# Proper Technologies

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/proper-technologies

- Industry: Software
- Headquarters: San Francisco, US
- Website: www.proper.ai
- Total disclosed funding: $14M
- Latest round: Series A (Jul 14, 2021)
- Investors on record: 4

## About

Proper Technologies, Inc. is a technology-driven company specializing in providing automated accounting solutions tailored for property management and real estate development, enhancing operational efficiency and profitability.Founded in 2017 in San Francisco, US, Proper Technologies, Inc. focuses on automating accounting for property managers and real estate developers. The company has undergone no significant pivots and does not have subsidiaries. The founding team includes Charlie Hutchinson, Mark Rojas, Mike France, and Silas Dunham, with Mark Rojas serving as CEO. Proper Technologies raised USD 9.000 mn in Series A funding on July 14, 2021, led by QED Investors, with participation from Bling Capital, Expa, and MetaProp. This round marks the total amount raised by the company.Proper.ai specializes in providing comprehensive accounting services designed for property managers and real estate developers. Their offerings focus on automating financial operations, enhancing profitability, and streamlining processes through expertise in a wide range of property software solutions. Clients can manage complex asset classes, including co-ops, mobile homes, short-term rentals, single-family and multi-family residences, as well as commercial spaces. Proper.ai serves a diverse clientele, from small property managers to large organizations managing up to 50,000 doors or over 15,450,000 square feet of commercial space. Its solutions are primarily available in North America, focusing on urban markets where property management is essential for business operations.Proper.ai employs a subscription-based revenue model, charging clients a predictable and scalable fee based on the number of units managed or square footage. Clients utilize Proper.ai's services through month-to-month contracts, promoting flexibility and removing onboarding fees. This pricing strategy allows clients to achieve substantial savings on accounting costs while receiving specialized support. Revenue is generated through consistent B2B relationships with property management firms partnering with Proper.ai for efficient accounting solutions.Following the Series A funding of USD 9.000 mn raised on July 14, 2021, led by QED Investors, Proper Technologies, Inc. plans to accelerate the development of its automated accounting technology, create a new customer-facing platform, and hire strategic talent across all functions. The company is targeting expansion into additional urban markets across North America, with a commitment to enhancing its service offerings and operational capabilities.

## Funding rounds

- Series A, Jul 14, 2021, $9M — QED Investors, Expa, MetaProp, Bling Capital
- Seed, Aug 4, 2020, $4.8M — Expa, MetaProp, Bling Capital

## Investors

- Expa (https://capitalatlas.ai/funds/expa) — Seed, Series A
- MetaProp (https://capitalatlas.ai/funds/metaprop) — Seed, Series A
- Bling Capital (https://capitalatlas.ai/funds/bling-capital) — Seed, Series A
- QED Investors (https://capitalatlas.ai/funds/qed-investors) — Series A