Matera Raises $43M to SaaS-ify Residential Building Management

Matera Secures $43 Million in Series B Funding

French tech company Matera has recently announced the successful completion of a $43 million (€35 million) Series B funding round. The investment was spearheaded by Mubadala Capital, with participation from Bpifrance, Burda Principal Investments, and existing investors Index Ventures and Samaipata.

A Vertical SaaS Solution for Property Management

Matera is focused on developing a specialized, vertical Software-as-a-Service (SaaS) platform tailored for residential property management. In France, building co-owners have the option to self-manage their common areas, transitioning away from traditional property management companies.

This approach is particularly advantageous for smaller residential buildings, such as those containing 10 to 15 apartments. Reduced complexity in managing relationships, invoices, and overall workload makes self-management more feasible.

Platform Features and Functionality

When co-owners elect to utilize Matera, they gain access to both a web-based platform and a dedicated mobile application. These tools provide a centralized view of building information and all associated contracts.

These contracts cover essential services like elevator upkeep, heating system maintenance, water supply, and electricity provisions. The platform offers comprehensive oversight of these critical areas.

Should any concerns arise, users can readily connect with a residential building specialist from Matera. These experts provide guidance on legal compliance and assist with necessary paperwork.

Streamlining Co-Owner Meetings and Communication

The platform also simplifies the process of organizing and conducting annual co-owner meetings. It facilitates communication among all co-owners through features like a dedicated forum and an on-demand letter service.

Each co-owner receives individual login credentials, granting them personalized access to relevant information and platform functionalities.

Expanding Financial Management Capabilities

In October 2020, Matera introduced a new service designed to encompass a broader scope of building management tasks. Clients can now opt to manage their building’s financial accounts directly through the platform.

This allows co-owners to make payments directly to Matera, while providing complete transparency and tracking of the building’s budget over time.

Plans for Expansion and Growth

The newly acquired funding will be used to facilitate Matera’s expansion into the German market. The company has experienced substantial growth, currently managing 3,000 buildings.

This represents a 300% increase in building management year-over-year. A total of 60,000 owners are currently utilizing the Matera platform.

“The past year demonstrated the relevance of our model and the value we deliver, solidifying Matera as an ideal solution for the current environment,” stated Raphaël di Meglio, co-founder and CEO.

“The crisis accelerated digital transformation within our sector, while simultaneously increasing the importance of our homes and buildings. Our clients sought greater transparency and cost savings, and we are equipped to provide both.”

Future Outlook

Matera aims to manage 6,000 buildings by the end of 2021, including 40 located in Germany. The company currently employs 200 individuals and intends to add another 50 to its workforce.