INSUBCONTINENT EXCLUSIVE:
TFLiving, looking to bring amenities to residential and commercial spaces, has today announced the close of a $4.8 million seed financing
Courtside Ventures, and other strategic investors, also participated in the round.TFLiving uses technology to connect service providers,
like massage therapists, yoga instructors and dog walkers, with property managers and their residents
The service allows residents to sign up for classes or services, as well as request other community events or services, directly from an
app.The most popular use case of the service is fitness, both classes and individual trainings, but TFLiving offers a relatively broad
After checking out the building, TFLiving determines if there is any under-utliized space in the building, such as a rooftop or a vacant
interested in via the app, which then serves up options from actual service providers on the service within the guidelines of the property
the platform is highly customizable
Who pays is a question that can be answered by the property manager
If the building has a huge budget for community engagement and the property manager sees value in offering five classes/month and unlimited
on-demand massage, they can choose to do so
The property manager can also grant TFLiving access to the building without paying a dime, passing on the full cost of the service to
residents.In most cases, property managers will foot the bill for community events, while residents pay for their own individual services
at an affordable cost within the budget of the property and based on demand from the residents.TFLiving also allows property managers to
mark up the class or service and keep a cut of the profit
individual personal training in the on-site gym, that property manager can mark up the cost of fitness classes by 20% and generate some
providers to users in the fitness space, TFLiving does not dynamically price its various classes and services based on popularity or quality
Fitness classes, for example, are always between $50 and $80, with geography being the main determining factor on specific price.The company
declined to share the revenue breakdown between the company and service providers, but noted that it varies by vertical and that service
providers receive a majority of the revenue.TFLiving currently has agreements with properties across 29 states, with contracts at more than
800 properties, soon covering more than 200,000 units.Wirt says that he sees the potential to implement TFLiving in commercial spaces as
well, such as offices.Moreover, TFLiving has worked on the tech side to be as useful, not necessarily as prominent, as possible
TFLiving integrates with a variety of property management platforms, from mobile doorman apps to platforms for paying rent to maintenance
Residents using those apps can request and book TFLiving amenities straight from those platforms.
