Billee Technologies, a comprehensive utility management program for the multifamily industry, has completed a $9.15 million seed financing round, led by strategic investors, including RET Ventures.
To address an industry operational pain point, Billee’s platform leverages artificial intelligence (AI) and automation to eliminate manual processes, improve billing accuracy, and unlock cost savings for multifamily owners and operators.
“At a time when multifamily owners and operators are navigating staffing challenges and ongoing economic pressures, the last thing they need is foregone revenue due to utility billing inaccuracies,” said CEO John Hinckley, a veteran in the proptech space. “At Billee, we’re using the latest AI-driven technology to modernize one of the most frustrating areas of property management.”
According to the firm, it plans to use the capital injection to expand its research and development team as well as continue to refine its core platform.
“At RET Ventures, we’re focused on backing innovation that directly addresses the real challenges property owners and operators face daily,” noted John Helm, partner at RET Ventures. “Utility billing has suffered from a lack of innovation for far too long, and Billee is stepping in to change that with advanced analytics that empower owners to proactively recover lost revenue, make better use of on-site teams, and deliver a smoother resident experience—rather than simply react to problems when they occur.”