NoiseAware Raised $8 Million Series A Funding to Expand Rental Property Protection Service
DALLAS, April 5, 2021 /PRNewswire/ -- NoiseAware, the leader in smart noise monitoring, announced it has raised $8 million in Series A funding led by S3 Ventures and Thayer Ventures (NASDAQ: TVACU). The investment positions the company, which has monitored over one million stays, to accelerate product innovation and market expansion.
NoiseAware's market maker position is strengthened with a world-class investment team that balances travel and lodging expertise, first-rate SaaS experience, and a strategic industry network. New board members include Eric Engineer from S3 Ventures, the largest venture capital firm focused on Texas, and Jeff Jackson from Thayer Ventures, adding NoiseAware to its impressive portfolio of travel-focused companies. Stephanie Fuhrman, founder of Catalyst Innovation Lab and former Head of Innovation at Greystar, also joins the board to add a wealth of experience in multifamily providers and prop-tech. The new board members bolster an impressive group of advisors including long-time NoiseAware investor and board member Tom Hale, vacation rental industry veteran who led HomeAway® in product and operations through the company's IPO and acquisition by Expedia Group.
With the funding, NoiseAware will build on its foundation in the short-term rental industry, fostering new partnerships, launching internationally, and leading the way in smart noise monitoring in the growing sector of multifamily communities.
"I am incredibly proud of our team's steadfast focus on our customers' needs that has empowered the company to grow from a simple invention into something that both assures our customers' homes are protected and saves them money," said Andrew Schulz, NoiseAware CEO. "We are looking forward to leveraging knowledge from our new partners to help even more people concentrate on their business operation with the peace of mind that NoiseAware is keeping their investment secure."
"With the explosive growth of the short-term rental industry, NoiseAware is poised to make a significant impact on how property managers and homeowners can optimize the earnings on their rentals," said Thayer Ventures' Jeff Jackson. "NoiseAware provides a unique, automated offering that we feel will grow to be valuable in many verticals within the entire lodging industry, including multifamily and traditional hotels."
"We're excited to add NoiseAware to our portfolio of trailblazing Texas-grown companies," said Eric Engineer, Venture Partner of S3 Ventures. "Andrew and his team have established a clear leadership position by elegantly solving a real problem with a truly unique offering–coupled with a compelling vision for expansion into new markets."
Key team leadership roles have recently been filled to scale the impact of NoiseAware's business. Chief Operating Officer Peter Taylor, a seasoned growth driver in mid-stage companies, leads the latest round of executive hires. Hiring is taking place across all disciplines and experience levels, including the positions of Director of Product Management and Strategic Account Manager. Open positions can be viewed at https://jobs.lever.co/noiseaware.
About NoiseAware
Developed by a rental property owner in 2015, NoiseAware was the first to enter the market with a solution to the number one signal of potential property damage – noise. The NoiseAware privacy-safe smart noise monitoring solution saves property owners and managers time and money, allowing them to maximize their Return on Rentals and minimize hassle and expense. The company has helped short-term rental homeowners and managers save $105 million in lost rental revenue due to noise disturbances. NoiseAware helps create responsible guests, good neighbors, and community harmony. To learn more visit www.noiseaware.com.
About S3 Ventures
S3 Ventures is the largest venture capital firm focused on Texas. Backed for 15+ years by a philanthropic, multi-billion-dollar family, we empower great entrepreneurs with the patient capital and true resources required to grow extraordinary, high-impact companies in Business Technology, Consumer Digital Experiences, and Healthcare Technology.
About Thayer Ventures
San Francisco-based Thayer Ventures is an early-stage venture capital firm with a strategic focus on technology within the global travel and transportation industry. Thayer prioritizes early-stage b2b companies but selectively looks at seed and later-stage deals with selective b2c activity. Currently, Thayer Ventures manages four active investment vehicles with over $100 million in capital and over 20 active portfolio companies.
SOURCE NoiseAware
