Trustay
Category: AI in PropTech / Smart Living
A hyper-connected residential platform company using proprietary AI (Nocki AI) to digitize apartment management and smart-city operations. Trustay was founded in 2021. The company is led by Lee Seung-oh (이승오). Based in Seoul, South Korea. Team size: 51-100. Total funding raised: $23.5M. Latest round: Series B. Key investors include Yanolja (majority shareholder, 53.75%), Hana Financial Group, KT Estate (founding JV partner, exited), Samjung KPMG (Series B arranger).
- Founded
- 2021
- Headquarters
- Seoul, South Korea
- Team size
- 51-100
- Total funding
- $23.5M
Value proposition
Trustay operates a hyper-connected residential platform (Knocktown) that integrates apartment management, community services, local commerce, and AI-powered safety/security into a single app. Its proprietary AI brand 'Nocki AI' includes On-site AI (learning complex-specific data), Nocki Vision (computer vision for fire/safety monitoring), and Hyper-Connect AI (IoT-connected living space control). The company differentiates by focusing on offline/real-world data rather than online LLM data.
Products and solutions
Knocktown (nocktown) - integrated residential management app, Nockzone (노크존) - community facility management, Nockplace (노크플레이스) - local commercial networking, HomeKnock (홈노크) - asset/rental management platform, heyy - smart co-living, Nocki AI - proprietary AI brand (On-site AI, Nocki Vision, Hyper-Connect AI), Town Market - resident-only e-commerce
Unique value
Offline AI that learns apartments and cities — using proprietary residential operational data (management fees, complaints, access control, facility usage) to build a defensible vertical AI platform for apartment and smart-city management, unlike generic LLM-based AI companies.
Target customer
Apartment complexes (management offices & residents), property owners/landlords, co-living operators, local small businesses, smart-city operators (B2B2C model)
Industries served
Residential property management, Proptech, Smart cities, Community living services, Real estate asset management
Technology advantage
6 AI patents including AI-based real-time license plate monitoring (RCVA) and AI-based fire detection system with 5-stage alarm. Proprietary residential operational data from 1,200+ complexes. Yanolja's cloud PMS technology foundation. Nocki AI with three pillars: On-site AI, Nocki Vision (computer vision), and Hyper-Connect AI (under development).
How they differentiate
Unlike LLM-based AI companies that focus on online data, Trustay uses proprietary offline residential data (management fees, complaints, facility usage, IoT sensor data) to train its AI. The company has 1,200+ contracted complexes and 1.1M+ households on its platform, creating a defensible data moat. Its Hyper-Connect AI vision integrates IoT, CCTV, access control, and smart devices to control physical living spaces.
Main competitors
Sosoric Korea (소서릭스코리아) - smart home automation, Blue& (블루앤) - apartment access control, Appart (아파트너) - similar residential platform, local apartment management apps
Key partnerships
Yanolja (majority shareholder, 53.75%), KT Estate (founding JV partner, exited), Hana Bank (rental payment automation), Samsung Electronics, Commax (smart home partnership), Big Value (strategic partnership), Artiwells (joint tech development), Incheon City (public-private MOU), MaeilSaeot (laundry service), Nol Universe (travel services), Akis Sketch (AI interior design), ASECH Indonesia (smart city MOU)
Notable customers
1,200+ apartment complexes across South Korea (including premium complexes like Seoul Forest Trimaje), 1.1M+ households using the platform, 1M+ users on Knocktown+Nockplace (Feb 2026), Mongolia Darkhan city (smart city pilot, MOU signed Apr 2026), Indonesia PT Perumnas (160K household scale PoC), Indonesia ASECH (smart city MOU)
Major milestones
2021.03: Founded as JV between Yanolja and KT Estate, 2022.05: HomeKnock (asset rental management) launched, 2023.09: HomeKnocktown (integrated residential management) launched, 2023.12: Lee Seung-oh appointed CEO, 2024.12: Nockplace (local commerce platform) launched, 2025: Rebranded to Knocktown/Nockzone/Nockplace, 2025: 1,200+ complexes, 1.1M+ households, 2025.08: Targeting ₩30B Series B, 2026: Nocki AI brand launched, 2026.02: 1M users on Knocktown+Nockplace, 2026.04: Mongolia Darkhan smart city MOU signed, 2026.04: Dahari partnership (250+ complexes)
Growth metrics
1,200+ contracted complexes; 1.1M+ households; 70 employees (as of Apr 2026); 1M+ users on Knocktown+Nockplace (Feb 2026); 98% resident satisfaction rate; 50+ service features in Knocktown app; targeting 2,000 complexes by end of 2026
Market positioning
Leading hyper-connected residential platform in South Korea, transitioning from proptech to AI-powered smart-city infrastructure provider. Positioned as an 'offline AI' company distinct from online LLM-focused AI firms. Expanding to Mongolia and Indonesia for smart-city projects.
Geographic focus
South Korea (primary), expanding to Mongolia (Darkhan smart city, MOU signed Apr 2026), Indonesia (with ASECH and PT Perumnas, 160K household PoC), and broader Southeast Asia
Patents and IP
6 AI patents including: AI-based Real-Time License Plate Monitoring Control System (RCVA); AI-based automatic fire detection system with 5-stage alarm (detection-analysis-alarm-reporting-post-reporting). Won Innovation Patent Technology Grand Prize for AI fire detection technology.
About Lee Seung-oh (이승오)
Ex-Deloitte Consulting Business Researcher; Ex-Samsung Electronics MSC Service Planning/Strategy Planning; Co-founder of Oceans People and Now Busking; Head of Strategy at Apartner; CPO at Trustay before becoming CEO. University of Manchester (Business & Economics).
Official website: https://www.trustay.me