This article is from the Australian Property Journal archive
PROPTECH start-up :Different has raised $7.1 million in a Series A round from top venture capitalists including PieLAB, AirTree, Spring Capital and Tim Roberts’ Warburton Group.
The funding will help :Different continue to grow its team, invest in its technology, and expand to new cities including Perth and Canberra, building on its presences in Sydney, Melbourne, Brisbane and the Gold Coast with more than $1 billion worth of properties under its management.
Cofounder Ruwin Perera said raising this latest round of funding, especially during the COVID-19 pandemic, is testament to not only the strength of the team and viability of the business model but a broader need for a better property management solution for owners and tenants in Australia.
“We’re lucky to have some of the best talent and venture capitalists in the country on our team and in our corner helping us achieve our mission to be the assistant to the home.
“AirTree and PieLAB have been instrumental in our growth, not only providing funds to help us invest in our product and people but the strategic counsel, partner introductions and bigger picture insights that are critical for our long term success. Spring Capital and Warburton Group are strong additions to this mix, which will help us as we enter into this next phase of growth,” Perera said.
Founded by Mina Radhakrishnan and Ruwin Perera, who both spent time in Silicon Valley at the likes of Uber and Google, :Different aims to be the assistant for the home. Focused on providing a better experience for property owners and renters, :Different combines expert property managers with technology that automates the everyday repetitive tasks for an improved, seamless experience at a flat fee of $100 a month.
PieLAB investment director Richard Anderson said the company has had the opportunity to witness the tremendous progress that Mina, Ruwin and the team have made in building a great team of people combined with a world class, proprietary, fully integrated technology platform that brings together all the stakeholders in the property management ecosystem.
“We are excited to be part of the Series A investor group and support :Different in becoming “the assistant for the home”,” he added.
AirTree managing partner and cofounder Craig Blair added: “Since we partnered with :Different at pre-seed stage, we have watched Mina and Ruwin translate a bold vision into a world class technology solution that powers property management for thousands of Australian households. This round validates the quality of the team and the product and we are excited about supporting :Different to shape the future of property management.”
Warburton CEO Darren Weaver said :Different reflects the significant opportunity to disrupt the property management sector in Australia and beyond through a uniquely integrated product platform, which is focused on delivering a better customer experience at a lower cost.
