What is Tour24?
Tour24 operates as an on-demand platform designed to automate the entire process of apartment tours. Emerging from the founders of Package Concierge, a Gibraltar Industries Inc. company known for its automated package locker systems, Tour24 leverages transformative technology. This platform integrates with smart-home providers to facilitate self-guided property tours, effectively extending the capabilities of leasing teams. By enabling prospective residents to tour apartments on their own schedules, Tour24 significantly reduces the time required to find a new home and drives increased lease conversions for properties.
How much funding has Tour24 raised?
Tour24 has raised a total of $16.7M across 3 funding rounds:
Debt
$137K
Series A
$5.6M
Series A
$11M
Debt (2021): $137K with participation from PPP
Series A (2022): $5.6M led by LAB Ventures and Middleburg Communities
Series A (2022): $11M supported by 29th Street Capital, Middleburg Communities, and LAB Ventures
Key Investors in Tour24
29th Street Capital
29th Street Capital is a real estate investment and advisory firm focused on value-added strategies, typically acquiring properties below the radar of institutional investors. Their investments often require substantial capital, indicating a focus on significant real estate ventures.
Middleburg Communities
Middleburg Communities is an integrated multifamily development, investment, construction, and management company active in the southeastern and mid-Atlantic United States, with a track record of substantial transaction volume and a focus on community impact.
LAB Ventures
LAB Ventures is a venture capital firm and startup studio specializing in disruptive PropTech companies, providing capital, market penetration support, and technology development to accelerate early-stage ventures in the real estate and construction technology sector.
What's next for Tour24?
With the recent influx of major enterprise-level funding, Tour24 is poised for accelerated growth and platform expansion. The company's focus on integrating smart-home technology and automating the leasing journey suggests a strategic push towards becoming an indispensable tool in the PropTech ecosystem. Future developments are likely to center on enhancing user experience, expanding integration partnerships with smart-home providers and property management software, and potentially exploring new markets or service offerings within the real estate technology sector. This latest investment will likely fuel innovation and solidify Tour24's market position.
See full Tour24 company page
