SAN FRANCISCO, Jan. 19, 2022 /PRNewswire/ — As landlords accelerate their adoption of technology, fast-growing technology company Hemlane continues to drive this trend to lower operating costs and increase efficiency. The all-in-one property management platform announced today that it closed $9 million in funding co-led by Asymmetric Capital Partners and Prudence, with participation from Aglaé Ventures and State Farm Ventures. The round took place at a material increase from the prior investment’s valuation.
Hemlane leverages software, a tech-enabled operations team, and a local marketplace of brokerages to provide landlords with a flexible solution to (in some cases) fully manage their assets from anywhere in the world. “The challenge with traditional property management is that landlords were forced to choose between either full service or do-it-yourself; both are inherently flawed,” says Dana Dunford, Co-Founder and CEO of Hemlane. “Through technology, we offer an alternative that preserves the advantages of full service at a previously unavailable price point. Our tiered system allows landlords to select their level of involvement while tapping into licensed professionals for everything else. We’ve seen validation of our business model as we take share from traditional property management and attract landlords who have yet to find an attractive property management solution.”
The software platform provides best-in-class workflows to mitigate risk and automates the rental lifecycle from finding a tenant to managing repairs. Upgraded packages allow landlords to use Hemlane’s network of local licensed agents and managers, chatbots for troubleshooting repair requests, and 24/7 maintenance coordinators.
With more than 14,000 rentals on the platform, the company has partnered with top nationwide brokerages, such as Keller Williams and RE/MAX, to provide a property management solution to their brokerages and their clients. Additional relationships with leading associations, partners and affiliates have fueled the company’s impressive growth.
“Hemlane is defining and leading a new category in remote property management, enabling the full suite of features landlords crave at a price point unmatched by other full-service solutions across the industry,” says Sam Clayman, Partner at Asymmetric. “Their platform approach, core product quality, and efficiency of customer acquisition and retention create true differentiation in a crowded market. Perhaps more importantly, Dana and her team are best-in-class and relentless in their drive to build a category champion. We are thrilled to partner with her and the broader Hemlane team in accelerating their next phase of growth.”
Rated #1 in property management by Gartner last year, the company is currently processing nearly $200 million in annualized payments. Hemlane has rental properties in all 50 states and plans to use its latest funds to further extend its partnership strategy and expand services for its users.
Hemlane is an all-in-one rental management solution. Hemlane’s technology empowers rental owners to manage their properties remotely with a transparent platform that offers online tools, connections to local licensed agents, and coordination of property maintenance. The company is headquartered in San Francisco, California. Learn more at https://www.hemlane.com/, Twitter @hemlane, and Facebook at @hemlane.
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