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Founded by Mayank Pokharna and Subbu Athikunte, JumboTiger is a real-time, collaborative, configurable, new-age property management software that brings multiple features from different apps and software into one platform and contextualizes it for property management of the future. The product developed by JumboTiger is set to go live on 1st Sept 2021 for public use, hurry up to its website & sign up for early access!
Meanwhile, tag along and read the story behind the ideation of JumboTiger, it is something you can't miss! Know How JumboTiger came into being, its features, business model, future plans & more. StartupTalky interviewed Mr. Mayank Pokharna to get insights on the journey & growth plans of JumboTiger.
JumboTiger - Company Highlights
| Startup Name | JumboTiger |
|---|---|
| Founders | Mayank Pokharna, Subbu Athikunte |
| Headquarters | Bangalore |
| Founded | 2020 |
| Industry | Proptech, Property Management Software |
| Website | jumbotiger.com |
About JumboTiger
Founders Shift from SimplyGuest to JumboTiger
Ideation Journey & Launch of JumboTiger
JumboTiger - Founders and Team
How JumboTiger Works?
JumboTiger - Business Model and Revenue Model
JumboTiger - Funding
JumboTiger - Future Plans
JumboTiger - FAQs
About JumboTiger
JumboTiger is built on real-time technology (Elixir and Erlang), which opens a lot of different possibilities for the field of property management like easy IoT integrations, better collaborations, live staff management, etc. thus, bringing the physical world operations closer to the digital software world, which is the need of the hour.
JumboTiger also brings in many features from different apps and puts it right at the core of property management software like inspections, communication, community apps, etc. This expands the whole property management system horizon and enables deeper insights and better control for any operator and property manager.
Founders Shift from SimplyGuest to JumboTiger
Mayank & team started SimplyGuest as a shared living business in 2015 with a wide variety of portfolio properties: student housing, housing societies, condos, coliving, hostels, single-family, multi-family, and purpose-built accommodation. SimplyGuest started with the idea of aggregating shared living spaces. They realized huge gaps and created a service solution with the intersection of apartment rentals and paying guest facilities, which later became coliving. They were doing close to $1mn in yearly gross revenue and were bootstrapped. But with the pandemic, a different set of challenges came for an operationally heavy business like SimplyGuest.
The occupancy started falling as people were moving to their hometowns. The homeowners were not ready to part with any revenues; they were on a master lease model and had to slowly give away possession of the properties to keep SimplyGuest alive. They still kept it running throughout 2020 in the hope that the pandemic will be over soon, that didn't! While this was happening, Subbu and Mayank started toying with different ideas on making this business work.
During the same time, a building owner reached out to them after reading blog.simplyguest.com, where Subbu used to write about the technology they had been building for the last 5 years of running SimplyGuest. In addition, he used to write in-depth analyses on how the future of living is service and technology-driven. Finally, the owner asked Mayank & Subbu for the software they had built; this was their eureka moment.
Mayank & Subbu started exploring the gaps in property management and coliving software domain in the mid of 2020 and looked at the USA, Europe, and UK markets. They spoke to about 70 different property management and coliving operators from across the world. All the existing software was built on older tech stacks; the market's needs had been changing in recent years, and with a lot of newer technologies at disposal, there was a need to overhaul the property management software space, and thus, JumboTiger came into being.
It took them around 6 months to build the MVP, and they did a live launch of the beta product on 16th February, which 220 people from 30 different countries attended. Mayank & Subbu showed everyone what the future of property management software would look like. The initial response to the product has been great, and since then, they are working with 7 different customers in beta and developing the product, which is going live for public use on 1st Sept 2021.
The revenues funded the initial development of JumboTiger they were generating from SimplyGuest; they decided to keep it bootstrapped. However, Mayank & Subbu had a couple of funding opportunities. Property management is one of the oldest professions, and real estate is one of the biggest asset classes with a value of more than 1.4tn dollars, but still, it's one of the laggards in terms of technology usage. The team believes that it will require patience to get people used to the newer technologies right from the start of their business cycle. Hence, remaining bootstrapped was a conscious choice to keep developing a product with depth.
