Property technology startup :Different has raised $7.1 million in a Series A round from several venture capitalists in a bid to help grow its team, invest in technology and expand to other cities including Perth and Canberra.
The funding was led by PieLAB, followed by AirTree, Spring Capital and the Warburton Group.
The company, founded in 2017 by Mina Radhakrishnan and Ruwin Perera focuses on providing a better experience for property owners and renters.
According to :Different it combines expert property managers with technology that automates the everyday repetitive tasks at a flat fee of $100 a month.
The property startup has offices in Sydney, Melbourne and Brisbane with a staff of 50 and more than $1 billion worth of properties under its management.
Both founders have worked in Silicon Valley roles with Radhakrishnan working at both Uber and Google as a product head and Perera at Goldman Sachs and Softbank.
Mina Radhakrishnan, co-founder of :Different said, “We want to remove the common pain points property owners and renters face, which can only be done with people who care, and technology that streamlines processes.
“Owners today deserve a fairly priced service that is representative of the work that is done. Likewise, renters shouldn’t be waiting weeks for a leaky tap or broken stove to be addressed.
“Our mission is to address these challenges head on by providing a fair and transparent service to be the ultimate assistant to the home,” she adds.
Ruwin Perera, co-founder of :Different said, “Raising this latest round of funding, especially during the COVID-19 pandemic, is testament to not only the strength of our team and viability of our business model but a broader need for a better property management solution for owners and tenants in Australia.”
Perera noted AirTree and PieLAB have been instrumental in their growth, not only providing funds to invest in product and people but the strategic counsel, partner introductions and bigger picture insights that are critical for their long term success.
“Spring Capital and Warburton Group are strong additions to this mix, which will help us as we enter into this next phase of growth.”