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Why We Invested in iDWELL

We are pleased to lead a €10 million strategic investment in iDWELL, a property management software provider based in Vienna, Austria. Founded in 2017 by Alexander Roth and Anna Matzenberger, iDWELL has quickly become a leader in the property management sector across Germany and Austria.

iDWELL’s platform offers comprehensive solutions for property managers by streamlining both back-office and front-office activities. The software includes modules for Customer Relationship Management (CRM), financial management, and service coordination, resulting in greater efficiency in managing real estate portfolios. Headquartered in Vienna, iDWELL provides software to over 750 property management companies managing 1.5 million residential units.

With this investment, Knight Capital is buying out some existing investors while injecting new capital to accelerate iDWELL’s further growth.

The new growth capital will support iDWELL’s efforts to consistently grow by winning new property management companies, diversifying its product offerings, and fostering long-term partnerships within the DACH region. The company will focus on developing even more efficient property management solutions based on artificial intelligence, while also expanding its range of financial and insurance solutions and broadening its overall service portfolio.

What & Why

The property management industry is notorious for its manual processes. Many property managers still need to rely on Microsoft Excel, WhatsApp and even pen and paper to communicate with tenants and manage operations. This creates inefficiencies, slows down response times, and increases the risk of errors.

iDWELL addresses these pain points by offering a comprehensive software solution that digitizes core property management tasks, from communication to invoicing. The platform consists of three key modules:

• CRM Module: Streamlines communication and ticket management for tenant requests, ensuring efficient handling of complaints, maintenance and incidents.
• Finance Module: Automates financial processes, including invoice management, reducing time spent on manual tasks.
• Services Module: Facilitates interactions with service providers for daily operational tasks such as maintenance and cleaning.

By automating these processes, iDWELL saves time and enhances accuracy and compliance with local regulations. 

Investment Thesis

iDWELL is uniquely positioned to lead the digital transformation of property management in the DACH region. Several key factors drive our investment:

• Market Opportunity: The property management sector in Germany and Austria is large and growing, valued at €25.9 billion in 2023. iDWELL's tailored solution fills a critical need for digitization in this fragmented market, where over 90% of managers still rely on manual processes.
• Product Excellence: iDWELL's platform is a one-stop solution for property managers, offering deep integration with legacy ERP systems and a user-friendly interface for tenants and managers alike. Their ability to centralize operations, reduce errors and boost productivity makes their platform mission critical.
• Traction and Growth: iDWELL has demonstrated significant growth, currently serving over 750 property management companies managing 1.5 million residential units across the DACH region. The company's "land-and-expand" strategy ensures continued growth and upselling opportunities with existing clients.
• Team: Alexander Roth, Anna Matzenberger and the rest of the leadership team have a proven track record in the property management sector, bringing deep industry knowledge and a focus on innovation. Their ability to adapt the product based on customer feedback ensures continuous improvement and relevance in the market.

Trends and Opportunities

Several trends favor iDWELL's continued growth:

• Increasing Demand for Digitalization: Property managers face mounting pressure to adopt digital solutions to remain competitive, driven by tenant expectations and market developments.
• Operational Efficiency: With rising labor costs and a shortage of skilled workers, property managers need tools that automate processes and reduce reliance on manual tasks.
• Compliance with Local Regulations: iDWELL’s platform is tailored to align with the specific operational and regulatory frameworks prevalent in Germany and Austria, ensuring compliance and offering a localized advantage.

With its innovative software, impressive growth, and highly satisfied customers, iDWELL is perfectly positioned to scale further in the rapidly digitizing real estate industry. 

We are excited to support Alexander, Anna and the rest of the iDWELL team in their journey, as they continue to innovate, expand their market presence and transform the real estate industry.

For more information about iDWELL, visit their website: idwell.com.

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