Avail, a Chicago startup that makes software for landlords, just landed more funding as it looks to bring new features to its platform.
The startup announced Wednesday that it closed a $4.2 million Series A round led by St. Louis-based Cultivation Capital, the VC firm which also led Avail’s previous round raised last year. This newest round brings Avail’s total funding to $9.7 million, the company said.
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 said it is seeing significant growth amid the pandemic as more landlords look for ways to provide contactless rent payments, with more than 600,000 landlords and renters now using its platform.
“Our mission is to create a community of responsible landlords and trustworthy renters,” said Avail CEO Ryan Coon in a statement. “This investment brings us closer to delivering a better renting experience for the 53 million DIY landlords and their renters nationwide.”
The new funding will be used create more features and integrations for the Avail platform around insurance, banking and utilities. The startup currently employs 28 people.
“We’re excited to continue partnering with the team at Avail to improve the entire rental process,” said Cliff Holekamp, Cultivation Capital’s co-founder and managing partner, in a statement. “Avail has navigated the pandemic environment to be in an even stronger position than before.”
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 last year and has raised $18 million to date.
