March 16, 2023, Denver — In order to further platform improvements throughout the company’s portfolio of technological services, Engrain, the industry pioneer in interactive mapping technology and data visualization software for the built environment, announced that it had secured USD 12 million in Series A investment. The venture fund RET Ventures, which has the support of the industry and focuses on digital solutions for the multifamily and single-family rental sectors, led the round.
TouchTour®, Asset Intelligence, and SightMap®, the company’s main products, are among its product lines. SightMap® is an interactive, content-rich property map that effortlessly integrates into real estate websites to let tenants choose their particular apartment. Every product makes use of Engrain’s Unit Map® technology, a free open-source map API that enables any software program to use property maps to show unit-level data.
With this money in hand, Engrain will use it toward a variety of platform upgrades, such as a cutting-edge marketplace with automated license management procedures and vendor-shareable property maps. Pathfinding features will also be added by Engrain to help visitors locate the fastest routes around the property and the neighborhood – a useful tool for potential residents, delivery employees, contractors, and maintenance staff.
Since Engrain’s founding in 2009, 8,000 multifamily and 3,000 self-storage facilities, totaling more than 5 million units, have chosen the company’s proptech software and touchscreen touring solutions.
“A long overdue phase change in the multifamily technology environment is currently taking place. In the future, independent of the staffing or touring situation, the leasing process will comprise unit-level searches across several properties. The industry needs a map so that humans and computers can observe what’s occurring on location as AI and machine learning applications start to take shape, “Brent Steiner, CEO of Engrain, stated. “After several years of growth, we’re excited to provide a series of automatic improvements that enhance the functionality and effectiveness of our software to enhance the user experience.
The firm has created interfaces with an outstanding ecosystem of dozens of IT platforms, including the major ILS, self-tour, and property management platforms, using Engrain’s Maps-as-a-Service SDK and API library. Engrain’s maps improve touring, navigation, leasing, and business intelligence/data visualization operations at hundreds of properties countrywide with these interfaces.
Each Unit Map is often shared with more than three outside suppliers, a statistic that is rising rapidly as the ecosystem gets more developed. Users will be able to request exchange maps directly with one another thanks to Engrain’s new, automated map marketplace, which will help manage this rapid development and the volume of integration activities. Future editions of the API will also offer capabilities that provide consumers additional insight into use specifications and other pertinent data collected.
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