What is Tour24?
Tour24 operates as the on-demand platform designed to automate the process of apartment tours. Emerging from the founders of Package Concierge, a Gibraltar Industries Inc. company known for its automated package locker systems, Tour24's technology integrates with smart-home providers. This integration enables self-guided property tours, effectively extending the capabilities of leasing teams. The platform allows prospective residents to tour apartments at their convenience, thereby accelerating the home-finding process and driving 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 Middleburg Communities and LAB Ventures
Series A (2022): $11M supported by 29th Street Capital, LAB Ventures, and Middleburg Communities
Key Investors in Tour24
Middleburg Communities
Middleburg Communities is a fully integrated multifamily development, investment, construction, and management company operating in the southeastern and mid-Atlantic United States. Since 2004, Middleburg has acquired and developed more than 22,000 apartment units, executing over $3 billion in transactions. The Middleburg team shares a vision for greater value creation through community impact.
LAB Ventures
The LAB Miami is a vibrant innovation hub located in Wynwood, designed for serious founders, engineers, and startup operators. It offers a collaborative environment with resources and connections to help entrepreneurs build and scale their businesses. The campus includes two unique locations: The LAB, focused on growth-stage startups, and The DOCK, catering to early-stage entrepreneurs.
29th Street Capital
Formed in 2009, 29th Street Capital is a privately-held real estate investment and advisory firm that employs a value-added investment strategy in acquiring properties that typically fall below the radar of its institutional peers. Over the past 12 months, 29th Street Capital has acquired 15 conventional multifamily assets and continues to actively pursue additional opportunities throughout the U.S.
What's next for Tour24?
With substantial enterprise-level backing, Tour24 is poised for accelerated growth and market expansion. The company's focus on streamlining the leasing journey through technology positions it to capitalize on the evolving demands of the real estate sector. Future developments are likely to involve further integration with smart-home ecosystems and enhancements to the self-guided tour experience, aiming to solidify its position as a leader in PropTech and a critical tool for property managers seeking to optimize their leasing operations and resident acquisition strategies.
See full Tour24 company page
