Lessen, A Real Estate Property Marketplace, Closes On $35M Series A Led By Fifth Wall

Lessen, a platform that connects property owners and service professionals, announced the closure Thursday of a $35-million Series A funding round.

Lessen's Series A Round Details: The development comes as part of Lessen’s vision to modernize the real estate industry with a tech-enabled, end-to-end solution for property services. The Series A was led by Fifth Wall. Khosla Ventures, General Catalyst and Navitas Capital also participated.

Proceeds will support technology improvements, market expansion, and team growth. Additionally, Dan Wenhold, partner at Fifth Wall, will join Lessen’s board of directors.

“We’re ecstatic about partnering with a team of world-class investors to build and grow the future of real estate property services,” said Jay McKee, Founder, and CEO of Lessen. “The industry is poised for a revolution in the way that property services are performed, delivered, and managed at scale.”

Why It Matters: Lessen is concerned with building a platform that enables service professionals a way to increase earnings while allowing property owners to cut costs and outsource property management concerns.

“The pandemic has supercharged growth in the single-family rental market, with no sign of slowing down, yet landlords lack the technology needed to effectively manage maintenance across their portfolios at scale,” said Fifth Wall's Wenhold.

“Lessen stands alone in its approach, offering a streamlined solution to the entire property services lifecycle. We believe the opportunity for Lessen is massive, and we’re thrilled to support the company through this next phase of its evolution and beyond.”

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