Smart cities and urban sustainability are creating the biggest buzz in the prop tech industry. To accelerate economic growth and improve the lives of residents, leveraging cutting-edge technologies and modern solutions are key for a smart city to fully seize its potential. In a study conducted by Precedence Research, the urban global population is expected to grow at an unprecedented rate of 68.4% in 2050 – a staggering increase from 2019’s 55.7%, with the largest market diver being in North America.
Forward-thinking leaders know that the North American digital transformation, particularly in the U.S., will introduce a myriad of opportunities to improve the real estate landscape by providing exceptional user experiences through a state-of-the-art intelligence platform. One progressive solution provider is currently creating headlines as it takes its latest product to the American market with a focus on improving owners and multi-family NOI via new revenue streams.
MyTower, an all-in-one innovative platform and operating system for next-level property intelligence management, raises $4 million to take its real estate SaaS, E-commerce, and IoT solutions to the U.S. market. The funding was led by The New Elad Residence & JTLV Capital, Matan Ben Gur Co-Founder of Orca Security, Anax Ventures, Lamed Holdings, Built-up Ventures, and SELA Construction & Investments.
A Holistic Property Intelligence Management Platform
MyTower is a technology company that brings innovation to the built world. The company develops SaaS and IoT solutions that provide value to all stakeholders in the real estate world, from FM companies to real-estate developers, property owners, and tenants. Its main goal is to bridge the gap between too many solutions and user experiences for the American market without increasing the rent and lease. Their holistic property intelligence management platform aims to connect and enhance property and service management, bringing the entire ecosystem under one virtual roof. With $6.5 million in ARR, the company is now on solid grounds to take its solutions into the U.S. arena.
MyTower’s marketplace is from Israeli Unicorns Technologies to on-demand offerings from local and national businesses to make residents happier with lives easier and just plain better. And for property owners, it means a new revenue stream on top of monthly rents and leases.
Co-Founder and CEO Pini Shemesh recognizes the lack of cohesive real estate solutions in the American market, particularly in sustainability, retention, accessibility, and overall user experiences from competitors. Intending to increase property value by providing advanced technology, new revenue streams, efficiency, and unique experiences, he and his team are ready to take this operating system for the neighborhood to create seamless synergy between properties, workflow segments, online innovations, and real-world elements, supply and demand, residents, communities, and leading platforms.
“The proptech industry does not only enable the connection of all factors but also the utilization of a lot of unused data and the possibility of scaled processes such as portfolio management or sales,” Pini says, “It also enables the use of innovative technologies such as digital currencies and Web3, which means that it will give way for future technologies and solutions that have not yet been developed. The financial crisis will allow this industry, which has been captive in tunnel vision for many years, to innovate and include new profits with the use of emerging technologies.”
Moreover, he reiterates the need for innovation, creativity, and technology to take smart cities in the U.S. to greater heights. “The smart city will not seize its full potential until the proptech industry accelerates different verticals from the properties themselves to innovative complexes to make mountain neighborhoods and real estate processes more innovative,” he concludes.