Real estate accounting tech company Proper raises $9M in funding

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Proper, a San Francisco-based provider of automated accounting and bookkeeping services for real estate property and asset managers, has scored $9 million in Series A funding from investors.

Proper plans to use the extra funds to accelerate development of its automated accounting technology, build a new customer-facing platform, and hire strategic talent across all functions. The real estate industry has been soaring over the past year since the pandemic prompted people to move to new homes. Now a housing shortage has developed in many parts of the country and prices of homes and rents have been soaring. Buyers and sellers alike have relied heavily on technology to buy and sell their homes, and accountants and bookkeepers have been kept busy, including with the new lease accounting standard.

“The incredible demand we’ve seen since launch has proven that this industry is hungry for a more efficient, scalable, and cost-effective accounting solution,”…

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