Announcing our $5M raise from Aurum Proptech
It’s an exciting day for us at TheHouseMonk – We have officially announced our $5M fundraise from Aurum Proptech to help fuel our growth plans for the next few years! After many discussions between our teams, we are very excited about working with investors who have high conviction in the prop tech industry, and about TheHouseMonk’s vision to transform real estate through technology.
What are we going to use the money for?
We are primarily going to use the money for building a better product for the rental real estate industry. Coliving companies, student housing operators, property managers and landlords are deeply underserved by technology today and TheHouseMonk aims to build the de facto technology platform for this industry. Some of the specific areas of product development would include –
- Upgrade of our engineering systems as we scale both users and usage across the platform
- Build integrations with any 3rd party products so we can enable customers to work with TheHouseMonk, whilst continuing to use other products they like and trust
- Build deep capabilities that help customers take actionable intelligence to optimize and grow their business. This includes AI/ML capabilities, better reporting and dashboarding capabilities, augmented intelligence, and much more.
- Localize our product to better suit our customers, who are spread across 15 different countries today
- Enhanced user experience across our web and mobile ecosystems
While product development is a big area of focus, business development is equally important for us. We are setting up our teams to help market our products, sign and retain more customers. While Asia continues to be a strong focus for our business, we are making in-roads into the US, UK and EU as well. We already have early customers in these regions and are excited to serve more customers in the near future. The capital we have raised will help us achieve this.
As you can imagine, all of this would need us to build a large team. So if you are excited by what you have read and are looking to work with TheHouseMonk, drop an email to firstname.lastname@example.org with a short note on what excites you about our company and we will come back to you
Why work with Aurum Proptech?
Through the last few months, we met and spoke to many investors who were interested in working with TheHouseMonk, but we eventually decided to work with Aurum Proptech, a company led by Ashish Deora, a serial entrepreneur.
Aurum Proptech Ltd is a publicly listed entity in India. They have a clear vision of working closely with proptech companies and help them with strategy, capital and execution. We loved their deep insights into the proptech industry, swiftness in decision making and entrepreneurial mindset. Above all, there were 2 key points about Aurum Proptech which Bala and I found very compelling –
- Playing the long game: Ashish and team are focussed on building long term solutions, and not short term fixes
- Shooting for larger outcomes: Throughout the entire process, they have pushed both the founders to think about how we can build a much larger business than what we had initially thought of
We are very excited and convinced in our decision to partner with them as we continue building this business.
A small note to our customers, team members and well wishers
We would like to thank our customers for trusting us with their business (and sticking by us during tough times), our team members for their hard work and loyalty, and our partners and well-wishers for always being in our corner. We hope to reward you all by building the best company this industry has seen.
Enough talk. Now back to work
Cofounders of TheHouseMonk