Funnel Raises $32 Million to Expedite Adoption of the New Operating Model by Multifamily Leaders
The Floridant/10250141

TAMPA, Fla. ~ Funnel Leasing, the first Renter Management Software platform, has announced the completion of a $32 million Series B-2 financing round to unlock a new operating model for multifamily leaders. The financing was led by RET Ventures, the leading VC investor in "rent tech", whose 50+ strategic investors comprise the largest group of apartment owners and operators working together to drive innovation in multifamily, representing over 2.5 million rental units. They were joined by Trinity Ventures and a group of leading multifamily owner operator co-investors.

The new model is built on a foundation of modern, renter-centric technology, AI and automations that will delight renters and teams while managing expenses and saving owners and operators tangible costs and time. 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. Additionally, it recognizes the completion of Funnel's front office suite including: CRM, virtual leasing agent, online leasing, onboarding, and a resident portal.

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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. This allows operators to abandon the antiquated 1:100 leasing operating model while relieving teams, reducing costs, creating better margins, and delighting renters.

Tyler Christiansen CEO of Funnel said "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."

John Helm Founder & Partner at RET Ventures said "We traditionally invest in themes backing technologies that can solve acute challenges for real estate operators & Funnel is our flagship platform in self-leasing & one of our firm's largest investments to date." He added "With their completed platform owners & operators no longer need to use antiquated software to manage their renter journeys & can now graduate to a modern platform architected around how owners teams & renters behave today."

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The RMS platform gives property management companies of all sizes — from large REITs privately owned & third-party managed companies —the flexibility they need to reorganize their operating model & prioritize teams' task lists so that high-value items are completed first. Teams are free to focus on their most valuable follow-up & trust AI & automation to handle rote tasks while creating a consistent branded experience for renters.

Funnel Leasing's $32 million Series B-2 financing round has unlocked an innovative operating model for multifamily leaders that offers complete enterprise-wide visibility & an ideal renter journey while reducing costs & time for owners/operators as well as providing an improved customer experience for renters. With this new funding they have expanded their sales/marketing teams significantly with Johnny Hanna joining them recently as well as completing their front office suite which includes CRM virtual leasing agent online leasing onboarding & resident portal.
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