With Over 6,000% Revenue Growth in Five Years, the Milestone Underscores the Rental Management Software's Value to Agents, Landlords, Property Managers, and Renters Alike
LOS ANGELES, May 24, 2022 /PRNewswire/ -- RentSpree, the industry's premier end-to-end rental management software provider, today announced it has reached one million users on the RentSpree platform. RentSpree has experienced over 50% user growth in the last year and has helped 600k renters in their search to find the ideal home.
With a valuation that grew from $620K in a pre-seed round in 2017 to $53M in a 2021 Series A round, the platform has poised itself for continued growth with plans to provide more groundbreaking technology for the rental industry. Additionally, RentSpree's platform revenue has skyrocketed, growing over 6,000% in five years. Beyond that, even despite the pandemic, the company's headcount has grown over 1,000% over the last three years.
"The massive demand we've seen speaks to the power of the platform. Our users value change because change means progress," said CEO Michael Lucarelli. "RentSpree is paving a new way for rental management and the PropTech industry as a whole. We're confident this is only the beginning and we're looking forward to continued growth."
With just over six years in the industry, RentSpree has put forth many industry-first solutions to aid in the digital transformation of the real estate sphere. During this time, RentSpree has also partnered with three of the top five multiple listing services (MLS) in the United States, including California Regional Multiple Listing Service (CRMLS), First Multiple Listing Service (FMLS), and Bright MLS, along with nearly 250 of the most trusted brands in real estate?like Lone Wolf Technologies. Through these partnerships, RentSpree has been able to help them tackle the rental market with ease and improve the rental experience for all parties involved.
"Congratulations to RentSpree for this incredible accomplishment," said Jeremy Crawford, CEO and President of First Multiple Listing Service (FMLS). "With over 57,000 of our agents having access to the platform, we are thrilled to see the future of digital real estate continue to take off with RentSpree at the forefront. From contract to implementation in only 20 days, RentSpree has been the fastest product to go live in FMLS's history. RentSpree's Agent Tools is truly invaluable to our team."
This announcement comes on the heels of RentSpree's Agent Tools solution suite launch. The suite houses tools that provide an all-in-one offering for real estate agents that supports holistic rental management, from advertising and nurturing leads to closing deals using PropTech. Notable offerings on the RentSpree platform include:
This announcement also comes at a time when the popularity of rentals is increasing to address the skyrocketing prices of homes across the country. RentSpree will continue to grow with goals to spearhead the industry's adoption of PropTech and empower agents, landlords, and renters on their real estate journeys.
For more information on RentSpree, visit rentspree.com.
Founded in 2016, RentSpree is an award-winning rental software known in all 50 states for its easy-to-use tenant screening process, renter management, partnership program, and rental screening API. In just six years, RentSpree has grown its database by partnering with over 250 of the most trusted names in real estate and over one million agents, owners, and renters across the country.
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