CheckpointID Raises $1.5M to Eliminate Rental Fraud in the Multifamily Industry
GOODYEAR, Ariz.--(BUSINESS WIRE)--Jan 16, 2019--CheckpointID, the largest identity verification company in the multifamily space, today announced it has closed a $1.5M Series A funding round led by RET Ventures. CheckpointID is one of the fastest growing new companies in the multifamily space, going from 21,000 units deployed in January 2018 to over 125,00 units by December 2018. Today’s funding will help the Company expand its team to meet increased demand in the multifamily industry.
CheckpointID is an ID verification service that creates point-of-transaction transparency with customers prior to apartment tours and move-ins. With CheckpointID, multifamily owners and operators can securely verify all guest IDs through a simple scan, enabling asset protection from criminals renting with a stolen identity, ensuring a safe touring environment, and aggregating demographic data from tours to better market properties.
“Three percent of all apartment tours begin with a forged ID, which allows potential renters to hide everything from bad credit to a criminal history. This endangers not only the touring agents, but also everyone living in the entire multifamily property,” said Terry Slattery, CEO, CheckpointID. “RET Ventures has a great track record of helping multifamily technologies succeed and scale quickly which is why the firm is the perfect partner to help us maintain our momentum and better protect multifamily owners, operators, residents and their assets.”
CheckpointID is the industry leader in recognizing sophisticated front & back forgery methods. By matching thousands of lines of code against government databases at machine speed, CheckpointID is able to immediately detect inaccuracies in a potential renter’s documentation and alert multifamily operators of the forged credentials.
“CheckpointID provides the best technology to ensure the safety and security of multifamily operators and their residents,” said John Helm, Managing Director, RET Ventures. “The Company is a perfect fit for our Fund as it brings innovative technology and is led by a group of multifamily veterans who truly understand the complex rental space.”
ABOUT CHECKPOINTID CheckpointID is the leading ID verification service in the multifamily industry. Headquartered in Goodyear, Arizona, Checkpoint’s software matches thousands of lines of code against government databases to immediately detect inaccuracies and alert operators to fraud and other potential criminal actions.
ABOUT RETV RET Ventures is the first industry-backed early stage venture fund focused on helping build cutting-edge real estate technology companies for the multifamily industry. The Firm connects the smartest rent tech solutions with the largest network of multifamily and single-family rental units in North America. RET Ventures works with high quality entrepreneurs to rapidly scale their businesses by leveraging the knowledge and expertise of its team and limited partners, who own close to one million units. In turn, these owners receive early access and insight into the most effective technology solutions. For more information, please visit www.ret.vc.
View source version on businesswire.com:https://www.businesswire.com/news/home/20190116005446/en/
CONTACT: Terry Slattery
fama PR on behalf of RET Ventures
KEYWORD: UNITED STATES NORTH AMERICA ARIZONA
INDUSTRY KEYWORD: TECHNOLOGY INTERNET SOFTWARE SECURITY PROFESSIONAL SERVICES REIT FINANCE CONSTRUCTION & PROPERTY RESIDENTIAL BUILDING & REAL ESTATE
SOURCE: RET Ventures
Copyright Business Wire 2019.
PUB: 01/16/2019 09:00 AM/DISC: 01/16/2019 09:01 AM