Landlord and Renter Platform, Avail, Raises $4.2 Million Series A

Chicago-based Avail recently closed a $4.2 million Series A round of funding to accelerate its position as the leading management and rent payments platform for DIY landlords and renters. The round was led by St. Louis-based Cultivation Capital.

The company is experiencing unprecedented growth as DIY landlords move their rental businesses online, especially for contactless monthly rent payments. “We’re excited to continue partnering with the team at Avail to improve the entire rental process,” said Cliff Holekamp, Cultivation Capital Cofounder and Managing Partner. “Avail has navigated the pandemic environment to be in an even stronger position than before. Their landlord and tenant tools are filling vacancies, collecting rents, and reducing the hassles and uncertainties involved in the rental market.”

“Avail landlords typically own and manage a few rentals, often in addition to a full-time job. We know how valuable their time is, so we’re proud of being able to automate the rental process for them,” said Avail CEO Ryan Coon. “Equally important is improving the experience for the renters living in these units. They deserve best-in-class technology and service. We’re excited to make their lives easier with things like online payments that automatically report to the credit bureaus.”

Since March, the company has used its rent payments data to publish industry-leading reports, summarizing how the COVID-19 pandemic has impacted individual landlords and their renters. These reports have been used by lawmakers at the local, state, and federal levels as they consider different rent relief policies.

The company will use the new funding to further invest in expanding the core platform bringing new functionality to landlords and renters. The funding will also allow the company to grow its network of integrations with companies that offer adjacent products and services, like insurance, banking, and utilities.

“Our mission is to create a community of responsible landlords and trustworthy renters,” said Coon. “This investment brings us closer to delivering a better renting experience for the 53 million DIY landlords and their renters nationwide.”

More than 600,000 landlords and renters use Avail. The company has 28 employees and has raised $9.7 million in funding to date.


Press contact:
press@avail.co
avail.co/press

Avail
900 N Franklin Street, Suite 404
Chicago, IL 60610

About Avail: Chicago-based real estate startup that enables landlords to advertise rental units, screen tenants, request background, credit, and eviction checks, create and sign lease agreements, and collect rent — all online.

About Cultivation Capital: Based in St. Louis, with offices in Chicago, Philadelphia and Los Angeles, Cultivation Capital manages a family of venture capital funds investing in software, life sciences, and agriculture technologies. Cultivation Capital is regularly recognized as being one of the most active early-stage investors in the United States.

This release was published on openPR.