Dallas-based Modern Message has raised $2 million in Series A funding.
The apartment rewards startup announced the results of the investment round this week, which was led by San Francisco’s AXA Strategic Ventures and included Dallas-area investors.
Through its Community Rewards app, Modern Message gamifys apartment living giving residents reward points for completing tasks — such as paying rent, filling out surveys, or renewing a lease — that are redeemable for gift cards.
Modern Message had triple digit growth during 2016, according to the company. It had $2.8 million in sales last year, according to D CEO‘s Danielle Abril. In 2017, it’s expected to reach up to $5 million in revenue.
With the new funding, Modern Message is planning to add 12 new members to its current 28-person team in Dallas and introduce new features on its app.
“The funding by ASV reinforces our commitment to growth,” said Modern Message Co-founder and CEO John Hinckley in a release. “We intend to establish Modern Message as the No. 1 solution for resident engagement in North America, while pursuing a vision for serving apartment communities internationally.”
In April, Modern Message was awarded the “Best Off-Campus Vendor/Operator Solution” at the Student Housing Business Innovator Awards for its Community Rewards app.
The app is currently used in almost 2,500 North American residential communities including student housing.