SAN FRANCISCO—Rentlytics, a technology platform for owners and managers of multifamily real estate assets, has received Series A funding. The $9.1 million round led by Walker & Dunlop includes additional participation from both new and existing investors, including Grey Wolf. Rentlytics will use the strategic investment for additional product development and market expansion.
Justin Alanis, CEO and co-founder of Rentlytics tells GlobeSt.com: "This fundraise represents a major step in Rentlytics' evolution. A strategic investment from an organization like Walker & Dunlop signals the power of the Rentlytics platform and helps to further highlight the enormous need for better tools to leverage data in the space. We're excited to continue to deliver a platform that offers these tools that are necessary in today's market."
Launched in January 2015, the cloud-based business intelligence software developed by Rentlytics streamlines multifamily management within a single platform. This enables owners and managers of multifamily assets to analyze disparate property and portfolio-related data, such as financial, operational and marketing information, to make more informed management decisions.
Walker & Dunlop chairman and CEO Willy Walker commented, "The multifamily real estate space is becoming increasingly dependent on new technology as stakeholders look for ways to simplify and streamline the analysis of large amounts of portfolio data in real time, a challenge Walker & Dunlop faces in the asset management and servicing of over 4,700 properties. Rentlytics' software provides an insightful, comprehensive view of the financial and operational performance of a property, and we decided to make a strategic investment in Rentlytics because of the value we see in this platform. Property owners, operators, developers, lenders and investment sales professionals will find this software powerful and compelling."
"We are excited to be partnering with Walker & Dunlop; their unique market expertise and national scope will be transformative for our business. This new funding will be deployed to advance our vision of delivering a comprehensive business intelligence and analytics platform to the multifamily industry. We are well positioned to continue providing our customers with innovative technologies that help them to better access, understand and apply their data," says Alanis.
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Lisa Brown
Lisa Brown is an editor for the south and west regions of GlobeSt.com. She has 25-plus years of real estate experience, with a regional PR role at Grubb & Ellis and a national communications position at MMI. Brown also spent 10 years as executive director at NAIOP San Francisco Bay Area chapter, where she led the organization to achieving its first national award honors and recognition on Capitol Hill. She has written extensively on commercial real estate topics and edited numerous pieces on the subject.
