PayHOA offers a SaaS central hub for association board members that handles finances, maintenance requests, and community communication for self-managed homeowner associations. Founded in 2018 and based in Kentucky, the 15-person company was previously bootstrapped and reports profitability with positive EBITDA. It has more than 652,000 users, has processed over $1.6 billion in invoices since 2018, and posted year-over-year revenue growth of over 70%. PayHOA charges a monthly subscription based on community unit count, with prices starting at $49 per month for HOAs with 25 units or less. The company recently launched a Payables module that uses OCR to scan and extract invoice data. Planned use of new capital includes product development and hiring, with a target to grow the team by about 40% across engineering, sales, and support; management does not currently plan to expand beyond community management, though property management companies are increasingly signing up.

Total raised

$28M

Funding rounds

1

Latest round

Series A

Latest activity

May 2024