Innago secures $4 million in funding for its property management software business
Innago is pleased to announce a new $4 million in a financing led by Allison Wood Ventures. This next round of funding further strengthens the partnership between the innovative real estate technology company and the venture capital firm.
Growing rapidly, Innago has transformed the rental process for landlords, turning tedious tasks into simple, automated ones. Among other accolades, the industry-leading software was named #1 best property management software in terms of ease of use, and overall rating by G2. Thanks to their ease of use and free property management softwarecompany founders Dave Spooner and Yasir Drabu have continued to redefine what it means to be an owner.
The latest round of funding brings Allison Wood Venture’s Innago’s full support for $7.7 million over the past five years, a clear indicator that the CEO Allison Wood really believes in the young technology company. In addition to the most recent investment, Allison Wood Ventures has invested $1.2 million in 2017 and $2.5 million in 2020.
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“I’ve been impressed with Dave and Yasir at every turn over the past five years,” Wood said. “Not only did they create this revolutionary software and make it available to everyone, but they worked to really improve the lives of their users. I’m so excited to see them continue to grow and I’m grateful to be a part of this next step.
Spooner and Drabu launched Innago in 2017 after changing pricing models, user interfaces and other important components of what makes a property management software valuable to landlords and their tenants. Not only does Innago allow landlords to build apps, screen tenants, sign leases, collect rent, manage work orders, organize finances, and communicate with tenants, it also provides a world-class customer service that gives users peace of mind.
Innago is, in a word, simple. Unlike other rental management software and websites, it only provides what is needed and removes often redundant features that drive up costs and slow processing. Last year, Innago launched a proprietary app which allows owners to track applications, maintenance requests, payments and more from a smartphone.
“We are confident that at this point we have the best product, the best marketing and the best customer support of any similar company on the market,” Spooner said. “As an owner now myself, I couldn’t manage my properties without the ease that our service provides. We know we’re poised to continue to grow and improve, and we’re so grateful to Allison Wood Ventures for helping to make that a reality.
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