Left Lane Leads Rising Tide’s Seed for Independent Property Managers
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Rising Tide has closed an undisclosed Seed round led by Left Lane Capital. Left Lane also incubated the company alongside founder and CEO Blake Mohseni.
Rising Tide is based in Chicago. It acquires and invests in independently owned residential property management companies.
Property management is a market worth more than $100 billion, split across more than 240,000 firms that handle a large share of residential rentals. Most of them operate without the technology, systems and back-office support that bigger platforms rely on. Owners end up spending more time on manual admin than on relationships with tenants and property owners. When it is time to sell or step back, many face a choice between selling to a private equity buyer that rebrands them or handling succession alone.
Rising Tide is building a federation instead. Each member firm gets shared technology and capital to grow, while keeping its local brand, team and relationships intact. The company develops and tests its AI tools through The Lab, a program that puts them to work inside real property management businesses at no cost. The Lab is live with three firms today. Rising Tide keeps ownership of what it builds, operators get full use of it for free, and their business data stays in their hands.
Left Lane has invested more than $100 million in AI companies transforming traditional service industries, from accounting to dental. The Illinois company will use the new capital to bring more independent firms into its network.
Software vendors, insurers and maintenance providers that serve local property managers can get verified owner contacts at newly funded companies every week through Small Business Leads.