Proptech raises $5 Million in Series-B Funding
Tour24 is a service for the multifamily real estate sector, allowing property owners and operators to streamline their leasing processes through innovative, self-guided touring experiences. Designed to meet the modern renter’s demand for flexibility, it lets prospective tenants schedule and explore apartment communities on their own time, even outside regular office hours, including evenings, weekends, and holidays.
The platform enhances the apartment touring experience by allowing owners to provide curated, pre-recorded audio descriptions of key features such as luxury kitchens or state-of-the-art fitness centres. This customization ensures that prospects receive relevant insights about the property as they walk through, making it easier for them to envision their new home.
Using Bluetooth beacons strategically placed throughout the property, Tour24 tracks how long visitors spend in different rooms or amenities. This data allows multifamily owners and operators to assess the effectiveness of tours and tailor their follow-ups based on the prospect’s interests, helping to close deals faster.
Additionally, the company takes care of the logistics behind self-guided tours, offering features like ID verification and access control through smart locks or conventional keys. Its user-friendly platform recently introduced new functionalities like Face ID, fingerprint login, real-time “Tour Now” scheduling, and calendar integration, making it even more convenient for prospective renters. The app also simplifies the leasing process by allowing renters to apply for leases immediately after their tour, creating a seamless experience from tour to lease.
“While the COVID-19 pandemic created an immediate demand for self-guided touring solutions, appetite for platforms like Tour24 has remained strong, especially as recent economic conditions have compelled many multifamily owners to optimize operations and cut costs,” said Georgianna W. Oliver, founder and CEO.
“… we are dedicated to providing an elevated touring experience to prospective residents that acts like an agent while giving owners the tools they need to fill units faster and better utilize their onsite staff. We’re thrilled to work with a partner like RET Ventures, whose deep industry connections and expertise will enable us to enhance our technology further and deliver the best experience possible to owners and residents alike.”
Headquartered in Boston, the company currently operates in 525,000 units across 2,065 multifamily properties in the U.S., with clients including GID, Berkshire Residential Investments, Highmark, AMLI Residential, and LCOR. The platform integrates with top property management systems and other property technology solutions, such as Yardi, Entrata, RealPage, EliseAI, and Brivo, offering multifamily operators a seamless way to incorporate self-guided tours into their existing workflows.
“Especially as the industry continues to push for more centralized property operations, an increasing number of owners and operators are looking to implement self-touring technology across their portfolios,” said Christopher Yip, Partner at RET Ventures.
“Tour24 provides these professionals with an immediate return on investment by allowing them to expand their touring hours and offerings without increasing onsite staff or stretching it too thin. Several of our strategic investors are already utilizing the platform, and we look forward to supporting the company as it continues to refine its technology and expand its market reach.”
With the capital from its Series B, Tour24 will continue its product roadmap development and improvements to its user experience. The company will also be focusing on growing its team and continuing its expansion across the U.S. multifamily market.
Andrew Stanton Founder & Editor of 'PROPTECH-X' where his insights, connections, analysis and commentary on proptech and real estate are based on writing 1.3M words annually. Plus meeting 1,000 Proptech founders, critiquing 400 decks and having had 130 clients as CEO of 'PROPTECH-PR', a consultancy for Proptech founders seeking growth and exit strategies. He also acts as an advisory for major global real estate companies on sales, acquisitions, market positioning & operations. With 100K followers & readers, he is the 'Proptech Realestate Influencer.'
