FintechReal Estate

Multifamily tech company Livly launches with $10 million seed funding round

Company seeks to bring a "modern approach" to rentals

Tech-driven multifamily operations company Livly announced its official launch this week with the help of $10 million in capital raised during its seed funding round.

The investment round was led by Pritzker Group Venture Capital, Navitas Capital, and JLL Spark. The company also announced that an additional syndicate, including The Related Group, Golub & Company and CA Ventures, will be a part of its rollout plan.

Livly’s digital rental management platform seeks to digitally disrupt rental management by enabling property owners and managers to offer a custom, end-to-end rental experience platform to renters, according to the company. Offerings on the platform include rental payments, a two-click option for renters’ insurance, real-time maintenance scheduling and more.

"Today's renters have high expectations for each of their digital interactions," said Alex Samoylovich, the founder and co-CEO of Livly. "From discovery and application, to move in and life in the building, every technology touchpoint produces a positive or negative outcome. We aim to bring joy back to the renter experience, while bringing lost and new revenue as well as a positive reputation back to property owners and managers.”

"Livly is creating a technology-driven model for multifamily in commercial real estate that activates dead spaces with new revenue streams and delights tenants and owners with premium, digital experiences," said Mihir Shah, co-CEO of JLL Spark. "We're thrilled to add Livly to our portfolio of proptech companies moving the industry forward."

Property managers can use Livly’s platform to monetize physical and digital transactions within a building while offering renters a one-stop, app-based digital experience, according to the company.

The company explained its offering, which can be integrated with multiple property management systems, was built on data and feedback it received from a two-year private beta it ran in Chicago’s multifamily rental market.

"Livly is a game changer for property owners and managers," said Matt Allen, EVP and chief operating officer of The Related Group. "Not only does Livly offer additional revenue streams to property managers, such as affiliate revenue from renter's insurance and credit card transactions, the company also helps properties gain new revenue from rethinking and transforming shared and dead space in their buildings into monetized spaces." 

Livly said it has launched an early-access program for additional building owners and management companies, adding that over the course of this year, it plans to roll out its software to its strategic partners nationally.

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