#United States #New York #Moneta Ventures #Peek #Timber Grove Ventures

Peek Secures $5 Million in Series A Funding

In an exciting development for the real estate and digital leasing sectors, Peek, the innovative virtual leasing platform, has announced the successful closure of a $5 million Series A funding round. This financial boost will significantly enhance Peek's capabilities to transform how prospective renters engage with the apartment leasing process. The funding round was led by Moneta Ventures, with participation from Timber Grove Ventures and additional existing investors, showcasing robust confidence in Peek's vision and potential.

The New Era of Apartment Leasing

Peek has been at the forefront of redefining the apartment rental experience by enabling renters to seamlessly tour and lease properties online. In an era where convenience is paramount, Peek delivers an e-commerce-like experience that aligns perfectly with today's digital-first expectations. By offering advanced features such as unit-specific 3D tours, self-guided tours, and comprehensive data analytics, Peek empowers property managers and owners to accelerate the leasing process while simultaneously minimizing vacancy rates.

Austin Lo, the CEO and Founder of Peek, emphasized the significance of this funding, stating, "We are thrilled to partner with Moneta Ventures to scale our operations. As the demand for digital solutions in real estate intensifies, we see a tremendous opportunity to streamline and enhance the leasing process end-to-end."

The positive impact of Peek's platform is evident as it helps multifamily operators not only lease properties faster but also boosts overall revenue for apartment owners. Reports indicate that users of Peek's services experience up to a 30% reduction in vacancy days, significantly increasing the efficiency of property management.

Enhancing User Experience and Operational Efficiency

With the latest funding, Peek plans to amplify its go-to-market strategy, expand its engineering and customer success teams, and improve integrations with leading property management software. Jeff Olyniec, a Partner at Moneta Ventures, noted the shifting landscape in the proptech industry, stating, "Peek is modernizing an industry that has previously lagged in terms of digitalization. They are not just providing an enhanced experience for renters, but they are delivering clear ROI for property operators."

The significant growth Peek has achieved in enhancing leasing workflows is further highlighted by its ability to create three times more prospect tours compared to traditional 3D tour platforms. Property managers utilizing Peek's system benefit from enhanced visibility into leasing performance, which provides critical insights necessary for improving operational strategies and decision-making processes.

Strategic Board Appointments and Future Plans

In tandem with the funding announcement, Peek unveiled two new strategic appointments to its board of directors: Jeff Olyniec from Moneta Ventures and Luke Morris, Co-Founder at CREXI. These additions bring valuable industry knowledge and operational expertise essential for guiding Peek as it strives to establish itself as the standard in virtual leasing solutions.

Peek aims to utilize the new capital to further streamline its offerings, making the apartment leasing process not just faster but also more user-friendly, thereby captivating a broader user base as digital integration in real estate continues to be a priority.

To explore Peek's services or learn more about its innovative technology, visit www.peek.us. This dynamic shift towards digital leasing represents a crucial evolution in how people find and secure their living spaces, heralding a promising future for the real estate industry as it embraces e-commerce-driven solutions.