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SmartRent offers integrated smart technology solutions designed for the multifamily and broader rental housing industry. The company provides a comprehensive platform that combines smart home hardware with cloud-based enterprise software, delivering capabilities such as smart apartment controls, access management, self-guided tours, and operational tools for work and inspection management. This technology facilitates a connected experience for residents and streamlines property management workflows, focusing on efficiency and automation.
The company was founded in 2017 by Lucas Haldeman, who initially served as CEO. He was joined by co-founders Demetrios Barnes and Isaiah Derose-Wilson. Haldeman's extensive background in real estate technology provided the foundational insight that smart home integration could significantly enhance property valuation and operational effectiveness for rental owners and managers, addressing a clear market need for purpose-built solutions.
SmartRent primarily serves property owners and operators across various residential segments, including multifamily communities, single-family rentals, homebuilders, and student housing. The long-term vision is to deliver adaptable smart home automation experiences tailored to specific asset types, ensuring seamless integration with existing property management systems. This approach aims to elevate resident satisfaction and optimize property performance through intelligent technology adoption.
SmartRent has raised $124.0M across 5 funding rounds.
SmartRent has raised $124.0M in total across 5 funding rounds.
SmartRent has raised $124.0M in total across 5 funding rounds.
SmartRent's investors include Accel, Amazon Alexa Fund, Bain Capital Ventures, Bungalow Capital, Canaan Partners, Curated, Energy Impact Partners, Felicis Ventures, Fifth Wall, FirstMark Capital, Fuel Capital, Insight Partners.
SmartRent is a leading proptech company providing an integrated smart home platform for rental housing, including multifamily, single-family, build-to-rent, and student housing properties[2][3][6]. It builds hardware like smart locks, thermostats, leak sensors, and hubs alongside cloud-based software for automation, real-time monitoring, and AI-driven insights, serving property owners, managers, and residents to solve operational inefficiencies, reduce costs, enhance security, and improve resident experiences[1][2][4][6]. The platform streamlines tasks such as self-guided tours, work order management, parking, WiFi, and energy optimization, with strong growth shown by deploying over 500,000 units by 2022, reaching one million self-guided tours by 2024, and recent AI enhancements like SMRT IQ for real-time IoT data and property insights[1][3].
Founded in 2017, SmartRent was created by former multifamily operators with a vision to revolutionize rental living through connected smart home technology, starting with hardware and software for efficiency, asset protection, and convenience[2][3][5]. The idea emerged from identifying gaps in property management, leading to an end-to-end ecosystem that automates portfolios rather than isolated devices[3]. Key milestones include hitting 500,000 installed units in 2022 after acquiring SightPlan for maintenance and resident tools; launching Community WiFi in 2023 based on resident research; and in 2024, achieving one million self-guided tours while expanding Alloy hardware like Deadbolt+ with Apple integration[3].
SmartRent rides the proptech wave in smart buildings and IoT for rentals, capitalizing on rising demand for energy efficiency, digital resident experiences, and cost controls amid regulations, ESG pressures, and fraud risks[1][4]. Timing aligns with post-pandemic shifts to remote management, self-service leasing, and AI analytics, where fragmented tools fail at scale—SmartRent's holistic approach fills this by connecting operations end-to-end[2][4]. Market forces like multifamily growth and tech-savvy renters favor it, influencing the ecosystem through widespread adoption, partnerships (e.g., Knock for tours), and innovations setting standards for intelligent rental communities[3][5].
SmartRent is poised to deepen AI integration and energy tools, expanding SMRT IQ for predictive analytics and further hardware like advanced sensors, while targeting global multifamily expansion amid proptech consolidation[1][3]. Trends like AI-driven sustainability, seamless digital leasing, and revenue streams (e.g., WiFi/parking) will propel growth, potentially improving its negative P/E through scaled efficiencies ahead of 2026 earnings[2]. Its influence may evolve from operator tool to ecosystem leader, redefining rentals as intelligent assets and delivering the connected living SmartRent envisioned from day one[1][2][3].
SmartRent has raised $124.0M across 5 funding rounds. Most recently, it raised $60.0M Series C in May 2020.
| Date | Round | Lead Investors | Other Investors |
|---|---|---|---|
| May 1, 2020 | $60.0M Series C | Accel, Amazon Alexa Fund, Bain Capital Ventures, Bungalow Capital, Canaan Partners, Curated, Energy Impact Partners, Felicis Ventures, Fifth Wall, FirstMark Capital, Fuel Capital, Insight Partners, Long Journey Ventures, Makers Fund, Notion Capital, Otherwise Fund, Polychain Capital, Precursor Ventures, RET Ventures, Sinai Ventures, Spark Capital, Mike Kerns, Webb Investment Network, Work-Bench, Adam Foroughi, Jesse Hertzberg, Mark Pincus, Scott Banister, Will Gaybrick | |
| Jun 1, 2019 | $32.0M Series B | Bain Capital Ventures, FirstMark Capital, Notion Capital, Otherwise Fund, RET Ventures, Jesse Hertzberg, Will Gaybrick | |
| May 1, 2019 | $25.0M Series B | 99 Startups, Bain Capital Ventures, Bond, Bullpen Capital, Fuse, Imaginary Ventures, LAUNCH, Jake Kassan, Jamie Sutton, Kyle Widrick, Netalie Nadivi, Ryan Duranso | |
| Nov 1, 2018 | $5.0M Series A | RET Ventures | |
| May 1, 2018 | $2.0M Seed | RET Ventures |