Billee Technologies, an industry-backed comprehensive utility management platform, announced the completion of its Seed financing round. The $9.15 million round was led by strategic investors including RET Ventures, a venture capital firm shaping the future of the real estate industry through close partnership with entrepreneurs and leading real estate operators.
Co-founded by proptech industry veteran and third-time founder John Hinckley, Billee revolutionizes utility billing for the multifamily sector. Billee’s platform leverages artificial intelligence (AI) and automation to overhaul outdated, error-prone utility workflows – eliminating manual processes, improving billing accuracy, and unlocking significant cost savings for multifamily owners and operators.
Utility billing has long been a costly blind spot for owners and operators of multifamily properties. Traditional methods rely heavily on spreadsheets, ad hoc emails and untrained staff to process complex bills, resulting in frequent errors, compliance issues and inaccurate resident charges. Billee tackles these pain points head on by streamlining data ingestion, automatically identifying billing anomalies and ensuring compliance with evolving regulatory requirements. The platform’s agentic AI component also powers real-time resident support and intelligent bill audits – creating a more accurate and transparent billing process.
“At a time when multifamily owners and operators are navigating staffing challenges and ongoing economic pressures, the last thing they need is foregone revenue due to utility billing inaccuracies,” said John Hinckley, CEO of Billee Technologies. “At Billee, we’re using the latest AI-driven technology to modernize one of the most frustrating areas of property management. Partnering with RET Ventures is a major milestone as we continue our growth, and their investment and deep industry ties will help us scale faster and bring even greater intelligence and efficiency to utility billing.”
The platform is already in use across a growing base of multifamily communities. Early implementation results have shown impressive outcomes, with participating properties experiencing up to 52% in cost savings and avoidance. In one early deployment, Billee identified a critical billing error that went undetected for over three years, resulting in nearly $240,000 in annual savings previously missed.
Billee is backed by a founding team with significant experience building and scaling proptech solutions. Hinckley, who previously founded and served as CEO of Modern Message (successfully exited to RealPage) is a first mover in the space and has spearheaded several successful technology startups for the multifamily industry including being the first to deliver text messaging as a software solution to communication and lead management. Many senior leaders from previous ventures have joined him at Billee, bringing first-hand operational knowledge and a shared commitment to innovation.
“At RET Ventures, we’re focused on backing innovation that directly addresses the real challenges property owners and operators face daily,” said John Helm, Partner at RET Ventures. “Utility billing has suffered from a lack of innovation for far too long, and Billee is stepping in to change that with advanced analytics that empower owners to proactively recover lost revenue, make better use of onsite teams and deliver a smoother resident experience – rather than simply react to problems when they occur. John and the Billee team’s track record speaks for itself, and we’re proud to support their vision and accelerate their impact across an industry ready for transformation.”
