Software and data platforms that allow investors, particularly institutional ones, to more easily identify properties of a specific type, have increasingly become popular. Avenue One, which started in 2020 and focuses on single-family rentals, announced that it raised $100 million in a "strategic funding round" led by early investor WestCap and including MetLife Investment Management and others. Other existing investors are credit funds from KKR and Global Atlantic.

The sum is large given current economic pressures and ongoing concern and pulling back on the part of investors. The money will go to improving the software platform, building a local partner network, and expanding its institutional marketplace.

Avenue One provides a "service platform that combines proprietary data and a network of local partners to identify, acquire, renovate, lease and manage residential investment properties," according to a press release. "This ecosystem of independent businesses – including brokers, contractors, title professionals, and property managers – provide local expertise to create and maintain portfolios of quality rental properties across the country."