# Lessen

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/lessen

- Industry: Business Support Services
- Headquarters: Scottsdale, US
- Website: www.lessen.com
- Total disclosed funding: $161M
- Latest round: Series B (Nov 30, 2021)
- Investors on record: 4

## About

Lessen Inc. is a US-based company that specializes in providing streamlined property maintenance solutions, facilitating effective management of repairs and maintenance across various sectors for both commercial and residential properties.Lessen Inc. was founded in 2019 and operates out of Scottsdale, US, focusing on real estate property maintenance solutions. The company has engaged in 7 notable deals, with the most recent funding round being a Series B in January 2023 led by Fifth Wall Ventures, securing USD 120.35 mn and bringing the total amount raised to USD 120.35 mn. The company is founded and led by Jay Mckee, who has extensive experience in the industry.Lessen specializes in comprehensive real estate property maintenance solutions designed to streamline the management of property repairs and maintenance across diverse sectors. Their core offerings include integrated facilities management, encompassing work orders, asset life cycles, and capital projects for both commercial and residential properties. By leveraging advanced technology and a nationwide network of over 30,000 qualified vendors, Lessen aims to improve operational efficiency, reduce maintenance costs, and enhance customer satisfaction, evidenced by a 4.8 out of 5 satisfaction rating. The company serves a broad client base that includes commercial occupiers, property owners, and residential managers in over 100 metro areas across the United States, addressing the complexities of managing single-family and multifamily properties.Lessen's revenue structure is primarily driven by business-to-business transactions, focusing on partnerships with commercial occupiers and residential property managers. Their services are often arranged through subscription-based models or contractual agreements, facilitating ongoing maintenance and repair services. The company emphasizes its flagship offerings, including One by Lessen™, Lessen360™, and Lessen Copilot, which provide clients with tailored solutions for streamlined property management. Revenue generation occurs through the completion of work orders, capital projects, and ongoing support services, enabling Lessen to maintain a robust revenue stream by ensuring consistent engagement with their diverse client base.In January 2023, Brookside Equity Partners acquired a stake in Lessen in a share swap agreement, the financial terms of which were undisclosed. Lessen plans to leverage its recent funding to support the development of new products that enhance their property management services. The company is also exploring expansion into new geographic regions, specifically targeting additional metro areas in the United States, with an aim to broaden their market reach by the end of 2024.

## Funding rounds

- Series B, Nov 30, 2021, $120M — General Catalyst Partners, Khosla Ventures, Navitas Capital, Fifth Wall Ventures
- Series A, Jun 24, 2021, $39M — General Catalyst Partners, Khosla Ventures, Navitas Capital, Fifth Wall Ventures
- Seed, Dec 20, 2019, $1.6M — General Catalyst Partners, Khosla Ventures, Navitas Capital

## Investors

- General Catalyst Partners (https://capitalatlas.ai/funds/general-catalyst-partners) — Seed, Series A, Series B
- Khosla Ventures (https://capitalatlas.ai/funds/khosla-ventures) — Seed, Series A, Series B
- Navitas Capital — Seed, Series A, Series B
- Fifth Wall Ventures (https://capitalatlas.ai/funds/fifth-wall-ventures) — Series A, Series B