Kera
Pre-seed · Property management is the wedge
Skimmable
Property management is only the beginning.
Kera starts as the operating system for SMB property managers and landlords. Every operator who joins invites their owners, tenants, and vendors. That invitation graph is the business.
Operators pay for software today. The people they invite become a five-sided network. The network monetizes through partnerships and marketplaces that scale with leases, not with seats.
Round objective
Prove repeatable SMB PM acquisition, turn on the first marketplace, and sign the first two partnerships so the next round is priced on network metrics.
The Problem
Rental operations still run on a patchwork of tools.
SMB property managers and hands-on landlords stitch together inboxes, spreadsheets, listing sites, e-transfer, and manual reconciliation for leasing, rent, maintenance, documents, and owner reporting.
Leasing
Vacancy, screening, applications, and follow-up spread across listing sites, email, and paper.
Operations
Maintenance, vendor coordination, documents, and owner reporting handled by hand.
Finance
Rent collection by e-transfer, reconciliation in spreadsheets, audit anxiety at tax time.
Incumbents like Yardi, Buildium, and DoorLoop are priced and designed for larger US operators. SMB teams face a bad choice between enterprise software they do not fit and stripped-down tools that remove critical workflows.
The deeper problem
Every party is disconnected. Tenants re-enter identity at every move. Owners get PDF reports. Vendors chase work by phone. Nobody owns the relationship graph.
Market Opportunity
Canada has five million renter households and no network connecting them.
Statistics Canada, 2021 Census
IBISWorld, 2025
IBISWorld, 2023
CMHC, 2025
Software wedge
Operator subscriptions
34.6K PM businesses plus hundreds of thousands of small landlords who manage their own units. Kera prices for the SMB segment the incumbents skip.
Network layer
Every lease is a revenue event
Each of the 5.0M renter households generates screening, insurance, a move, a payment stream, and maintenance demand every year. That is where partnership and marketplace revenue lives.
Beachhead
Ontario first
1.55M renter households and the largest PM cluster in the country. Advisors and first customers are already here.
Sizing uses public Statistics Canada, CMHC, and IBISWorld figures. Bottom-up SAM and SOM math is in the data room.
Why Now
The rental market just flipped, and the cost of building software collapsed.
01
Renters now compete less, operators compete more
National vacancy rose from 2.2% to 3.1% in 2025 and turnover rents fell in most major centres. Landlords and PMs now need marketing, retention, and tenant discovery tools, not just rent collection.
CMHC Rental Market Report, 2025
02
Record supply needs managing
About 100K purpose-built units are under construction and condo projects are converting to rental. Every new unit needs leasing, screening, and operations.
CMHC, 2025
03
The renter base keeps growing
Renter households grew 21.5% in a decade, more than double the growth of owners. One in three Canadian households rents.
Statistics Canada, 2021 Census
04
AI makes full-feature software viable at SMB prices
Incumbent pricing reflects pre-AI build and support costs. Kera can ship every feature to a 10-unit landlord for what a listing upgrade costs.
05
Canadian rails are modernizing
Pre-authorized debit, Interac, and the incoming consumer-driven banking framework make native Canadian payments and personal finance features possible for tenants and owners.
The Solution
One operating layer for the operator. One portal for everyone they invite.
Kera packages leasing, payments, maintenance, documents, accounting, and owner reporting into one daily system for SMB PM teams and landlords. Every feature is included on every plan.
Leasing and screening
Listings, applications, screening, AI lease generation, and e-signature.
Rent collection
Card and pre-authorized debit with payouts to the operator's own account.
Maintenance and vendors
Ticket intake, assignment, status tracking, and vendor coordination.
Trust-ready accounting
Owner statements, reconciliation, and close workflows built for Canadian operators.
Documents and compliance
Provincial forms, notices, and deadlines inside the workflow.
Portals for every party
Owner, tenant, and vendor portals that ride on the operator's data.
Today
Operator subscriptions for PMs and landlords, with owner and tenant portals live.
Next
Vendor operations, personal finance for owners and tenants, and the three marketplaces.
The Network Thesis
Every operator seat invites the rest of the network.
Kera does not have to acquire owners, tenants, or vendors. Operators invite them to get work done. That is the loop we are betting on.
Invitation loops
1 → 300+
One PM seat to network participants
Observed from Kera's first PM cohort: one account, 100+ properties, 200+ tenants, plus owners and vendors
Five portals
Property manager
Operations subscription
Landlord
Operations subscription
Vendor
Operations subscription
Owner
Personal finance subscription
Tenant
Personal finance subscription
Five portals, one graph. The operator pays for software. The network pays through partnerships and marketplaces.
