Apartment rental startup Beat just announced that it has raised $ 5 million in seed funding.
The round was jointly chaired by Complice and Boston Seed. According to the press release, Hippo co-founder Eyal Navon also took part.
“With industries rapidly moving to self-service, leasing remains embroiled in a tedious process that doesn’t make sense to today’s tenants who want a level of convenience, speed, and transparency,” said Ryan Moore, founder of Accomplice, in of publication.
Not to be confused with real estate home swapping startup Knock, which is based in New York and aims to simplify the rental process for both landlords and tenants. Landlords can rent out their apartments faster and more efficiently using the startup’s app, which has AI bots, a self-touring function, big data machine learning and cybersecurity.
The self-inspection feature is a crucial element of the Knock model as it allows potential tenants to view the properties in their spare time. According to the publication, it only takes an average of 16 hours in the app for a request to become a personal visit.
“Knock helps landlords save resources and reduce days on the market by being the first to combine the convenience of self-viewing with a fully integrated leasing solution. This smooth path from looking for an apartment to viewing and signing a lease is the future of residential real estate, ”added Moore.
According to the press release, Knock’s funds will be used to expand its global footprint and New York City portfolio.
“Covid has accelerated the demand for efficient and cost-effective leasing processes,” said Erez Cohen, co-founder and CEO of Knock, in the announcement. “Knock took this opportunity to build a range of end-to-end leasing solutions.
“We’re very proud and excited to see potential customers get off an Uber in their desired neighborhood, view 30 apartments at any time, and have access to brokers and AI-enabled support to answer questions on the go, and within hours sign a rental agreement. Based on the idea that efficiency is the key and transparency, we believe we have developed the interface that will be the new way people rent apartments. “
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