Seattle, Washington — 02/15/2022 — Showdigs—the fast-growth PropTech startup that combines cutting edge scheduling and showing technology with a network of licensed real estate agents—today announced the closing of its $7.4M Seed II funding round. The round was led by MetaProp—the world’s leading venture capital firm focused on the PropTech industry—with participation from other leading names including Vesta Ventures, Trilogy, Fortson VC as well as Tacoma Venture Group. This capital will enable Showdigs to strategically expand its team and rapidly launch its agent network nationwide.
“After a decade of first-hand experience working in the property management arena, I’d found myself continually frustrated with the multitude of crucial gaps throughout the process of listing to leasing a property,” said Kobi Bensimon, Founder & CEO of Showdigs. “Once I realized that I could fill these voids with a tech platform centralizing the process, Showdigs was born. Since 2018, we have been dedicated to building the tech that modernizes the entire rental turnover process. This includes on-demand tour scheduling, our smartphone app, and of course our main differentiator: a network of Showdigs Agents.”
Booming institutional investment into the Single-Family Rental market has reached more than $10B. The continued explosive growth of the market, currently valued at a staggering $3.4T, has incentivized disruption of the traditional model in tandem with the significant financial investments. Both large property management companies and institutional investors are seeking disruptive technologies to scale efficiencies at a comparable rate. For agents and brokers, Showdigs provides a smart source of supplemental income at their convenience.
“Showdigs is leading the next major shift towards scalable, high-touch technology solutions in the single-family property management industry,” said incoming board member, Aaron Block, Co-Founder and Managing Partner at MetaProp. “The incredible year-over-year growth they’ve achieved with limited resources made our investment a straightforward decision—we’re excited to see their growth in 2022.”
Showdigs raised a notable $3M Seed funding round in April 2019 to build and scale their on-demand network of local, licensed real estate agents to professionally handle property management fieldwork—operating much the same way as driver networks for on-demand delivery services. Bolstered by rapid success in on-demand showings, Showdigs used its revenue to create an end-to-end leasing solution, including SMS automation, a 24/7 automated leasing line, and the utmost secure self-showing technology available.
Over the last three years, Showdigs has gone from a small agent network in Seattle to a fully built out Software-as-a-Service (SaaS) platform with hundreds of agents across Seattle, Denver, Portland, and the Bay Area. After launching their end-to-end leasing software to property managers nationwide, Showdigs plans to spend 2022 rapidly growing its agent network across the nation as well as Canada.
Founded in 2018 by PropTech veteran Kobi Bensimon, Showdigs is a one-of-a-kind leasing marketplace connecting and improving the lives of property managers, renters and real estate agents. The software enables today’s property managers to scale as well as simplify their business by outsourcing fieldwork and automating the listing to leasing process. At the same time, it provides prospective renters with a modern, on-demand rental hunting process, while helping licensed real estate agents sharpen their skills and supplement their income.