Chicago-based Livly recently announced its launch as the creator of the operating system for physical spaces. And the company brought in $10 million of seed funding led by Pritzker Group Venture Capital, Navitas Capital, and JLL Spark. An additional syndicate — which includes The Related Group, Golub & Company, and CA Ventures — are also going to be part of the company’s rollout.
Currently, the property management environment is outdated. Property owners currently have to pay for third-party apps and other related services that renters use to simplify their lives. And property owners do not have a unified view of what is needed across their properties whether it is staff management or the organization of its service requests. Plus renters are getting frustrated with digital environments at the same time.
“Today’s renters have high expectations for each of their digital interactions,” said Livly founder and co-CEO Alex Samoylovich. “From discovery and application, to move in and life in the building, every technology touchpoint produces a positive or negative outcome. We aim to bring joy back to the renter experience, while bringing lost and new revenue as well as a positive reputation back to property owners and managers.”
Livly is going to unlock new revenue streams for property owners and managers by monetizing physical and digital transactions within a building and offering a one-stop seamless app-based digital experience for the renters.
“Livly is creating a technology-driven model for multifamily in commercial real estate that activates dead spaces with new revenue streams and delights tenants and owners with premium, digital experiences,” explained JLL Spark co-CEO Mihir Shah. “We’re thrilled to add Livly to our portfolio of proptech companies moving the industry forward.”
The company has been testing its product in beta over the last two years in Chicago. During this phase, feedback and real-world data were collected along the way.
“Livly is poised to disrupt the antiquated real estate environment found in every city today,” added Pritzker Group Venture Capital partner Gabe Greenbaum. “Livly’s founders built their careers in the real estate, development, technology and design industries, which brings property owner, manager and tenant-centric mindsets to the table. They identified the need for a radical, new approach and then built the technology that is going to radically change the industry.”
Photo Credit: Livly
Livly’s launch provides property owners with the ability to offer an end-to-end rental experience platform. And the platform enables property owners to customize unique digital experiences within a single application — which empowers owners to create a unified digital journey that handles their unique processes such as rental payment, a two-click option for renter’s insurance, real-time chat-based scheduling of maintenance, and in-unit package deliveries.
“Livly is a game changer for property owners and managers,” commented The Related Group EVP and COO Matt Allen. “Not only does Livly offer additional revenue streams to property managers, such as affiliate revenue from renter’s insurance and credit card transactions, the company also helps properties gain new revenue from rethinking and transforming shared and dead space in their buildings into monetized spaces.”
The platform can be integrated with multiple property management systems. And Livly is planning to roll out its software to its strategic partners nationally over the next few quarters. Plus the company launched an early-access program for additional building owners and management companies.