ATLANTA, April 24, 2019 /PRNewswire/ -- InfoTycoon, the multifamily industry's leading inspections and asset management platform, has raised $5 million in seed funding to make major platform improvements and expand into new housing markets. The company also announced that noted AEC and CRE tech expert, KP Reddy, Founder of Shadow Ventures, will join InfoTycoon as Executive Chairman and interim-CEO.
Led by strategic customers and leaders in the multifamily industry, the seed funding will allow the company to rebuild the entire InfoTycoon platform, a powerful tool for multifamily owners and operators to use asset data to increase NOI, ROI and portfolio value, on a modern cloud stack for top-of-line reliability and extensibility. New product features will be rolled out over the coming months. The company also plans to expand into affordable housing pre-REAC inspections and the student housing market with tailored new tools.
"I am thrilled to continue on my relationship with InfoTycoon, now through the Executive Chairman and interim-CEO post," said KP Reddy. "We are incredibly excited about the latest funding round, and plan to use some of our seed funding to hire aggressively in customer success and sales roles. We're confident that InfoTycoon will continue to grow and attract new clients and investors."
KP Reddy, has over 25 years of continued success as a technologist, investor, entrepreneur and thought leader. Mr. Reddy also currently serves as Founder and CEO of Shadow Ventures, a venture capital firm dedicated to investing in startups in the underserved AEC and CRE tech markets.
InfoTycoon will participate in Shadow Ventures' 2019 Shadow Summit on September 17 and 18 in Atlanta. The event will offer a chance for industry leaders to engage with startups, market leaders and tech solution enterprises that are redefining the built environment.
InfoTycoon is the multifamily leader in inspections and asset management solutions. Designed for the full asset management lifecycle, our powerful platform is now used by nearly 50- percent of the NMHC Top 50 including 3 of the 5 largest managers. InfoTycoon is the only software company to receive industry awards from both NMHC and MFE. We maintain an unwavering commitment to serve our clients and provide the industry's best inspection and asset management solutions. Customers include Greystar, Morgan Properties, Cortland, United Apartment Group, and many more.
Please visit https://infotycoon.com/ for more information.
About Shadow Ventures
Shadow Ventures is a venture capital firm focused on investing in startups in underserved markets where strategic capital is scarce. Our process and ecosystem are driven by both experience and technology to provide best-in-market returns for our investors and unparalleled opportunities for our companies.
Please visit https://shadow.vc/ for more information.