Knock, the CRM platform for multifamily property management companies, has raised $20 million in growth funding. The round was led by Fifth Wall and includes participation from existing investors Madrona Venture Group, Lead Edge Capital, Second Avenue Partners and Seven Peaks Ventures. Vik Chawla, Fifth Wall partner, will join Knock’s board of directors.

This brings the company’s total capital raised to $47 million. Knock will use the investment to continue expanding its team and product portfolio, including centralized sales and leasing management, virtual and self-guided touring, AI communications, fraud prevention, applicant screening and leasing, and intelligent forecasting.

“The macroeconomic environment is driving institutional capital into multifamily real estate at an accelerated pace,” said Chawla. “With asset prices increasing in response, operators need to improve yield and maximize operational efficiencies.”