Property management system ResMan has netted a $36m investment from Mainsail Partners.
Texas-based ResMan is a property management solution which helps an owner through a variety of offerings including budgeting, reporting, analytics, maintenance and general accounting, among others. The platform also offers a simple leasing option, allowing property managers to list their assets online and collect digital payments.
The solution not only helps with management but also compliance. ResMan ensures the regulatory demands for policies including HUD and Income Housing Tax Credit are met. Renters can also benefit from the platform, by improving their credit score through reports on their on-time rent payments.
This new equity line will be used by the company to increase development of its products and invest into its solution. Capital will also be used by the company to further growth by expanding its sales and marketing teams.
Mainsail Partners co-founder and managing partner Gavin Turner said, “The company has not only developed an industry-leading software solution for multifamily real estate companies, but has enhanced its core operating platform with a robust set of fully integrated ancillary products and the industry’s best customer service.”
Following the investment, Wasatch Venture Group remains a strategic investor in the company.
Earlier this week, Mainsail Partners invested $42m into the treasury management solution GTreasury. The injection of equity will support GTreasury’s product development and international expansion plans.
This PropTech investment makes it one of the biggest in the sector, with the average deal size in the sector being around $10m.
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