The apartment tours and tenant showings proptech will leverage the funds for national expansion, which will include hiring and new agent partners. To date, Showdigs has raised $10 million.
Showdigs, a mobile proptech that facilitates apartment tours and potential tenant showings, has closed on Seed II funding round of $7.4 million, according to an announcement Tuesday.
MetaProp, a leading venture capital company for real estate technology, led the round, which was supported by Vesta Ventures, Trilogy, Fortson VC and Tacoma Venture Group.
The company will leverage the funds for national expansion, which will include hiring and new agent partners. To date, Showdigs has raised $10 million.
“Agents who download the app and register with Showdigs can be called upon to show potential tenants available rentals.,” according to a 2020 Inman review. “The hiring is done by local landlords or property management companies who may not have time to show a unit.”
Using a mobile device’s built in geo-location hardware, the software notifies users to show a unit who are within a 10-minute drive of the subject property. They’re alerted by a landlord or property manager, also using the app, in need of an agent to meet prospective tenants.
Showdigs also provides applicant communication tools, links to applications, tour scheduling features and a list of unit and property requirements.
“I found myself continually frustrated with the multitude of crucial gaps throughout the process of listing to leasing a property,” said Kobi Bensimon, Founder & CEO of Showdigs, in the release. “Since 2018, we have been dedicated to building the tech that modernizes the entire rental turnover process.”
Investment in technology to empower the rental property industry continues to flourish, largely as a result of immense growth in leasing as a now multi-year home-price surge has limited the number of qualified buyers.
New software products continue to emerge, from CRM solutions for rental agents and tenant lead trackers to small landlord management apps and fully digitized applicant screening, among other innovations.
Showdigs itself has grown significantly in the last two years, blossoming into a fully-featured Software-as-a-Service (SaaS) platform serving clients in Seattle, Denver, Portland, and California’s Bay Area.
Aaron Block, Co-Founder and Managing Partner at MetaProp, will become a board member at Showdigs. He said the company’s growth made it easy to lead the Seed II round.
“The incredible year-over-year growth they’ve achieved with limited resources made our investment a straightforward decision,” he said. “We’re excited to see their growth in 2022.”
Showdigs was founded in 2018 by propTech veteran Bensimon, who sold ActiveBuilding to RealPage in 2013.