January 14, 2016— In 2013 I departed my role in commercial real estate Private Equity to build Rentlytics. I partnered with Phil Plante, and together we conceptualized how we would change the multifamily industry. Just recently, we reached a very important milestone in our business that we are delighted to announce today: Rentlytics has closed on a $9.1M Series A financing. This represents one of the largest pure-play technology investments in multifamily history and signals the market is ready for the Rentlytics platform.
A Quick History
Prior to starting Rentlytics, I spent years in the commercial real estate industry, cutting my teeth in the same roles as our customers. At the time, we were trying to optimize our assets through spreadsheet analysis and outmoded database technology. We struggled to synthesize the massive, fragmented datasets produced in our portfolios. As result, we flew blind, scrambling to manage billion-dollar portfolios with incomplete information. From owners to operators, a mutual frustration existed everywhere: disparate data. The traditional response — adding analysts and scaling IT departments — was not enough. The challenges were clear, though no company existed to innovate and solve for them.
Since Day 1, our model has been straightforward: Rentlytics integrates world-class engineering talent with real estate expertise to build technologies that address the needs of modern asset management. We set out to build solutions that connect real estate organizations with the data they need to enhance decision-making.
After two years of product development and beta testing, Rentlytics formally launched in January 2015. We’ve been sprinting since, finding traction with diverse industry players and nearly doubling our revenue every month. Rentlytics has become a unifying force in the industry — helping multifamily organizations streamline their business within a single platform.
The Series A
Our Series A has been led by a strategic investment from Walker & Dunlop, a national financial services firm specializing in the multifamily vertical. Walker & Dunlop asset manages and services loans on over 4,700 properties. Their broad reach and market expertise are unmatched, and they’ll make for a fantastic partner as we move into 2016 and beyond.
Also participating in the round in a big way are some of our excellent existing investors, Grey Wolf Venture Capital, and several other noteworthy industry executives.
What This Means For Rentlytics
While 2015 saw us enter the market, this new funding will be deployed to help us expand our market reach and enhance product functionality.
2016 will see us integrate new data sources into our core platform, roll out enhanced collaboration tools, build entirely new products, and leverage technologies that allow our customers to explore their data in ways never before possible in real estate. As always, our emphasis will be on delivering elegant solutions that are both intuitive and functional.
To power this development, we will add more than 30 people to the Rentlytics team over the next 12 months. From engineers and data scientists to real estate analysts and sales professionals, Rentlytics will continue to bring in the right talent to build the solutions that shape data practices in our industry.
For those of you reading this that find yourself at the intersection of real estate and technology, join us. To everyone else, I want to convey the sincere appreciation I have for your support as we continue to grow the Rentlytics platform. I would like to say thank you to the Rentlytics team and their family members, thank you to our existing and new investors, advisors, and partners and — most importantly — thank you to our Customers. As we prepare to grow through 2016, I find the most inspiring part of our story to be the community that Rentlytics has catalyzed.[button href=”https://medium.com/@justinalanis/announcing-our-series-a-f3af9f25458c#.dlj16l1xi” style=”emboss” size=”medium” color=”#1e73be” hovercolor=”#81d742″ target=”_blank” icon=”external-link-square”]Source: Medium[/button]