K1 Investment Management Invests in RentRedi’s Industry-Leading PropTech Software in Series A Raise
New York, NY (April 13, 2021) – RentRedi, a leading property management software transforming the real estate and rental property industry, has raised $12 million in a Series A funding round led by K1 Investment Management (“K1”), with participation from TIA Ventures, Tribeca Early Stage Partners, and RiverPark Ventures.
This round brings RentRedi’s total amount of funding raised to over $17 million. The funds will be used to scale their hyper-growth, groundbreaking mobile-first tech. The company’s tech is transforming the painful renting process landlords have been burdened with; enabling independent landlords of all sizes to automate manual property management tasks and create an amazing experience for themselves and their tenants.
PropTech Software Industry
RentRedi has partnered with K1, who invests in rapid growth enterprise tech companies and has invested to make RentRedi the market leader in the independent landlord software space.
K1 is a proven PropTech investor, having invested in and then selling Buildium—a property management software built for property management companies, rather than independent landlords—to RealPage in 2019 for $580 million. Investing in RentRedi signals its strong leadership in the PropTech market.
Since January 2020, RentRedi has added over 10,000 actively subscribed landlords who use their platform to manage over 85,000 properties. Driven by landlord feedback, RentRedi has built its platform to include features like mobile and web apps, automated rent collection, free listing syndications, tenant screening, maintenance, credit boosting for on-time payments, lease signing, and accounting.
Describes one RentRedi landlord, “Stunning simplicity with exceptional service. RentRedi is a force multiplier and game changer!”
RentRedi was founded to tackle prominent obstacles in the renting industry and intends to use its funds to continue building a strong platform that helps landlords streamline their businesses. They also plan to hire additional engineers to help build first-class software and Customer Success representatives to continue providing landlords and tenants with best-in-class support.
Says RentRedi Co-Founder and CEO, Ryan Barone:
“Independent landlords and tenants deserve powerful software that’s designed for the modern renting world. We’re more excited than ever to be a driving force in the property management tech space. Partnering with K1 Investment Management is an amazing opportunity to bring this technology to millions of landlords and tenants in a way that no one has done before in the property management tech space. We’re hungry to continue modernizing and revolutionizing traditional approaches to the renting experience.”
RentRedi is property management software that transforms the way independent landlords manage rental properties.
For landlords, RentRedi provides an all-in-one dashboard that enables them to collect mobile rent payments, list properties, prequalify and screen tenants, electronically sign leases, export property-related reports, send in-app notifications to tenants, report on-time rent payments, and manage maintenance & accounting. RentRedi has partnered with platforms including TransUnion, Realtor.com, Zillow, Plaid, Global Payments, REI Hub, and Latchel to create the best experience possible.
For tenants, RentRedi’s mobile app allows them to pay rent, set up auto-pay, submit maintenance requests, and improve their credit scores with on-time rent payments—all from the palm of their hand. For more information visit RentRedi.com.