Peek, a virtual leasing platform that helps property managers and owners accelerate the leasing process and reduce vacancy loss, announced that it has raised $5 million in Series A funding. Moneta Ventures led the round, which also included Timber Grove Ventures and other existing investors.
What Peek does: Peek transforms the apartment rental experience by enabling prospective renters to tour and lease units online with the same ease as shopping on an e-commerce platform. And by automating the leasing process – including unit-level 3D tours, self-guided tours, and in-depth data and analytics – Peek helps multifamily operators lease faster, driving lower vacancy loss and increasing property income.
Peek was already driven faster leasing and increased operating revenue for hundreds of thousands of multifamily units across the U.S., such as national portfolios and high-growth regional operators. Property owners and managers using Peek’s platform report up to 30% fewer vacant days, 3 times more prospect tours compared to legacy 3D tour platforms and increased visibility into leasing performance.
The company also revealed two key additions to its board of directors: Jeff Olyniec, Partner at Moneta Ventures, and Luke Morris, Co-Founder at CREXI. And these strategic appointments bring decades of experience in proptech, venture capital, and scaling high-growth technology companies.
What the funding will be used for: The company plans to use the funding to expand its go-to-market efforts, grow its engineering and customer success teams, and enhance integrations with leading property management and marketing platforms.
KEY QUOTES:
“We’re excited to partner with the Moneta Ventures team to continue scaling Peek. As renters increasingly expect a digital-first experience and operators look for tools to boost operating performance and data to power business critical decisions, we see a massive opportunity to reimagine leasing end-to-end.”
“Both Jeff and Luke bring incredible industry knowledge and operational expertise that will be invaluable as we work to make Peek the industry standard for virtual leasing.”
Austin Lo, CEO and Founder of Peek
“Peek is modernizing an industry that has lagged behind in digital transformation. The Peek team has demonstrated tremendous revenue growth and capital efficiency to date, and we believe their platform delivers not only a better experience for renters, but clear and measurable ROI for operators.”
Jeff Olyniec, Partner at Moneta Ventures
“We’ve seen our LPs and multifamily partners prioritizing efficiency and a better renter experience, and we’re proud to continue backing a clear industry leader.”
Jeff Safferman, Partner at Timber Grove Venturesx
