Avail, a Chicago startup that makes software for landlords, just landed some new funding as it looks to bring its tech to more property owners.
Avail announced Tuesday that it has raised an additional $2.5 million in a round led by St. Louis-based Cultivation Capital. The round brings Avail's total funding to date to $5.4 million.
Founded in 2012 under its previous name Rentalutions, Avail offers its software to part-time, do-it-yourself landlords. Avail's online platform allows landlords to more easily screen tenants, collect rent and manage maintenance requests. On the tenant side, Avail allows renters to apply for an apartment, sign a lease and pay rent online.
Avail says it now has more than 100,000 landlords and over 230,000 tenants using its platform. The startup says it has quadrupled revenue over the last year and a half.
"There are 8 million independent landlords leasing 24 million units across the U.S. and they lack the experience, knowledge, and tools necessary to make the rental process easy and efficient for themselves and their tenants,” Ryan Coon, CEO of Avail, said in a statement.
Avail said it will use the new funding to grow its team and add to its community of landlords and tenants.
Avail isn't the only Chicago startup helping landlords with their rental properties. Chicago-based Livly, which is building a tech platform for property managers and renters, launched earlier this year with $10 million in funding.
