Real estate start-up led by Mali-born founder Sugar raises $ 2.5 million

Sugar, a Los Angeles-based proptech, runs an all-in-one solution that makes apartment living easier. Several investors participated in the roundtable including MetaProp, Concrete Rose, Agya Ventures, Debut Capital, Consonance Capital, The Community Fund, Lightspeed Scout Fund and Jason Calacanis’ LAUNCH syndicate. Notable participants in the tour were Ben Zises, Jonathan Wasserstrum, Oleksiy Ignatyev, Diran Otegbade and Claire Cormier Thielke.

Sugar was founded in 2020 by Mali-born Fatima Dicko at a time when people were quarantined due to the Covid-19 pandemic. She has partnered with apartments and property management companies to create an app for residents and communities who feel isolated from their neighbors. Residents can communicate through the app, unlock their doors without keys and several other features.

Ahead of the roundtable, the app saw MoM growth, including a 6-digit ARR just for months after launch. Today, the company manages 655 properties with 120,000 doors in 22 states.

Sugar offers a property management portal and resident app that helps property managers increase rental activity, reduce churn and reduce costs. Today, the application offers several; clients among them are hotels, real estate investment groups, Airbnb rentals and other residential properties.

Source: TechCrunch

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