Seattle City Wire

Using money from a recent round of growth funding that raised $20 million, Knock, a CRM (client relationship management) and performance management platform for multifamily property management companies, plans to expand its team and product portfolio.

Knock will invest in areas including centralized sales and leasing management, virtual and self-guided touring, artificial intelligence communications, fraud prevention, applicant screening and leasing, and intelligent forecasting, according to Cision PRWeb.

Fifth Wall, the largest venture capital firm focused on technology-driven innovation for the global real estate industry, led this round of funding.

"The macroeconomic environment is driving institutional capital into multifamily real estate at an accelerated pace," Vik Chawla, partner at the real estate technology investment team at Fifth Wall, told Cision PRWeb. "With asset prices increasing in response, operators need to improve yield and maximize operational efficiencies.”

Both of those things are possible through the offerings from Knock, he said.

“Its platform optimizes the entire tenant relationship -- from marketing to retention -- and serves as a workforce management solution for training and tracking productivity,” Chawla said, according to Cision PRWeb. “As operators face escalating challenges, we believe Knock is positioned as the ideal partner to help their businesses thrive."

The average operator who switches from other bundled products to Knock has an approximately 20% increase in lead-to-lease rates, according to Cision PRWeb. This is attributed, in part, to the lack of focus on CRM and performance management with other options.

“Our mission is to enable successful communities, and we live up to that mantra by providing multifamily owners and property managers with the products and partnership to give them a demonstrable competitive edge,” Demetri Themelis, Knock cofounder and CEO, told Cision PRWeb. “It’s no secret that sales organizations who manage a high degree of discipline and adherence to customer relationship management outperform.”