Remarkably is raising more cash to meet early demand for its technology that helps apartment rental building owners, managers, investors, and developers with their marketing strategies.
The Seattle startup closed on $2 million of a larger $4.1 million round led by Wildcat Venture Partners with participation from PSL Ventures, the venture arm of Seattle startup studio Pioneer Square Labs.
Remarkably was the 13th company to spin out of PSL earlier this year. Its software analyzes data from internal and external sources to help their clients figure out where they should spend their marketing dollars and ultimately lease their buildings to capacity. The tech is infused with machine learning and automation that can provide more robust marketing-related recommendations.
In less than one quarter, Remarkably expanded to 14 markets with clients across all phases of the asset lifecycle. Customers are asking to add more and more buildings so they can run portfoilo-wide analytics with the software, said Remarkably CEO and co-founder Erina Malarkey.
“We wanted to raise a meaningful amount to enable us to really grow and expand both the team and the platform, to meet the most critical needs of our owners and managers — people looking for a drastically better way to manage and optimize their assets, but who up until now were coming up short with solutions in the market, other than human-driven, manual, and often error prone processes,” Malarkey told GeekWire.
Remarkably earns revenue on a per-building basis, using a traditional software-as-a-service business model.
The startup raised its initial investment earlier this year from VTS co-founder Brandon Weber and Cephas Partners Managing Partner Mollie Fadule, in addition to PSL Ventures.
Remarkably is one of several up-and-coming real estate startups in Seattle, which is also home to industry giants such as Zillow and Redfin. The 9-person company plans to have up to 20 employees this year.
Editor’s note: This story was updated to reflect the accurate dollar amount raised.