Darwin Homes raises $15 million to expand its property management platform

Photo: Darwin

Investing in a rental property can seem daunting. It’s easy for new homeowners to get overwhelmed with a long to-do list in the name of maintenance. Austin-based startup Darwin Homes is on a mission to make things easier for prospective landlords and tenants with its property management software. The company partners its platform with local property managers to support its users through every step of the rental and management process.

After securing a $4 million seed round in 2019, the company received a further injection of capital to continue its growth. Darwin Homes announced on Tuesday that it has raised $15 million in a Series A led by Canvas Ventures.

The company uses Origin as management automation software. The software allows Darwin to act as a central hub for all things accounting, inspection, maintenance, repairs and more. When issues arise on-site, Darwin property managers are notified and dispatched immediately, according to the company.

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With its platform, Darwin Homes aims to enable its users to own and manage property anywhere in the United States. Last year, the startup tripled the number of homes under its management.

“Single-family rentals are among the most attractive yet untapped asset classes in the United States today,” Ryan Broderick, co-founder and CEO of Darwin Homes, said in a statement. “But, until now, the management of these rental properties could be atrocious – landlords [are] struggling to find reliable and professional local property managers in a highly fragmented area. »

Broderick and his co-founder Zachary Kinloch got their start as the first leaders of DoorDash. It was there that the two first learned about the process of marrying proprietary software with local operations.

“We are applying our proven success in building local logistics infrastructure to create a one-stop-shop where anyone can buy and manage these properties with confidence and ease,” continued Broderick.

Darwin Homes plans to use the new funding to explore new markets. The company has its sights set on Florida, Ohio, Tennessee, Colorado and North Carolina.

As the company continues to grow, Darwin will remain on the lookout for dozens of new property managers to join its remote team in cities across the country.

“As in many markets, technology is breaking down age-old barriers to access — and opening up many opportunities for people to create financial freedom and flexibility that weren’t there before,” Broderick and Kinloch wrote in an article. of blogging. “We are creating a world where everyone can have real estate in their portfolio.”

Darwin Homes has raised $19 million in funding to date. Other investors Camber Creek, Khosla Ventures and Wave Capital participated in the round, among others.

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