Sugar, the venture-backed proptech company turning apartment buildings into interactive communities, has announced today that it has closed a $2.5M seed funding round. The funding was led by a prestigious group of key strategic investors across property tech, community and innovation. It will be used to drive Sugar's continued growth and expand its talent.
Investors in the round are MetaProp, Agya Ventures, Concrete Rose, Debut Capital, The Community Fund, Consonance Capital, Lightspeed Scout Fund, and Jason Calacanis' LAUNCH syndicate, as well as PropTech angel investors Wasserstrum and Diran Otegbade, Oleksiy Ignatyev, and Zillow board member Claire Cormier Thielke, also of Sequoia Scout Fund, and Super Angel Ben Zises. Sugar will also be participating as a 2021 anchor company in MetaProp's highly competitive annual Proptech Accelerator.
"We're honored to have the support in our technology and vision from such an excellent group of investors and innovators," said Fatima Dicko, Founder and CEO of Sugar. "We are thankful to have their backing, along with our incredibly talented team, and our clients across the US."
Founded in March 2020, Sugar enhances the residential experience through technology and innovation for apartment and residential communities. The platform includes customizable features to serve and engage residents, an all-in-one app for easy support and payment options, and other tools. Originally born to support residents and communities during COVID-19, Sugar serves clients throughout the world, including residential communities of all sizes, real estate investment groups, and other residential properties.
"Improving residential experiences can have a dynamic impact on business and residents," added Dicko. "Sugar provides the technology to make it easy. We're excited to continue to progress in the communities we serve," Dicko said.
Originally based in Los Angeles, Sugar was founded in early 2020. In the midst of the COVID-19 pandemic, Sugar was designed to enhance the quarantine experience for people spending significantly more time at home. For apartment and residential communities, we saw the opportunity to make it easier for residents to engage with one another in a safe and efficient way. Our product was designed in partnership with real estate investment groups and property management companies to build the most relevant features. Our goal is to leverage technology and design thinking to deliver an amazing living experience to residents by making daily tasks and community engagement significantly easier. For more information, visit www.sugarliving.com/
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