Engrain, the world leader in interactive mapping technology and data visualization software for the built environment, today announced a $12 million Series A investment round to support platform advancements throughout the company’s range of technological offerings. RET Ventures, an industry-backed startup fund focused on technological solutions for the multifamily and single-family rental industries, led the round.
TouchTour®, Asset Intelligence, and SightMap®, an interactive, content-rich property map that embeds easily into property websites to allow renters to select their precise unit, are among the company’s product lines. Engrain’s Unit Map® technology is used in all products, which is an open map API that allows any software application to use property maps to display unit-level data.
With this funding, Engrain plans to engage in a variety of platform enhancements, including an innovative marketplace with automated license management processes and the sharing of property maps with vendors. Engrain will also offer pathfinding features for visitors to traverse the most efficient paths throughout the property and neighboring community – a significant tool for prospective residents, delivery employees, contractors and maintenance staff.
Since Engrain’s establishment in 2009, the company’s proptech software and touchscreen touring solutions have been deployed by 8,000 multifamily and 3,000 self storage properties, totalling over 5 million units.
Engrain, which is already a force in the multifamily industry, is used by 75% of the country’s 50 largest apartment owners.
Engrain will also update license provisioning processes on its SightMap® software to provide users more control over license sharing and content. It will create a reseller program, leveraging its network of over 200 website development partners, in the coming months, as well as a more efficient approach to transfer licenses, supporting a smoother transition when a property is acquired or sold. SightMap® production improvements will increase productivity, reducing the time it takes to publish a new map from four weeks to two.
RET Ventures, a major real estate technology venture capital firm, has an investment strategy driven by its strategic investors, which include 40+ leading real estate organizations that own and operate nearly 2.5 million rental units.
Engrain’s mission is to fundamentally transform the way people find, lease and manage property. A recognized leader in next-generation interactive technology and map-based data visualization software, Engrain’s advanced integrations and technical flexibility offer solutions for any real-estate technology stack. Clients use Engrain products to engage prospects and residents, analyze and improve operating performance and increase NOI through operational efficiency. The company is headquartered in Denver, Colorado.
