A Cincinnati-based real estate software firm has landed millions in new capital.
Innago, which caters to small and midsized property managers, announced this week a $4 million capital raise led by Allison Wood Ventures. The Houston-based venture capital firm has invested in Innago twice before, $1.2 million in 2017 and $2.5 million in 2020.
Innago, which launched in 2017, currently serves more than 2,000 landlords and property managers and tens of thousands of tenants. Innago's technology streamlines a variety of operations for landlords, from listing properties and screening tenants to online rent collection and maintenance requests.
"We are confident that, at this point, we have the best product, the best marketing and the best customer support of any similar company on the market," Dave Spooner, Innago's co-founder and CEO, said in a statement. "As a landlord now myself, I couldn't manage my properties without the ease our service provides. We know we are poised to continue to grow and improve, and we are so grateful to Allison Wood Ventures for helping to make that a reality."
Innago's real estate focus makes it part of a growing sector within Cincinnati's startup community. Companies, including Payload, HomeShake and Akru, are among the region's most-watched startups.
