An estimated $182 billion is spent every year on home maintenance and emergency repairs, and one Chicago startup wants to help streamline the process that can often be cumbersome, confusing and expensive for renters and owners.
Mezo, a technology platform for property maintenance, announced a $6 million seed investment this week co-led by Chicago Ventures and Building Ventures, with participation from The 81 Collection and other angels.
Founded in 2020 as a one-trip resolution source for home maintenance needs, the company was launched as a telehealth-inspired model for property maintenance, CEO Mike Travalini said.
The technology platform helps institutional owners and property managers better manage the maintenance side of their business, according to Travalini. The company co-founder has extensive real estate experience including working for Bay Area startup Waypoint Homes, and helping to set up a Chicago office for the company, where he bought single-family homes before the company went public in 2016.
“Either as a renter or owner, you’ve probably had a tough maintenance experience at some point in your past where you’re trying to get help when something breaks,” he told Chicago Inno. “What we’re doing is meeting the resident at that moment with an AI-driven virtual assistant.”
To date the platform has processed more than 25,000 work orders and has seen a 30% reduction in time to dispatch a technician and a 25% reduction, on average, in overall resolution time.
Mezo’s platform helps identify maintenance issues and answer clarifying questions from residents who can send photos or videos so that the right technician is dispatched. Built by trade experts, the platform decides whether a job requires a specialized skillset and prioritizes emergencies.
Mezo currently serves more than 70,000 residents of single-family rental, multifamily rental and student housing properties owned and operated by Mynd Management, Tricap Residential, WFI Investments, Darwin Homes and others.
