The closing of the round follows exponential growth for the proptech firm, driven by the growing desire for connected technology solutions in the multi-residential property space.
OTTAWA, Ontario–(BUSINESS WIRE)–1VALET Corp, a market leader with a disruptive smart building operating system at the forefront of property technology, announced today the successful closing of a $5 million SAFE round. The round, which had a fixed maturity date of July 31st 2021, converts investor’s interest in the SAFE into preferred shares.
The oversubscription of shares reflects the proptech firm’s exponential growth and momentum, particularly over the past year. Backed by strategic partnerships with telecommunication companies, security integrators and other industry leaders, 1VALET has seen its contracted door count jump 540% since the end of fiscal 2020. The investment will allow 1VALET to support the continued deployment of its smart building ecosystem across North America, drive the expansion of its supply chain to meet their significant product demand, and fuel continued technological innovation.
In the past few months 1VALET has released industry-leading solutions for package delivery as well as parking management for multi-family communities. Its family of smart entry systems continues to win over property developers, REITs, asset managers, security integrators and residents at a tremendous growth rate.
“We are extremely excited by the value our company has been able to create for our clients and stakeholders, and are very proud that our investors share our vision for the future,” said 1VALET VP of Finance Francois Forrest. “This latest round of funding allows 1VALET to continue pushing the innovation of our market-leading platform, fulfill projects currently in our sales pipeline, increase additional market share and enable the company’s international growth. We will now turn our focus to expanding our footprint through the opening of additional offices across the United States and replicating our success with partners south of the border. Our strategic partnerships with industry leaders have continually shown a proven model for solid growth, and our investors want to be a part of that.”
1VALET is a smart building operating system that integrates IoT technologies to better connect residents to their community, and easily convert any multi-family building into a connected smart building. By centralizing building systems into one web-based dashboard and empowering tenants with a Resident App, 1VALET can enhance resident engagement, increase NOI, and create safer, smarter communities.
To learn more, visit 1VALET.com
Marketing Communications Manager