What is SmartRent?
Founded in 2017 and headquartered in Scottsdale, Arizona, SmartRent provides an integrated platform of smart hardware and cloud-based SaaS solutions designed for the multifamily rental housing industry. The company's end-to-end system offers property owners, managers, and operators enhanced visibility and control over their real estate assets. SmartRent's technology facilitates operational simplification, workflow automation, and improved resident experiences through features such as access control, self-guided tours, community WiFi, and leak detection. The platform's compatibility with a wide array of smart home devices and leading property management systems positions it as a comprehensive solution for modern rental communities.
How much funding has SmartRent raised?
SmartRent has raised a total of $98.5M across 4 funding rounds:
Angel/Seed
$1.5M
Series A
$5M
Series B
$32M
Series C
$60M
Angel/Seed (2018): $1.5M with participation from RET Ventures
Series A (2018): $5M led by Real Estate Technology Ventures
Series B (2019): $32M supported by Essex Property Trust, Bain Capital Ventures, RET Ventures, Starwood Capital, and UDR, Inc.
Series C (2020): $60M featuring RET Ventures, Fifth Wall, Bain Capital Ventures, Amazon, Spark Capital, and Energy Impact Partners
Key Investors in SmartRent
Bain Capital Ventures
Bain Capital Ventures is a venture capital firm that invests in early-stage companies. They focus on a range of sectors and provide strategic guidance and capital to help businesses scale.
RET Ventures
RET Ventures is an early-stage venture fund focused on "rent tech" for the multifamily and single-family rental real estate sectors, backed by major REITs and owner-operators.
Fifth Wall
Fifth Wall is a leading venture capital firm specializing in proptech, connecting real estate owners and operators with innovative technology companies.
What's next for SmartRent?
With its substantial enterprise-level backing, SmartRent is strategically positioned for accelerated growth and market penetration. The company's focus on innovation in smart home technology for rental properties indicates a trajectory towards further integration of artificial intelligence and data analytics to optimize property management and resident services. Future developments are likely to include expanding its hardware ecosystem, enhancing its SaaS capabilities for predictive maintenance and energy management, and forging deeper partnerships within the real estate technology landscape. This sustained investment signals confidence in SmartRent's business model and its potential to redefine the smart living experience in rental housing.
See full SmartRent company page
