Managed, a proptech platform designed to simplify property management workflows and reduce administration, has secured funding from REA Group, the operator of Realestate.com.au. REA Group has acquired a 28% minority stake in Managed, although the exact amount invested remains undisclosed. Since its launch in 2018, Managed has gained over 100 real estate agents and 5,000 tradespeople as users of its platform.
REA Group’s Chief Customer Product Officer, Andrew Rechtman, stated that the investment in Managed is indicative of the company’s commitment to increasing operational efficiency for Property Managers. By working with software providers like Managed, REA Group intends to streamline the number of systems needed for Property Managers to carry out their work. Furthermore, REA Group is dedicated to creating a healthy ecosystem for the rental marketplace, including improving the rental experience on Realestate.com.au, property management tools such as 1form, and their tenant verification process.
Managed’s Director, Nick Bouris, expressed his delight in having a technology leader like REA Group invest in their relatively young organization. Bouris also looked forward to utilizing the team’s expertise and experience to deliver increased value to Managed’s customers and consumers. The partnership with REA Group is expected to enable Managed to continue innovating and enhancing their services within the proptech industry.
