Knock, the proptech multifamily management platform, as has raised $20 million in growth funding.
The round was led by Fifth Wall, the largest venture capital firm focused on technology-driven innovation for the global real estate industry, and includes participation from existing investors Madrona Venture Group, Lead Edge Capital, Second Avenue Partners and Seven Peaks Ventures. Vik Chawla, partner, Fifth Wall will join Knock’s Board of Directors. This brings the company’s total capital raised to $47 million.
Knock will use the investment to continue expanding its team and product portfolio, including centralized sales and leasing management, virtual and self-guided touring, AI communications, fraud prevention, applicant screening and leasing, and intelligent forecasting.
“The macroeconomic environment is driving institutional capital into multifamily real estate at an accelerated pace,” said Vik Chawla, partner on the Real Estate Technology Investment Team at Fifth Wall.
“With asset prices increasing in response, operators need to improve yield and maximize operational efficiencies. As the preeminent CRM solution for multifamily real estate, Knock helps owners and management companies do both. Its platform optimizes the entire tenant relationship — from marketing to retention — and serves as a workforce management solution for training and tracking productivity. As operators face escalating challenges, we believe Knock is positioned as the ideal partner to help their businesses thrive.”
Knock is used by over half of NMHC’s Top 50 Managers, including Starwood Capital Group, ZRS, FPI and Cushman & Wakefield (formerly Pinnacle), serving multifamily real estate’s $3.3 trillion asset class.
“Our mission is to enable successful communities and we live up to that mantra by providing multifamily owners and property managers with the products and partnership to give them a demonstrable competitive edge,” said Demetri Themelis, co-founder and CEO at Knock.
“It’s no secret that sales organizations who manage a high degree of discipline and adherence to customer relationship management outperform. We’re passionate about our customers and have made tremendous investments into integration, automation and data transparency to make Knock the smartest and most intuitive CRM — our clients and their assets outperform as a result.
“We’re incredibly excited about this partnership with Fifth Wall. Their team and reputation for helping portfolio companies become category winners is unmatched.”