With offices in Munich, Frankfurt and Berlin, German proptech startup casavi has just brought home a further €20 million Series B investment. The European growth equity fund Digital+ Partners is leading the investment, alongside Wachstumsfonds Bayern managed by Bayern Kapital and High-Tech Gründerfonds. Existing investors Dquadrat and WENVEST will continue to support casavi in its mission to optimise the property management sector through digital technology.
Proptech is building momentum across Europe, and, owing to the pandemic, there is currently high pressure for the real estate industry to accelerate its digital transformation. Against this backdrop, casavi has been able to achieve significant growth since its 2015 launch. In the past two years, the young startup has been able to more than double its client base.
Seamless collaboration between property managers, owners, tenants and service providers is becoming ever more critical for the efficient and user-oriented management of buildings. The core functions of the casavi platform include online ticket and workflow management, service apps for tenants as well as its digital service provider platform, Relay. The Relay platform allows for a seamless collaboration with up to 55,000 real estate service specialists. Casavi is using these innovative solutions to help approximately 1000 property mangers and housing associations manage their daily operations.
Peter Schindlmeier, casavi CEO, said: “casavi as a platform is tailored towards the specific demands of the building operations industry and is designed to facilitate a scalable digital network for all of its key stakeholders. The investment of Digital+, Wachstumsfonds Bayern and High-Tech Gründerfonds underscores our ambition to further strengthen our already exceptional market position and product offering.”
casavi currently manages over 70,000 buildings and 1.6 million residential units in Germany, Austria and Switzerland, making it one of the leading proptech platforms in the DACH region. With a team of 75 in offices across Germany, the young startup hopes to make an additional 50+ hires over the next 12 months.
The fresh funding just announced will be used to expand the company’s product offering and accelerate growth throughout Europe. One main area of investment will be product development with a strong focus on workflow automation. New features benefitting existing casavi clients will become available in early 2022, including an integration for hybrid property owner meetings and a module specifically addressing the EU Energy Efficiency Directive (EED). Furthermore, the company is planning to build out its existing network of over 30 partner solutions and increase the depth of existing system integrations.