Renter management software platform Funnel Leasing announced the completion of a $32 million Series B-2 financing round to unlock the new operating model for multifamily operators. The financing is led by RET Ventures, joined by Trinity Ventures and a group of multifamily owner/operators.
Property managers and owners plagued by rising costs and increasing labor challenges now have access to a flexible, cost-saving operating model that offers complete enterprise-wide visibility and an ideal renter journey, Funnel Leasing said, built on a foundation of modern, renter-centric technology, AI and automations. The financing expands Funnel’s sales and marketing teams significantly, including the recent addition of multifamily veteran and former Entrata and Homie Co-founder Johnny Hanna.
Funnel’s platform is architected fundamentally differently from other multifamily solutions as the renter — not the property — is the source of truth, creating clear visibility and insights across the entire renter journey and unlocking shared services and role specialization for teams. Funnel powers the new centralized operating model embraced by eight companies which rank as top 20 owners or operators, among other customers.
“Funnel is uniquely positioned to combat many of today’s worsening problems: increasing fixed expenses, lower renewals, talent shortages, and skyrocketing consumer expectations. This new financing ensures our current clients and future partners can rely on the industry’s only independent CRM with a steadfast commitment to innovation, and we’re thrilled to partner with RET, the biggest single vote of confidence in the multifamily space,” said Tyler Christiansen, CEO, Funnel. “In a sea of acquisitions and frustrating technology shortcomings, the status quo operating model continues to disappoint renters, burn out teams, and limit owners and managers. The future of multifamily leverages enterprise-grade technology, automations and shared services to provide renters and residents the best experience at every step of their journey — from inquiry to move-in to renewals — all while making teams’ roles more engaging.”
The RMS platform gives property management companies of all sizes — from large REITs to privately owned and third-party managed companies — the flexibility they need to reorganize their operating model and prioritize teams’ task lists so that high-value items are completed first, Funnel said. Teams, in turn, are free to focus on their most valuable follow-up, and trust AI and automation to handle rote tasks
