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.”
Modern Message was recognized as the “Best Off-Campus Vendor and Operator Solution” at the 7th Annual Student Housing Business Innovator Awards in April. From left, CEO John Hinckley and EdR senior vice president of strategic business development and chief technology officer Scott Casey. [Image via Modern Message]
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.
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