BOSTON, MA, June 9, 2022 – AI Lean today announced the successful close of a $1.9 million round of investment led by Launchpad Venture Group. The investment will be used to grow the customer success team of the company and invest in product innovation.
AI Lean uses artificial intelligence and lean process design to streamline the cumbersome task of managing lien property sales in the growing self storage industry. AI Lean is a Software as a Service (SasS) platform delivering an integrated tenant communication solution that provides compliance for storage liens.
Self storage liens are a source of liability and operational distress for storage operators. Until now, only the industry’s largest REITs could leverage technology to manage business risk and labor demands presented by the lien to auction process. AI Lean puts an AI-enabled solution into the hands of mid-sized self storage operators – those with 10 to 200 plus locations – to simplify this risk-filled facet of their business.
“AI Lean is a unique SaaS company in that it improves cash flow, increases revenue and lowers risk. That is rare,” says Ian Levine, a member and growth advisor with Launchpad Venture Group. “We are excited to see the growth of AI Lean in self storage and identify other verticals where it can adapt to be invaluable with the anticipated recession economy.”
California-based Crescendo Self Storage Management implemented AI Lean at its Shield Storage brand in five states.
“To most people, managing liens doesn’t seem like the most important work, but it can be a giant landmine,” says Marshall Calvert, director of lien law operations for Crescendo Self Storage Management. “Now I don’t have to worry about it at all. I can pay attention to marketing and other things.”
Joining Launchpad Ventures in funding AI Lean’s solution for efficiency and compliance are investors from the Innouvo Capital Network, a Boston-based venture studio, and Beacon Angels, which invests in early-stage, fast-growing companies.
“Self storage is experiencing tremendous demand and simultaneously going through digital transformation very rapidly,” says Alistair Schneider, CEO and co-founder of AI Lean. “We are happy to be part of the ecosystem with our focused solution.”
The AI Lean solution integrates tenant communications and complements the offerings of such industry leaders as Storable, Sitelink, StorEdge, Storage Auction, Self Storage Auctions and more. AI Lean works with front-end and back-end software providers to off a full-fledged end-to-end auction solution.
“AI Lean works for self storage operators who are looking for smarter ways to manage their operations, especially in times of staff shortages and higher technology-driven competition,” says Victor De Las Casas, AI Lean’s Head of Sales and Marketing. “Our SaaS utilizes a single digital dashboard from which to view and monitor all accounts receivable communication.”
About AI Lean
AI Lean brings greater business efficiency and value to self storage operators by automating the lien to auction process. Using an AI-enabled SaaS solution, AI Lean simplifies the cumbersome task of managing delinquent tenant accounts from notification and advertisement through to auction. Since launching in 2020, Boston-based AI Lean has emerged as a trusted partner in self storage, bringing the benefits of automation to a rapidly growing commercial real estate sector.
About Launchpad Venture Group
Launchpad Venture Group is a Boston-based angel investment group that provides funding to early-stage companies. Launchpad looks for innovative, technology-driven startup companies addressing a significant market opportunity where investment can make a difference. Launchpad Venture Group is the largest angel investing group in the Northeast with a broad base of very active members coming from a variety of backgrounds and professions, including the technology, financial service, industrial and life science communities.
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