🦄 Sugar: Build your apartment community

🦄 Unicorner Startup of the Week: Sugar

✍️ Notes From The Editors

As apartment residents, we understand the pains of communicating with your fellow tenants. Between chaotic group chats and notes left on doors, there’s little room for productive and efficient discussions. Sugar is looking to fix this while also making the lives of property managers easier. Hope you enjoy, and be sure to forward this article to your landlord!

- Arek and Ethan 🦄

Build your apartment community

Sugar wants to help develop apartment communities. Its platform, which consists of a mobile app for tenants and a web dashboard for building managers, offers features like an event calendar, a resident marketplace, and a community forum. Managers can also use Sugar to distribute digital apartment keys and monitor apartment ratings on the web with reviews from sites like Google and Yelp.

🔗 Check them out: sugarliving.com

💰 Business Model

The company charges property managers a fee for using its platform. The fee is different based on the property type being managed.

📈 Traction and Fundraising

Raised $2.5 million seed from MetaProp, Agya Ventures, Concrete Rose, Debut Capital, The Community Fund, Consonance Capital, Lightspeed Venture Partners, LAUNCH (Jason Calacanis), and angels like Jonathan Wasserstrum, Ben Zises, Diran Otegbade, Oleksiy Ignatyev, and Claire Cormier Thielke
Achieved six-figure ARR within four months of its launch in 2020

👫 Founder(s)

Fatima Dicko, CEO: Previously Founder & CEO @ mybestbox, Senior Product Engineer @ Procter & Gamble, MBA @ Stanford, Chemical Engineering BS @ Columbia

💼 Opportunities

Be sure to mention you came from Unicorner when applying!

🔮 Our Analysis

Sugar isn’t the first apartment management platform for building managers. However, most available solutions focus solely on helping managers keep track of tenants and rent. By instead emphasizing community throughout its platform, Sugar stands out in a sea of SaaS offerings in the PropTech space. The idea initially came to CEO Fatima Dicko after the start of the pandemic. During lockdown, it became hard to communicate with people next door, and neighbors grew increasingly distant. Through features like a shared event calendar for apartment events and a marketplace for trading and selling items, Sugar’s community management platform brings people together. The additional property management features, like integrations with keyless access software and apartment review monitoring, make Sugar a truly comprehensive option for all members of an apartment community.

📚 Further Reading

Sugar raises $2.5M in seed funding to connect apartment residents [TechCrunch]

Written by the editors

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🎁 Bonus Content!

We’re in the midst of the Great Resignation—people all across the U.S. have begun leaving their jobs to pursue other (often greater) prospects. One of the largest groups of job-hoppers is actually Gen Z, a group that will occupy roughly 33% of the U.S. labor force by 2030. Read more about the stats and their implications from Axios.

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🦄 Sugar: Build your apartment community

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