Avail is a Chicago-based end-to-end online platform company that helps DIY landlords and tenants simplify the rental process. Essentially Avail provides the tools, education, and support that landlords and tenants need to save money during the rental process.
Avail said that its revenue increased four-fold in the last 18 months. And during the same period, the company quadrupled the number of landlords and more than doubled the number of tenants using the online platform. To capitalize on this growth, Avail has also recently raised $2.5 million in funding led by St. Louis-based venture capital firm Cultivation Capital. Including this round, Avail has raised more than $5.4 million.
With this funding round, Avail is going to continue growing its community of landlords and tenants specifically by expanding existing resources and teams that focus on impact signups, demand generation, and platform growth.
“There are 8 million independent landlords leasing 24 million units across the U.S. and they lack the experience, knowledge, and tools necessary to make the rental process easy and efficient for themselves and their tenants,” said Ryan Coon, CEO of Avail. “This round will help us connect with even more landlords and their tenants so they can continue benefiting from our community.”
Through its online platform, Avail offers marketing, applicant screen, state- and city-specific lease agreements, payment processing, and maintenance request tracking for landlords. And for tenants, the platform provides an easy way to apply to rentals, sign leases, pay the rent, and submit maintenance requests.
“We’ve enjoyed being a part of the Avail success story from the very beginning and fully support their decision to raise funds strategically,” said Cliff Holekamp, General Partner at Cultivation Capital. “We are excited to be a part of the continued growth of Avail in the rental industry.”