Property maintenance platform Lula raised $3 million in a seed round led by RET Ventures.
Bo Lais, Lula CEO
“The money we’ve raised is primarily going to be used for sales,” Lula CEO Bo Lais told the 4thEst8. “We have not, until just last month, had actual sales people. The founders and some of our staff all wear many hats… and had to go sell our product from day one.”
Lula is a property maintenance platform for single-family and multi-family rental owners to cut down the time they spend on maintenance issues. It integrates with popular property management software solutions, allowing maintenance coordinators and tenants to submit requests for work. Those requests can be evaluated and then dispatched to on-site maintenance or a vetted contractor in Lula’s network.
The startup is used in more than 40,000 rental units in ten markets including Kansas City, Houston, Denver and Atlanta. It has partnerships with Pathlight Property Management, AMG Asset Management Group, FirstKey Homes and HomeRiver Group.
The Overland Park, KS startup went to market in November 2017 and took on it’s 14th full time employee just this week. Lais participated in the Pipeline Entrepreneurship Program, Invest Midwest, Pitch Perfect and helped start a nonprofit called KC Collective with First Boulevard founder, Don Hawkins.
Lais confirms raising $1.2M prior to today in two rounds: a $750,000 seed round from Worchester Investments in Jan. 2019 and a $420,000 seed round in Feb. 2018. Worchester came on as an investor after engaging as a Beta customer. You can hear the whole story in the 4thEst8 Ringleader segment, Meet Lula.
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