WhoseYourLandlord (WYL) raises $2.1 million seed and launches SaaS product to improve the relationship between landlords and tenants across the U.S.
New oversubscribed funding round, led by Black Ops, enables WYL to transform the tenant and landlord relationship in real estate
New York – February 1, 2022 - PropTech startup, WhoseYourLandlord (WYL), today announced it has raised an oversubscribed, $2.1 million seed round of funding. WYL, which provides a landlord and apartment building review platform, is also launching its first Home Provider (landlord and property manager) SaaS subscription product to improve the relationship between residents and home providers. The round was led by Black Operator Ventures (Black Ops) with participation from New York Ventures, Ben Franklin Tech Partners, and Google’s Black Founders Fund. Several notable angel investors including Diishan Imira (Founder, Mayvenn), Abbey Wemimo & Samir Goel (Founders, Esusu), and Michael Tobin (Founder, Fresh Catch) backed the company as well.
“As a founder, you always wish you could have garnered this level of resources sooner, but the other part of me looks at this moment as presenting the most timely opportunity to dramatically shift the housing industry forever,” said CEO and Founder Ofo Ezeugwu of WhoseYourLandlord. “When you see the housing tragedies that occurred in January in the Bronx and in Philly or last summer at Surfside in Miami, you can’t help but think, ‘things don’t have to be this way.’ This funding is going to help WYL lead the movement on residential review technology, empowering renters to give meaningful feedback and bringing actionable insights and data analytics to home providers, helping them to better understand and support their residents.”
“Social impact in real estate hasn’t been something you’ve seen prioritized for companies in the most recent years, but WhoseYourLandlord has found a scalable way to systematically measure, analyze, and operationalize it for landlords and property managers alike,” said James Norman of Black Ops. Our team has followed Ofo's company journey over the years and their mission to bring agency to renters will have exponential returns both in business and in community. We’re excited to be a part of this company’s trajectory. They have a revolutionary product and phenomenal product vision that is uniquely positioned to transform the real estate industry and culture. By providing the proper tools to home providers, WhoseYourLandlord will create better living conditions and experiences for their residents.”
WhoseYourLandlord is committed to leading a movement that centers humanity at the heart of housing, forever changing the relationship between residents and home providers. They believe the future of real estate, both commercial and residential, is predicated on putting people first, property and profit second. WYL empowers home providers (landlords, property managers) and residents with the right tools to make informed rental decisions. The platform is free for residents, allowing them to share housing reviews and educational renter resources.
WYL’s new Home Provider software provides data and predictive analytics as a service to building owner/operators enabling them to increase their retention rates, make more data-driven capital improvement decisions, and receive recognition for being a top home provider in their respective communities (hastening the lease up process and expanding their access to capital).
“Historically the housing industry has put landlords first, asking for more information about renters than residents would ever know about their home providers. Our platform was meant to change that and we’re continuing to make strides, even with this new product offering. The benefits to early customers of the platform have been significant,” explains Elisa Davidson, COO. "We've had clients rave about how this product is helping them create a deeper connection with their residents. More leaders in real estate are not only recognizing the need to ensure a better experience for their residents but also recognize the influence these reviews have on their bottom line. This movement really is about helping home providers ignite a feedback-obsessed culture across their entire enterprise, all powered by real-time residential feedback, but at the core it’s about the person-to-person relationships cultivating in these moments. That lives across everything we build together, anchoring what makes us and everyone one-of-a-kind —humanity.”
In the coming months, WYL will be expanding its team in the following areas: engineering, product, content, and sales, while continuing to invest in the ideology of being "human-first".
By cultivating a transparent marketplace, WYL is building the world's most trusted rental community.
About WhoseYourLandlord (WYL)
Founded in 2015, WhoseYourLandlord, Inc. is a PropTech platform centering humans at the heart of the housing industry. WYL was founded by Ofo Ezeugwu, who initially had the idea for the company when he was serving as the VP of the student body at Temple University in North Philadelphia, PA. He observed there were immense inequities, a lack of housing and financial education, inefficiencies in the housing process, and a clear lack of transparency when it came to how landlords engaged their residents. Since launching, renters on the WYL platform have gone on to review nearly 25,000 landlords, property managers, and apartment buildings across 425 US cities. And, from the operational insights the platform has additionally brought to landlords and property managers, WYL has gone on to launch WYL for Home Providers which fosters a closed feedback loop and actively engages both sides (renters and landlords) in promoting quality service, operational excellence, and a shift in the culture of renting forever.
About Black Operator Ventures
Black Operator Ventures, LLC (Black Ops), founded in 2020, is the first venture capital fund of its
kind, managed and led by an all-Black team of founders. Black Ops leads seed-stage investments
in Black-led tech companies and may also co-invest in Series A rounds or at the pre-seed stage.
Black Ops invests in founders who are resilient, have a unique perspective on their market and
possess the conviction to win their space. Managed by partners with operator experience, vast
networks, and the skills necessary to help scale companies, the fund provides more than capital.
Black Ops provides a roadmap to success for Black founders, and aims to create the most
billion-dollar valued companies ever founded by Black people. Find Black Ops Ventures online at
blackopsvc.com and on Twitter at @blackopsvc.