Modern Message, the creator of multifamily resident engagement platform Community Rewards, today announced that it has raised approximately $2 million in Series A funding. The Series A funding round was led by AXA Strategic Ventures (ASV) and comes on the heels of another triple digit growth year in 2016 for the Dallas-based technology company, which anticipates $4-5MM in revenue for 2017.
In the past four years, Community Rewards by Modern Message has established itself in the multifamily and student housing space by successfully developing the first-of-its-kind points based rewards concept, designed specifically and exclusively for the apartment industry.
Now offering services in all 50 states plus Canada, Modern Message looks to broaden the capabilities of Community Rewards with more flexible and customizable solutions with an emphasis on automation and scalability for clients using the program across the country. Modern Message currently engages more than one million residents each month and has worked with nearly 2,500 apartment communities in North America to date.
“The funding by ASV reinforces our commitment to growth,” said Modern Message cofounder and CEO, John Hinckley. “We intend to establish Modern Message as the number one solution for resident engagement in North America, while pursuing a vision for serving apartment communities internationally.”
Community Rewards has proven to be a key component in the overall resident experience, allowing apartment managers to award loyalty points to residents when they engage through the portal and complete certain items. These items can include joining the resident portal, paying rent online, referring friends, completing surveys, renewing their lease, following a community’s social media pages and RSVPing to community events, along with many other resident lifestyle activities.
The decision to stay focused in a niche industry has paid off, with Community Rewards now utilized by some of the largest building management companies across the country, such as Greystar, Lincoln Property Company, Gables Residents, EdR, and Asset Campus Housing.
Modern Message, which now includes 28 employees in their Dallas headquarters, will also use the funding to continue attracting top talent both regionally in Texas and across the country as they continue expansion.