Strata software firm Resvu has raised $4m to underpin its IUS expansion plans

Resvu founder Tom Welsby, chief finance officer Jodi Facy and chief operations officer Brett Baillie. Picture: Supplied.

Strata management software company Resvu has raised $4m to fund a push into the massive US market, bringing its total capital raised to date to $7m.

The Adelaide-based company has built a client base across Australia and the US servicing more than one million homeowners already, with the new capital to accelerate its US ambitions.

Founder Tom Welsby, who started his professional life as an accountant before moving into strata management, says the company’s software suite improves the strata management experience for both managers and property owners.

The result is a significant reduction in the need to communicate via email and phone, freeing up time for everyone involved.

“We set out with a promise to offer a market-first platform that focuses on providing strata and community management companies with the tools to implement a more transparent and effective service experience to their homeowners and, in turn, improve management wellbeing by returning time to their days,” Mr Welsby said.

“Over our short journey thus far, the team of 23 passionate and skilled professionals across the Australian head office in Adelaide and US office has built a client base of management companies in these two countries who service more than one million homeowners. That suggests we’re delivering on the promise.”

Chief operations officer Brett Baillie said eliminating pain points for users was a big point of difference, but there were also benefits regarding profitability.

“Our team creates new revenue opportunities for management companies and returns time to managers, freeing them up to communicate with their committees and boards, facilitate homeowner requests and keep on top of important projects pivotal to their role in helping to enhance the value of the strata communities they manage.

“We further assist boards and committees to better communicate with and serve their communities, and by linking these communities with their manager, we enhance the chances of an improved homeowner experience.

“The platform also consists of workflows to help centralise customer requests and so allow more specialised teams or individuals to take care of matters, all while providing live status updates to the homeowner.

“This allows managers to efficiently address tasks relating to a community and, conversely, give residents and committees greater access to projects and their status.’’

Resvu chair Richard Hockney, who also previously chaired financial services company Joust, said raising $4m in new capital was an impressive result in the current market.

“That’s a huge result in the current market and is a strong demonstration of investor confidence in the company,” Mr Hockney said, that Resvu now has more than 40 investors.

“These funds will play a pivotal role in further developing Resvu’s presence in the US market, strengthening our sales and marketing teams and enhancing our software offerings.

“They will also be used here and abroad to allow strata and community management companies to revolutionise their service delivery by customising request workflows and giving homeowners the ability to resolve more issues on their own.

“The result is more proactive communication, faster response times on requests, greater transparency in information and, ultimately, a better living experience.”