Walker & Dunlop Makes $9.1M Strategic Series A in Rentlytics
Walker & Dunlop, Inc. (NYSE: WD) and Rentlytics announced today that Walker & Dunlop has made a strategic investment in Rentlytics, a technology platform for owners and managers of multifamily real estate assets. The $9.1 million Series A round of funding led by Walker & Dunlop includes additional participation from both new and existing investors, including Grey Wolf. Rentlytics will use the funding for additional product development and market expansion. The cloud-based business intelligence (BI) software developed by Rentlytics streamlines multifamily management within a single platform, enabling owners and managers of multifamily assets to analyze disparate property and portfolio-related data, such as financial, operational, and marketing information, to make more-informed management decisions. Since their product launch in January 2015, many of the most advanced owners and operators in the multifamily industry have adopted the platform.
Walker & Dunlop Chairman and CEO, Willy Walker, commented, “The multifamily real estate space is becoming increasingly dependent on new technology as stakeholders look for ways to simplify and streamline the analysis of large amounts of portfolio data in real-time, a challenge Walker & Dunlop faces in the asset management and servicing of over 4,700 properties. Rentlytics’ software provides an insightful, comprehensive view of the financial and operational performance of a property, and we decided to make a strategic investment in Rentlytics because of the value we see in this platform. Property owners, operators, developers, lenders, and investment sales professionals will find this software powerful and compelling.” CEO and Co-Founder of Rentlytics, Justin Alanis, stated, “We are excited to be partnering with Walker & Dunlop; their unique market expertise and national scope will be transformative for our business. This new funding will be deployed to advance our vision of delivering a comprehensive business intelligence and analytics platform to the multifamily industry. We are well positioned to continue providing our customers with innovative technologies that help them to better access, understand and apply their data.”
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