Propify

Propexo, formerly known as Propify and RentDrop, develops a unified Application Programming Interface (API) for the property technology sector. The company's platform acts as a universal translator, enabling software companies and property managers to integrate with multiple property management systems (PMS) through a single, modern REST API. This solution is designed to reduce integration time from months to weeks, saving on development and maintenance costs. Propexo serves technology companies that cater to the property management industry, allowing them to connect their applications for services like rent collection, leasing, and maintenance with the legacy software systems used by property managers. The business model is B2B SaaS, with revenue generated through tiered monthly subscriptions based on usage, with packages aimed at different scales from early-stage startups to enterprise-level companies.

The company was founded in 2022 by Remen Okoruwa (CEO), Ben Keller, and Nick Johnson. It was part of Y Combinator's Winter 2023 batch. The founders' journey began with a previous venture called RentDrop, a rent payment app. They experienced firsthand the challenge of integrating with the fragmented and often legacy systems used by property managers, which limited their growth. This direct pain point led to a pivot in the fall of 2022 to create Propexo, focusing on solving the integration problem for the entire proptech industry. Co-founders Remen Okoruwa and Ben Keller had previously worked together at HubSpot, while Nick Johnson brought his technical skills to the team. On October 10, 2023, the Boston-based startup announced a $3.3 million seed funding round with investors including Fifth Wall, Prudence, and Y Combinator.

Propexo's core product is a unified API that provides a standardized data model for objects like properties, residents, and vendors, allowing developers to read and write data across different PMS platforms consistently. Key features include comprehensive and modern documentation, webhook support for real-time data synchronization, and scalable infrastructure. The platform supports integrations with major multifamily rental management software like RealPage, Entrata, and Buildium. By abstracting the complexity of legacy systems, often characterized by SOAP APIs and poor documentation, Propexo enables its clients to focus on their core product development rather than on maintaining numerous, brittle integrations.

Keywords: unified API, property management software integration, proptech, B2B SaaS, API aggregator, real estate technology, PMS integration, REST API, multifamily real estate, commercial real estate, data integration, developer tools, property management systems, Y Combinator, Remen Okoruwa