SuiteSpot, a real estate tech company headquartered in Toronto, pulled in a round of Series A funding spearheaded by investor RET Ventures. The company offers multifamily homeowners a centralized platform for managing their maintenance and capital operations.
“In today’s market, multifamily owners are constantly seeking ways to improve their net operating income, and we believe centralization with seamless integration of systems and data is key to driving operational efficiency,” Elik Jaeger, SuiteSpot’s CEO, said in a statement. “With SuiteSpot, we’re centralizing and standardizing every aspect of these projects, empowering owners and operators to reduce costs and enhance asset performance through actionable property data.”
The company’s solution is currently in use across 500,000 rental units. SuiteSpot has received reports of significant yearly return on investment from users, including reduced apartment turn times and the expedited completion of work orders.
With its fresh capital, SuiteSpot plans to fuel product development and adoption, enabling it to further streamline management workflows and improve its customers’ productivity. It will also invest in growing its go-to-market and support teams as it rolls out its technology platform to more users within the multifamily market.
