET Ventures, with participation from UDR, a multifamily REIT.
The company intends to use the funds to continue its product development to simplify workflows and boost productivity for its customers.
Founded in 2017 by CEO Elik Jaeger, SuiteSpot provides a SaaS platform to help property owners and operators centralize their multifamily maintenance and capital operations at scale. The solution integrates with leading property management systems (PMS), and other PropTech solutions creating an optimal operational experience by fitting within existing workflows and tech stacks. It is currently being used across over 500,000 rental units.
With the capital from its Series A, SuiteSpot will continue its product development to simplify workflows and boost productivity for its customers. Additionally, the company will be expanding its go-to-market and support teams to roll out its technology to a wider swath of the multifamily market and ensure continuous personalized support. The company will also be focusing on driving further adoption of SuiteSpot Capital, launched last year, which improves capital operations performance and provides centralized oversight to asset managers.
FinSMEs
10/10/2024