A Chicago startup that makes software for landlords just got scooped up by Realtor.com.
Avail, which aims to help landlords more easily screen tenants, collect rent and manage maintenance requests, has been acquired by Move Inc., the parent company of Realtor.com. Avail will remain a standalone platform but will enable Realtor.com to further expand in the rental space.
Terms of the deal were not disclosed. The startup's 30-person team, including founders Ryan Coon and Laurence Jankelow, are joining Move. Move is a subsidiary of News Corp., the publicly traded media and publishing company led by the Murdoch family.
Founded in 2012, Avail has raised just under $10 million in VC funding, including a $4.2 million Series A round earlier this year led by St. Louis-based Cultivation Capital. Its other backers include M25 Group and Sandalphon Capital.
Avail also has a tenant-facing side that allows renters to apply for an apartment, sign a lease and pay rent online. The company works with more than 600,000 landlords and renters.
"This acquisition is a key part of our strategy to make finding a home easier and more rewarding," said Realtor.com CEO David Doctorow in a statement. "We believe that Avail is uniquely positioned to meet the needs of the DIY landlords and tenants in a large, growing and underserved market."
"This is a great outcome for our customers, our team, our investors and the Chicago tech community," Coon said in an email to Chicago Inno.
