OAKLAND — Mynd, a tech-enabled property management company, has secured another $5 million in venture backing led by Lightspeed Ventures, with re-investments from Canaan Partners and Jackson Square Ventures. Also participating in the round is Barry Sternlicht, Chairman and CEO of Starwood Capital Group. This new investment brings the company’s total funding to date to $15.6 million.
“With this additional capital from our investment partners, we will continue our rapid expansion into new markets with a continued focus on delivering a better service to property owners and their residents,” said Chairman and CTO Colin Wiel.
“We’re thrilled that our former Chairman at Starwood Waypoint, Barry Strernlicht, a longtime partner and mentor, has joined our team as an investor,” said CEO Doug Brien. “Barry’s belief in our vision is a huge validation for our business.”
Mynd is reinventing the multi-family residential market by providing property management services through their homegrown software and experienced operating team. Founded in 2016, Mynd is one of the fastest growing mid-cap property management companies in the U.S. The Mynd portfolio of over 1,100 units began in the Bay Area and has extended into the San Diego market with the acquisition of Pacific Shore Management.
“Mynd has designed a technology platform and assembled an experienced operating team to address the inefficiencies in the market,” said Will Kohler from Lightspeed Ventures. “We are excited to be working with the team to address what we believe is a big opportunity to reinvent and propel the residential rental market.”