Newswire Agents of Tech

Engrain Raises $12M in Series A Funding for Property Mapping Tech

Engrain, a provider of interactive mapping technology and data visualization software for the built environment has raised $12 million in Series A funding to drive platform enhancements across the company’s suite of technology offerings. The round was led by RET Ventures, an industry-backed venture fund with a focus on technology solutions for the multifamily and single-family rental industries.

The company’s product lines include TouchTour, Asset Intelligence and its flagship product, SightMap, an interactive property map that embeds into property websites to enable renters to select their specific apartment. All products leverage Engrain’s Unit Map technology, an open map API allowing any software application to use property maps to display unit-level data.

Engrain will invest the capital in a wide range of platform improvements, including an innovative marketplace with automated processes around license management and sharing property maps with vendors. Engrain will also add pathfinding capabilities for visitors to navigate the most efficient paths around the property and surrounding community — a valuable tool for prospective residents, delivery personnel, contractors and maintenance staff.

Since Engrain’s inception in 2009, the company’s proptech software and touchscreen touring solutions have been adopted by 8,000 multifamily and 3,000 self storage properties, comprising over five million units. Engrain is used by 75% of the country’s 50 largest apartment owners. This Series A funding will enable Engrain to enhance the value it offers to owners and operators of regional and middle market properties of any size.

“The multifamily technology landscape is undergoing a long overdue phase shift. We’re moving toward a world in which the leasing process involves unit-level search across multiple properties, regardless of the staffing or touring scenario. At the same time, AI and machine learning applications are beginning to take shape, and the industry needs a map for people and machines to see what’s happening on site,” said Engrain CEO Brent Steiner. “Following several years of growth, we’re looking forward to delivering a series of automated upgrades that improve our software’s operation and efficiency to elevate the user experience. At the core of Engrain’s ethos is an emphasis on creating convenient and accessible experiences to everyone who walks onto a property, and we’re eager to continue modernizing and refining our platform to achieve this goal.”

Using Engrain’s Maps-as-a-Service SDK and API library, the company has established integrations with dozens of tech platforms, including all major ILS, self-touring and property management platforms.