Traction
Small, real, and the shape of the network is already visible.
Revenue is early. The operational shape matters more: operators are paying, they are onboarding supply in bulk, and they are inviting tenants and owners without Kera spending on acquisition.
Revenue
MRR dipped in June when an early cohort churned, then more than doubled by September on Enterprise seat growth.
September 15, 2026 Stripe pull. Subscription figures are normalized from active Stripe subscriptions (USD model basis). Kera bills in CAD and USD; CAD-billed seats are shown at their USD list price.
Network shape
The early book is concentrated in one PM cohort, which is normal at this stage and shows how much one operator can bring.
Payout accounts from Stripe Connect. Properties and tenants are company-reported, September 2026.
Current Landscape
Everyone owns one side. Nobody owns the graph.
| Player | PM operations | Landlord operations | Tenant portal | Owner portal | Vendor network | Marketplaces | Canadian workflows | Gap |
|---|---|---|---|---|---|---|---|---|
Yardi Breeze · Buildium · DoorLoop PM software | ✓ | – | ✓ | ✓ | – | – | – | US-first, priced for larger operators, no network layer. |
Rentals.ca · Kijiji · Zumper Listing sites | – | – | ✓ | – | – | ✓ | ✓ | Discovery only. No operations, no identity after move-in. |
HomeStars · Angi · Jiffy Vendor marketplaces | – | – | – | – | ✓ | ✓ | ✓ | No rental context. Leads are bought, not earned from tickets. |
SingleKey · Certn Screening | – | – | – | – | – | – | ✓ | Point solution, one transaction per lease. |
Kera Rental network | ✓ | ✓ | ✓ | ✓ | ✓ | ✓ | ✓ | Operator wedge that grows into all five portals and three marketplaces. |
The gap is not a missing feature. It is that no one has the operator as the acquisition channel for every other party.
Business Model
Operators pay for software. The network pays per lease.
Subscriptions are the floor and fund the wedge. Partnership and marketplace revenue scales with leases on the platform, not with seats sold.
Operator subscriptions · live
Foundation
Landlords, 1–10 units
$12/mo
Free tier used for onboarding
Expansion
Landlords, 11–25 units
$24/mo
Annual $216
Scale
Landlords, 26–50 units
$42/mo
Annual $384
Enterprise
PM teams, 51+ units
$14/seat/mo
Annual $150 per seat
Live Stripe price catalog, September 2026. USD list prices; CAD billing available.
Network revenue · per lease
Tenant screening
Round 1 · Per application
$2.50–$20 margin per report
Renters and landlord insurance
Round 1 · Per policy per year
$15–$60 per policy
Lending referrals
Marketplace 3 · Per funded referral
$250–$500 per file
Vendor and PM leads
Marketplaces 2 and 3 · Per qualified lead
TBD
$20–$80
Illustrative network revenue per lease per year
Network estimates are drafted from public benchmarks and are assumptions until partnerships are signed.
Team & Advisors
Founders across product, design, and commercial. Advisors who run the customer.
Co-Founder & CEO
Jason Matthews
Founder-operator building Kera from firsthand exposure to rental operations pain across family landlords, agents, and local markets.
Co-Founder & CPO
Sagar Patel
Product and design lead focused on turning operational complexity into software that small teams adopt without training overhead.
Co-Founder & CCO
Rob Sutherland
Leads commercial operations with experience across three successful exits, owning partnerships, pipeline, and close execution.
Product advisory board
Operating property managers and brokerages who use the product, shape the roadmap, and open their networks.
North Simcoe Property Management
Property management · Simcoe County, York, Peel, Muskoka
Realty and property management · London and Southwestern Ontario
Realty and property management · Niagara Region
The Ask
Raising $1.5M on a $10M post-money SAFE.
Prove repeatable SMB PM acquisition, turn on the first marketplace, and sign the first two partnerships so the next round is priced on network metrics.
$675K
45%
Product & Engineering
Accounting depth, migration reliability, vendor and personal finance portals, marketplace 1 and 2.
$525K
35%
Commercial Team
Outbound, partnerships, PM pipeline, and close execution under Rob.
$300K
20%
Operations Infrastructure
Payments, screening and insurance integrations, reporting, implementation support.
18 months runway · Currently raising; not closed.
Milestones this round buys
Month 6
$100K ARR, 35 PM accounts, tenant and owner portals activated across the base.
Month 9
Marketplace 1 live in Ontario. First screening partnership signed and generating per-lease revenue.
Month 12
$500K ARR. Vendor portal live, insurance partnership signed, marketplace 2 in beta.
Month 18
Owner-finds-PM marketplace live. Seed round raised on network metrics.
jason@getkera.com