Latchel, a software vendor serving long-term rental managers, has snagged an undisclosed new investment from Allegion Ventures.

Latchel, founded in 2016 and headquartered in Tacoma, Washington, provides technology to rental managers that facilitates tenant requests, connects to invoice service providers and offers renters insurance policies.

Its software is intended to help property managers be more responsive to tenants, while also creating a new revenue stream “so they don’t have to choose between happy residents and a healthy bottom line,” according to the funding announcement.

The company serves clients managing 100,000 rental units nationwide, mostly single-family homes. It has lately begun targeting multifamily rentals.

“Latchel continues to push services into the multifamily market, and Allegion Ventures’ knowledge of building access in the space is incredibly valuable to our team as we work to make a big difference for property managers looking to operate at the next level,” said Latchel co-founder and CEO Ethan Lieber. “I’m excited to tap their expertise and explore the potential of creating a bridge to connect maintenance, concierge services and building access in the future.”

Lieber was formerly director of product at One Planet Ops, where he created the apps and HomeGain, according to GeekWire. With Latchel, Lieber and his co-founders targeted a growing opportunity as private equity companies accumulated significant numbers of single-family homes for investment opportunities. Such owners need the help of third-party managers and tech vendors to look after the properties.

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