The NMHC predicts about 20% of multifamily tenants may delay rent payments. By using AI and automation, Colleen AI helps property managers decrease rent defaults by over 30%. They handle all collections throughout the resident journey. With an 80% time saving for property teams, Colleen enhances operational efficiency and potentially saves multifamily businesses millions in lost payments.
“Helping residents stay current with their rent payments, while ensuring that their apartment communities are operating at peak efficiency, is top of mind for our operators,” - Adam Demuyakor, Founder and Managing Partner at Wilshire Lane Capital.
Funding led by: Wilshire Lane Capital
Participation from: Skybox Capital
Total Funding Amount: $3.5M
Customers include: Yardi, RealPage, Entrata, RentManager, and ResMan.
Funds Use: To scale its go-to-market organization and accelerate investments in product, engineering, and data science.
About: Colleen is optimizing payment collections for multifamily real estate business.