SuiteSpot, a Toronto, Canada-based multifamily centralization software company, has closed Series A funding round.
Investors
The round was led by RET Ventures, with participation from UDR.
RET Ventures is a real estate technology venture capital firm focused on innovative investments in multifamily and single-family rental real estate. Partnering with over 50 strategic investors who manage over $600 billion in assets, RET backs some of the largest REITs and private developers overseeing around 3 million rental units.
SuiteSpot Use of Funds
With this funding, SuiteSpot will enhance product development to streamline workflows and boost customer productivity. The company plans to expand its go-to-market and support teams to broaden its reach in the multifamily market.
About SuiteSpot
Founded in 2017 by Elik Jaeger, SuiteSpot provides AI-powered multifamily centralization software designed to maximize performance through productivity. SuiteSpot centralizes multifamily maintenance and capital projects, helping to cut costs and increase operational efficiency. It integrates with existing property management systems to enhance operational efficiency, reduce costs, and improve asset performance. The company’s platform is utilized across over 500,000 rental units.
Funding Details
Company: SuiteSpot Inc.
Raised: Undisclosed
Round: Series A
Funding Date: October 2024
Lead Investor: RET Ventures
Additional Investor: UDR
Company Website: https://www.suitespottechnology.com/
Software Category: Multifamily Maintenance and Capital Management
Source: https://www.businesswire.com/news/home/20241010962189/en/