“Real estate technology is behind the curve when it comes to property management. However, with the new technologies available, we can change and enhance property management; JumboTiger is our take on that. It brings together real-time tech, collaboration, different feature sets, etc., to make property management more efficient” says Mayank
Vidhi Punamiya
Ideation Journey & Launch of JumboTiger
With SimplyGuest, they were a mid-sized property management firm handling shared living, coliving, student housing, and single-family properties. While Mayank & Subbu were doing that, they searched for a software platform that could help them manage these different asset classes under one roof. After researching for more than a year in 2016, they started building something of their own based on-ground experience and business problems.
SimplyGuest provided with all the practical use-case, which started taking the shape of features, ultimately turning into a full-fledged property management software. But till 2020, they were the only user of the tech they had built. It changed everything when a landlord asked if he could use what they have built to manage his space.
This was their eureka moment. This pushed Mayank & Subbu to explore and study the gaps in the property management software domain across different markets. They did 6 months of research and found out that the technology they had been developing solves a much larger use case and can be used by property management companies and coliving operators across different geographies.
They then kept on developing what took the shape of JumboTiger with the 16th Feb 2021 beta launch, where 220 people attended it from 30 different countries. They launched beta with 7 people from different geographies to build a geography agnostic configurable product. JumboTiger has more than 50 people on its early access waitlist waiting to use the product, which is launching for the public on 1st Sept 2021. It's a real-time, collaborative, configurable, new-age property management software that brings multiple features from different apps and software into one platform and contextualizes it for property management of the future.
Gorish Dua
JumboTiger - Founders and Team
Mayank Pokharna and Subbu Athikunte are the founders of JumboTiger.
Mayank was the 5th customer of SimplyGuest in 2015 and started helping out Subbu in sales and marketing. This lasted for about two years till 2017 when Mayank joined SimplyGuest full-time as a co-founder. Both of them scaled SimplyGuest to about 500 tenants and a $1mn in gross revenues. The same team founded JumboTiger. They hired few interns at the start, and one of them is now the full-time employee taking care of all things development with Subbu. The team is building JumboTiger on erlang and Elixir, and hence finding initial resources was a challenge.
Mayank Pokharna | Co-founder, JumboTiger & SimplyGuest
Mayank, 31, did his engineering, followed by an MBA from Nirma, Ahmedabad. He worked with high-growth startups such as Practo and Cuemath before joining SimplyGuest full-time. He single-handedly maintained occupancy of 98% at SimplyGuest and take care of sales, marketing, brand, and everything business at JumboTiger
Subbu Athikunte | Co-founder, JumboTiger & SimplyGuest
Subbu, 43, is a software engineer. He worked on distributed systems, databases, analytics, and UI at Apigee. He designed some key analytics infrastructure. Google acquired Apigee. He has more than 20 years of experience in tech and takes care of all things product and engineering at JumboTiger.
Ritvik | Software Developer,JumboTiger
Ritvik, 23, started as a JavaScript programmer with JumboTiger as an intern while still in college. Now his hands run deep across the product stack and take care of all the developmental work.
How JumboTiger Works?
Anyone with a residential rental portfolio can come to the jumbotiger.com website, sign up and create an account. You will be redirected to set up your account and configure it to suit your business operations. The software comes with sensible defaults, and you can select the country to load all defaults and then change it as per your requirements.
Some of the functionalities in the JumboTiger property management system are -
Marketing/ Sales
- Generate SEO friendly marketing websites based on the PMS (property management software) data
- A powerful self-scheduling tool that syncs your leasing agent's calendar with incoming requests for showing/viewings.
- The completely white-labeled solution to enhance your end-user experience.
Tenant/ Community Management
- Take tenant applications, onboard tenants, and manage documentation and agreements.
- Tenant portal for payments, expense tracking (tenants) issue management, remote move-ins & move-outs, profile, and documents management.
- Host and manage community events using the tenant portal. Book facilities, talk to other residents, download invoices, and raise issues.
