Colleen, the Artificial Intelligence (AI) platform optimizing payment collections for multifamily real estate business, announced today that it has raised $3.5 million in Series Seed funding. The round was led by Wilshire Lane Capital, an early-stage venture capital firm backed by Morgan Properties (the third largest NMHC multifamily apartments owner in the U.S.), with participation from Skybox Capital, owner of residential companies Magnolia Capital and National Home Rentals. Having identified value in Colleen, Morgan Properties, Magnolia Capital, and National Home Rentals are also existing customers.

Colleen is the AI-powered, integrated platform solution optimizing rent and debt collections for multifamily property managers and residents. By offloading the payment collections process and proactively engaging residents, Colleen saves property teams time, accelerates operational efficiency, and boosts the bottom line.