Properly, Inc.

About

Properly, Inc. is a technology company specializing in vacation rental quality management software, designed to streamline operations for property owners and managers while ensuring high standards.Founded in 2014 by Alex Nigg, Properly, Inc. operates from its headquarters in San Francisco, US. The company focuses on providing a platform that optimizes the management of vacation rentals. In June 2018, Properly raised USD 8.5 mn in a Series A funding round led by Asset Management Ventures, with participation from AccorHotels Group. This funding represents the total amount raised by the company, which is currently valued at USD 33.26 mn.Properly offers a comprehensive suite of vacation rental quality management software and services designed to streamline the management process for property owners and managers. Its core product is an innovative platform that automates scheduling, provides standard operating procedures, and facilitates inspections, ensuring high-quality turnovers and compliance with industry best practices. This software enables users to save time and reduce errors while maintaining flexibility for last-minute changes, thereby enhancing operational efficiency. The platform serves a diverse clientele, including vacation rental owners, property managers, and service providers in various geographical markets, particularly in urban centers and tourist destinations across North America, Europe, and Australia. By connecting users with a vetted service provider network, Properly addresses common challenges in the vacation rental industry, such as maintaining cleanliness and consistency between guest turnovers.Properly generates revenue through a subscription-based model that provides access to its software and services for property owners and managers. Clients typically engage with the platform under a subscription plan that allows them to manage multiple properties while benefiting from features such as real-time inspections and automated scheduling notifications. The revenue structure includes different pricing tiers based on the number of properties managed and the specific features utilized, offering flexibility to accommodate varying client needs. Transactions between Properly and its clients involve direct interactions through the platform, where users can request service providers, schedule jobs, and oversee the quality of work done through real-time updates and feedback mechanisms. This business model supports both B2B and direct-to-consumer interactions, enabling Properly to cater to a wide range of users seeking to enhance the quality and efficiency of their vacation rental operations.In October 2018, Properly, Inc. raised USD 8.5 mn in Series A funding to support its growth initiatives. The company plans to enhance its platform by launching new features designed to improve user experience and operational efficiency, although specific product release dates are not disclosed. Additionally, Properly intends to expand its presence in new markets, particularly targeting growth in Europe and Australia by the end of 2022. The recent funding will be utilized to develop these new products and facilitate the expansion into these geographic regions.