Amenify, the resident experience platform, today announced it closed a $2.7M round led by RET Ventures. Prior to this, Amenify had raised an undisclosed amount directly from real estate owners, as well as RET Ventures, which represents the largest network of multifamily and single-family units in North America. Amenify provides operators with a turnkey solution for a managed marketplace of services via third-party providers. This funding will help the company further bolster its technology, secure provider partnerships, and create additional value for multifamily owners and operators.
“Why do office buildings get all of the attention for experiences while we neglect where we live? Just as WeWork reshaped the office-tenant relationship through technology, Amenify is reshaping the apartment-resident lifestyle, which is a larger addressable market. The multifamily housing industry previously lacked the digital infrastructure, integration, and ongoing support to make this a reality,” says Everett Lynn, Amenify’s CEO. “We are thrilled that RET Ventures continues to support our vision and utilize the investor buying power to create unique value for our clients.”
By connecting the worlds of commerce, data, and multifamily portfolios, Amenify drives net operating income (NOI) for multifamily properties. The company has built a network of vetted providers for resident services, serving as a one-stop-shop for amenities, including dog walking, massage therapy, fitness training, cleaning, and staffed events. Nationally, Amenify is able to integrate with major brands such as Shipt, Havenly, and Lyft to create the next generation of amenities. The purpose of Amenify’s custom-built, localized networks are two-fold: to ensure top-tier services for the resident and to adhere to property owners’ high standards.
“Providing a premier resident experience is no longer a nice-to-have, it is critical to the success of multifamily communities,” says Sid Lakireddy of Square One Management. “Amenify takes care of all of the work for provider management and delivers an exceptional resident experience that immediately impacted our bottom line, which is critical for a portfolio rollout.”
Amenify’s scalable platform removes the complexity of offering personalized services in the home and integrates easily with existing systems. By simplifying the process of building and maintaining a network of providers, Amenify also allows the property’s onsite team to focus squarely on revenue-generating activities.
“We believe residential is the new retail, and apartment owners are sitting on a mountain of unlocked value,” says John Helm, Managing Director of RET Ventures. “In-home services and partnerships are growing quickly, and we believe that Amenify has the right blend of technology and real estate experience to be the largest player in the industry. There are tremendous network effects here.”
ABOUT AMENIFY
Amenify is a venture-backed technology company focusing on multifamily real estate. The company’s award-winning platform is a turnkey solution for amenity services so operators can unlock the value of their assets. Apartment managers get time back in their day, as Amenify handles all the work for living experiences like pet care, fitness, cleaning, events, and concierge support. Since launching core services in 2018, Amenify is trusted by hundreds of properties and improves living for tens of thousands of residents. Their expansion into 15 markets has been fueled by strategic investors representing more than one million multifamily homes in the US and Canada.
ABOUT RETV
RET Ventures is the first industry-backed early stage venture fund focused on helping build cutting-edge real estate technology companies for the multifamily industry. The Firm connects the smartest rent tech solutions with the largest network of multifamily and single-family rental units in North America. RET Ventures works with high quality entrepreneurs to rapidly scale their businesses by leveraging the knowledge and expertise of its team and limited partners, who own close to one million units. In turn, these owners receive early access and insight into the most effective technology solutions. For more information, please visit www.ret.vc.
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