Real estate management app Mynd has raised $5.5m in funding from Canaan Partners.
The company’s mobile-focused platform allows real estate investors to receive performance data on properties and alerts for local market trends.
It also enables users to manage properties, review maintenance requests and approve expenses as they happen.
The funding coincides with the launch of Mynd’s service to investors in around the Bay area with rental properties of 50 units or fewer.
Founders Doug Brien and Colin Wiel previously co-founded property management company Waypoint Homes, which oversaw more than 17,000 properties.
The company says it will use the capital to expand its operations.
Canaan Partners’ venture partner Rich Boyle said, “Property management is a $55bn industry that’s overdue for a resurgence.”
“The team behind Mynd knows the industry well both from personal success in real estate investing and professional experience creating solutions that solve common property management pain points.”
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