Livly Inc. Raises $8 Million in Fundraising to Transform Property Management and Resident Communications
New funding led by Geolo Capital, OCA Ventures and Founder Equity
Apr 02, 2020, 10:00 ET
CHICAGO, April 2, 2020 /PRNewswire/ -- Livly, a leading provider of modern digital applications for apartment buildings nationwide, is announcing a new fundraising of more than $8 million dollars to fuel its future growth. The investment round includes private equity group Geolo Capital, venture capital groups OCA Ventures and Founder Equity, and many additional strategic investors from across the real estate industry.
The Chicago-based property technology startup provides a simple integrated platform of mobile and web applications for both multifamily community residents and property managers. CEO Brian Duggan says that the new capital raise will accelerate Livly's growth to new domestic markets and development of innovative tech solutions to improve resident experience and streamline property management. "We're very fortunate to have such strong support for our vision from both institutional and strategic investors, who position Livly as one of the best capitalized startups in this burgeoning industry," says Duggan. "This investment round is a vote of confidence from the private markets in our unique ability to create substantial value for our clients in the multifamily industry."
Livly's new apartment technology represents the most modern and user-friendly alternative to the existing legacy industry offerings. Before Livly, residents and property staff required multiple disjointed software solutions for basic tasks such as resident move-in, general communications, package management, rent payments, and amenity reservations. Traditional building apps, which consolidate some of these services, provide antiquated experiences that do not meet today's technology standards.
Livly offers a no-cost digital amenity that significantly improves the resident experience through an intuitive mobile app and online community hub. In just a few clicks, residents can seamlessly handle tasks such as move-in onboarding, setting up renters' insurance, requesting maintenance, receiving package notifications, and much more. Livly also enables property managers to cultivate resident communities through a variety of dynamic communication and social engagement tools, including a unique new digital community feed that serves as a private social network for apartments. Geolo Capital Partner, Tom Gottlieb said, "Livly is the must-have platform to compete in multifamily and represents a giant leap forward in proptech and resident engagement." OCA Ventures Partner Kevin McQuillan echoed Mt. Gottlieb's sentiments. Further, Kevin McQuillan said, "The Livly team is producing the first industry applications that can meaningfully move the needle on resident retention."
Livly selected its investment partners to provide added value to the startup and support its national growth. Among many other benefits, Geolo Capital lends deep expertise in delivering hospitality-level products to multifamily, OCA Ventures offers vast experience in scaling successful technology companies, and Founder Equity brings advanced analytics to Livly's digital product suite. The remainder of the investors provide additional distribution channels for Livly's technology.
Today, Livly is active in more than ten U.S. cities, and has partnered with some of the most prestigious organizations in multifamily real estate, including The Related Group, Lincoln Property Company, and Golub & Company.
About Livly, Inc.
Livly, Inc. is revolutionizing apartment communities by developing innovative digital applications for the multifamily industry. Livly's no-cost digital applications offer a fully integrated one-stop-shop for property management tasks and resident engagement. For more information please visit: www.livly.io
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