RentSpree, an end-to-end technology solution for the multifamily industry, has secured a Series B funding round of $17.3 million, according to an announcement sent exclusively to Inman.
RentSpree started out in 2016 merely wanting to make it easier for landlords and leasing agents to qualify potential tenants, according to CEO and co-founder Michael Lucarelli. The rental market’s recent surge in rent price and occupancy rates is driving technology adoption among the nation’s landlords, in turn driving RentSpree’s evolution.
“In time, we realized that we were only scratching the surface of unmet needs within the market, such as streamlining marketing, facilitating payments, and helping consumers build wealth,” Lucarelli said in the press release. “With the introduction of new tools and plans for strategic partnerships in today’s hot rental market, it is our goal over the next 24 months to have 30-plus percent of all active U.S. agents leveraging RentSpree.”
The company also landed in the top 13 percent of the Inc. 5000 list of fastest-growing companies of 2022, coming in at No. 625 with 1001 percent growth.
Several funds contributed to the fast-growing technology company, but Green Visor Capital took the lead position.
Others adding to the round include Rally Ventures, the California Association of Realtors® (C.A.R.), Venture MLS, ECG-Research, KEC Ventures and Gaingels, with participation from existing investors 645 Ventures and
Vesta Ventures, the release stated.
Funds will be put to use to further evolve RentSpree’s product offerings for both renters and agents, according to the release, as well as to seek and secure more strategic partnerships.
On the last day of Inman Connect Las Vegas, a group of venture capital fund executives sat on a couch on the main stage discussing the state of their respective funds, none of which appeared to be in dire straights.
Speaking on behalf of her industry in a clear moment of prescience, Clelia Peters,…
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