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- Venn raised $52 million to expand its smart operating system for apartments.
- The company operates in over 30 states and partners with major real estate firms.
- Venn says it wants to bring personalized, consumer-focused technology to the multifamily real estate sector.
Venn, which is building a smart operating system for apartments, announced Tuesday that it has raised $52 million in Series B funding led by NOA and CIM Group, with participation from Group 11, Oren Zeev, Hamilton Lane, Latitude, LocalGlobe, and FinTLV.
The company, founded in 2017, has now raised a total of $140 million in funding. The valuation was not disclosed.
Venn's software helps property managers automate applications, lease management, payments, maintenance requests, and more. The company has expanded its platform across more than 30 states over the past 18 months and won contracts from real estate giants Related, Bozzuto, CIM Group, and Veris Residential.
"Multifamily real estate is a $2.5 trillion asset class, yet it captures only a fraction of the $10 trillion living economy around it," Or Bokobza, cofounder and CEO of Venn, said in a statement."Venn is changing that by helping owners and operators move from a transactional, low-margin model to one that behaves like a true consumer brand with stronger, more durable margins."
Venn is headquartered in New York, while its product, research, and development teams are in Tel Aviv.
Here's an exclusive look at the pitch deck that helped Venn raise $52 million:
