KC proptech startup Simplifyy gets $5M Series A boost toward expansion plans; next up: DFW

A Kansas City startup vying to replace traditional property management is rapidly expanding its services into new markets thanks to a multi-million dollar Series A round, CEO Jake Lisby announced Wednesday.

Led by UnitLeader, a San Diego-based venture capital group, the $5 million round comes after Simplifyy co-founders Lisby and Paul Worcester spent nearly three years building the software and beta testing on their own properties, they said. (The company officially launched in October 2019, fueled by $4.75 million in investments from the founding team.)

Simplifyy did not immediately disclose the financial details of the round announced Wednesday, though a Crunchbase report linked to the proptech startup’s website listed a $5 million Series A round at the end of 2020.

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Elevator pitch: “Carvana for property management,” Simplifyy is the first tech-enabled multifamily property management company — we help owners get peace of mind with more money and better data. Simplifyy’s software handles 100 percent of what it takes to operate your properties, making multifamily operations simple.

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“The potential to change the way multifamily properties are managed is significant,” said Dana Zeff, chief disrupter at UnitLeader. “Simplifyy’s software integrates all functions of property management, providing a massive shift in the way multifamily properties will be managed in the future. We are excited to be a part of an organization that provides property owners a solution that is more effective, more efficient and more transparent than anything else on the market today.”

Simplifyy already manages properties in Kansas City and Indianapolis — announced just last week — and is expanding to the Dallas-Fort Worth market area, the startup said. Projected growth in 2021 includes entering Cincinnati, St. Louis, Phoenix and Columbia, S.C., along with other highly active multifamily markets.

The UnitLeader-led Series A round allows the company to keep pushing forward, Worcester said.

“The relationship with an experienced and strategically aligned partner such as UnitLeader will allow us to continue to expand and invest in further development of our technology and build resources in new markets,” he said.

For property owners — who see lower operating costs with Simplifyy’s platform — it’s an easy sell based on erasing pain points, the co-founders said.

Simplifyy integrates smart home tech and provides line-of-sight to financials, maintenance, resident activity and more through an owner’s app, according to the company, which touts proven digital marketing methods, 24/7 self-tours for residents and a 24/7 resident concierge team that help residents find homes and help owners maintain high levels of occupancy.

“Most properties have been managed using multiple software programs that aren’t integrated, which creates inaccuracies and inefficiencies,” said Lisby. “We’ve achieved our very specific goal of developing software for the totality of managing operations. And, because the software is run by our team of multifamily industry veterans, we provide not only turnkey management, but best-in-class resident service.”