Operations (Inventory, Maintenance, Inspections, Work Order, & Control Centre, Communications)
- Onboard large properties within minutes with an onboarding wizard.
- Manage all your operations, communications, and issue/ ticket management from a slack like-interface called the control room. This is a single screen that lets you manage your complete business once the PMS is set up.
- Set a standard for performance using SLAs, escalation policies
- A rule engine to automate your incoming maintenance/resident requests. (JumboTiger Property Management: SLA management)
- Schedule preventive maintenance tasks and JumboTiger will track these for you. Automate the property management workflows according to your business needs.
- Real-time staff management and move-ins, move-outs, periodic inspections via a staff app. You can also push tasks to on-field staff in real-time using this app.
- Contact the center to manage the PO’s and vendor services
- Ready to go IOT integrations
Rent Payments/ Reports/ Analytics
- Flexible invoicing, expense management, and payments system customized for each country and to your needs.
- Revenue recovery/ dunning to make sure you don't lose on any invoice and take appropriate actions
- Detailed reports/ Analytics on what's happening in your organization.
- Very detailed audit logs to make sure you have visibility of what's going on in your organization.
These are some things that JumboTiger property management software does. When you start using it, you will explore many more use cases. This can help you run a property management business on a single platform without the need for any other software.
Pratyusha Srivastava
JumboTiger - Business Model and Revenue Model
JumboTiger is a SaaS business that works on a subscription model. The use of software starts at $99 to manage up to 20 units and then is charged on a per-unit basis managed on the platform. There is no feature gating, and all features are available to everyone. The rationale behind it is to enable small and medium businesses and set them up for sustainable scale.
JumboTiger is ideal for all-size property management companies, coliving operators, HMOs, letting agents, and anyone managing a rental portfolio and wants to build, manage and grow their rental business.
The SaaS model is pretty standard and has existed for a couple of decades but has been popularized and adopted in the last few years with the availability of better infrastructure and cloud capabilities.
The gross margin for a SaaS business is generally more than 70%-80%, and the customers are charged subscriptions on a monthly, quarterly, or yearly basis.
JumboTiger - Funding
JumboTiger is a bootstrapped startup, and the only source of funds for it is its customers.
Jeenal Jain
JumboTiger - Future Plans
JumboTiger is in this for the long term. It will replace all the traditional property management software and help property management companies and coliving operators build a sustainable and scalable business. The team plans to keep expanding the horizon and scope of property management software with JumboTiger. The next few interesting features that will get added to JumboTiger after its public launch are seamless IoT integrations, Self Serving billing for tenants, and a lot more. So stay tuned to keep getting surprised.
Lastly, JumboTiger wants to remain close to its customers and solve actual problems rather than building features that no one uses. So the team plans to keep listening to its customers and solve their problems via JumboTiger.
JumboTiger - FAQs
What is JumboTiger?
It's a real-time, collaborative, configurable, new-age property management software that brings multiple features from different apps and software into one platform and contextualizes it for property management of the future.
Who founded JumboTiger?
Mayank Pokharna and Subbu Athikunte are the founders of JumboTiger.
When will JumboTiger go live for public use?
JumboTiger will go live for public use on 1st Sept 2021.
Do visit https://jumbotiger.com/ to know more about the company and sign up for early access!
Is JumboTiger Bootstrapped startup?
Yes, JumboTiger is a bootstrapped startup.
How does JumboTiger make money?
JumboTiger is a SaaS business that works on a subscription model. The use of software starts at $99 to manage up to 20 units and then is charged on a per-unit basis managed on the platform. There is no feature gating, and all features are available to everyone. The rationale behind it is to enable small and medium businesses and set them up for sustainable scale.
What is SimplyGuest?
Mayank & Subbu started SimplyGuest as a shared living business in 2015 with a wide variety of portfolio properties: student housing, housing societies & more. SimplyGuest started with the idea of aggregating shared living spaces. The same team co-founded JumboTiger.
Author: Jeenal Jain
Source : https://startuptalky.com/jumbotiger-success-story/
Date : 2021-08-29T17:42:45.000Z