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Cozy raises $8.4M to fuel growth of property rental management platform

Portland-based Cozy announced an $8.45 million funding round that will help the startup grow its property rental management platform.

American Family Ventures, the VC arm of American Family Insurance, led the Series B round, which included participation from all Series A investors, including Social Capital, General Catalyst Partners, Seven Peaks Ventures, angel investor Jason Calacanis, and others.

Total funding for Cozy is now past $18 million.

Cozy helps landlords in all 50 U.S. states screen tenants, check credit, and collect rent money online — both from desktop and mobile. The company offers its service for free to both landlords and tenants, but does charge for credit reports and background checks.

There are more than 100,000 Cozy-managed properties in 11,500 zip codes across the U.S., with more than 60,000 property managers and landlords using the service. Cozy grew by 900 percent in 2015, and has tripled its business this year.

Features like document signing and storage, income and expense tracking, and mobile apps are “coming soon,” according to the company’s website.