US-based property manager Mynd Property Management has completed a $41.5m series C round led by financial services firm Wells Fargo that took its total funding to more than $77m.
Venture capital firms Canaan Partners, Lightspeed Venture Partners and Jackson Square Ventures also took part in the round, the three having previously supplied $20m in series B funding for the company in May 2018.
Mynd applies technology to a property management practice that encompasses some 7,500 units spread across 16 US markets. It has adapted to the Covid-19 pandemic by combining remote leasing with 3D tours or properties and self-showings.
Osei Van Horne, managing director of the technology group at Wells Fargo Strategic Capital, said: “We were drawn to Mynd’s business model and proven ability to create a seamless, end-to-end management and investment platform for the residential property management sector.
“Wells Fargo is excited to be an equity investor in this tech-enabled company as it continues to improve the virtual property management and leasing experience, and bring a new level of efficiency for real estate investors, owners, renters and residents.
Canaan Partners led Mynd’s $5m series A round in 2016 before returning to provide $5.1m in series A1 funding in March 2017 alongside Jackson Square Ventures, Lightspeed Venture Partners and unnamed angel investors. The same three added $5m in October the same year.
