Proper Raises $9M in Series A Funding


Proper, a San Francisco, CA-based automated accounting and bookkeeping service for property managers, raised $9m in Series A funding.

The round, which brought the total amount raised to $13.8m, was led by QED, with participation from existing investors MetaProp, Expa, and Bling Capital, In conjunction with the funding, Matt Risley, partner at QED, joined Proper’s board.

Led by Mark Rojas, founder and CEO, Proper provides property managers and asset managers with an automated accounting & bookkeeping service, which includes accounts payable, bank reconciliations, accounts receivable, and owner payments and statements.

The company intends to use the funds to investment to accelerate the development of its automated accounting technology, build a new customer-facing platform, and hire strategic talent across all functions. Throughout 2020, the team grew from 15 employees to 92, and in the first half of 2021 has already increased to 120, with plans to end the year with around 200 team members. Hiring priorities include leadership for Operations, Sales, Marketing, HR, and Recruiting.