Startup launches scalable data platform to support explosive growth in the rental housing industry
LOS ANGELES–(BUSINESS WIRE) — Revolution RE, Inc. (formerly JoyHub, Inc.), a software-as-a-service (SaaS) based data aggregation and analytics platform for the residential rental real estate market, today announced it has successfully closed on a $3M funding round.
The capital raise included participation by 29th Street Ventures, a division of multifamily investor 29th Street Capital, Moderne Ventures, Techstars, PLG Ventures, Silicon Badia, Jason Calacanis’ LAUNCH fund and The Syndicate, Ray Wirta (former CEO of CBRE), Marc Randolph (Netflix co-founder and first CEO), Sandy Sigal (CEO of Newmark Merrill), Carl Chang (CEO and founder at Kairos Investment Management) and Chris Fraley (CIO of RealtyMogul). The funding will be used for product development, as well as marketing and sales efforts.
Revolution RE provides real estate companies a full-stack data strategy to access information from any source, aggregate and present critical insights, and store the data securely in a data warehouse. Owners and managers can substantially streamline current reporting offerings to investors and clients and produce groundbreaking predictive operating models with Revolution RE.
“Residential rental properties – whether they are apartment buildings, single-family home rentals, senior or student housing – generate massive amounts of data from a multitude of different sources,” said Elizabeth Braman, Revolution RE’s CEO. “Today, many real estate companies maintain their data in various siloed systems in a variety of formats, which makes it difficult to view properties and portfolios holistically. As a result, critical stakeholders – from investors to asset managers, property managers and acquisitions teams – struggle to realize the full potential of their own data. Unlocking this resource offers a tremendous opportunity to produce actionable insights, which empowers operators to generate better property returns and provide a superior housing experience for their residents and communities.”
The investment announcement marks the company’s second significant milestone in recent weeks after successfully receiving its Systems and Organizational Control (SOC) 2 Type II Audit for Data Security. An independent audit completed by Dansa D’Arata Soucia LLP confirmed the Company’s controls met the rigorous SOC 2 standards for security as developed by the American Institute of Certified Public Accountants (AICPA).
Revolution RE has more than 60,000 units on the platform and serves the needs of real estate companies across North America.
ABOUT REVOLUTION RE:
With a vision to elevate visibility into today’s residential property lifecycle, Revolution RE provides real estate companies with cost-effective tools to unlock the value of data generated. Revolution RE offers operators a safe, compliant and scalable data platform with which to meet operational and asset management needs. To find out more about how Revolution RE supports top owners and managers of apartment and rental property portfolios with data insights, please visit RevolutionRE.com.