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Property management, accounting, and other operating systems each hold a piece of the picture. The platform connects to them rather than asking teams to export and re-key.
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 Revolution RE funding will be used for product development, as well as marketing and sales efforts.
The capital raise brought together institutional proptech investors, a multifamily owner-operator, and a group of individual investors with deep real estate and technology backgrounds. Participation in the Revolution RE funding round included:
The mix matters. A funding round led by people who own and operate rental property, alongside people who built and scaled technology companies, is a signal about the problem being solved. It is an industry data problem first and a software problem second. That is the premise the company was built on, and it is described in more detail on the Revolution RE company page.
The funding will be used for product development, as well as marketing and sales efforts. In practice that means two kinds of work running in parallel.
The announcement itself was framed around growth in the rental housing industry. As more capital flows into residential rental property, the volume of data those properties generate grows with it. The Revolution RE funding is meant to keep the platform scaling ahead of that curve rather than behind it.
Revolution RE provides real estate companies a full-stack data strategy. The phrase is deliberate. Most operators have data tools. Few have a strategy that covers the whole path from source system to decision. The platform covers that path end to end.
Property management, accounting, and other operating systems each hold a piece of the picture. The platform connects to them rather than asking teams to export and re-key.
Once the data is in one place, it can be combined across properties and portfolios and presented in a form that stakeholders can act on.
The aggregated data lives in a secure warehouse the operator controls, which is what makes it available for reporting and modeling over time.
With those three in place, owners and managers can substantially streamline current reporting offerings to investors and clients. They can also produce groundbreaking predictive operating models with Revolution RE, because a model is only as good as the consistency of the data behind it. A fuller description of how the pieces fit together lives in the platform overview.
The stakeholders the platform serves are the ones named in the announcement: investors, asset managers, property managers, and acquisitions teams. Each group asks different questions of the same underlying data. An investor wants the portfolio roll-up. An asset manager wants variance against budget. A property manager wants this week’s operating picture. An acquisitions team wants a clean history it can underwrite from. One consistent data foundation lets all four work from the same numbers.
“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.”
Three ideas in that statement explain the Revolution RE funding thesis. The data exists and is abundant. It is trapped in siloed systems and inconsistent formats. And the people who need it most, from investors to acquisitions teams, are the ones least able to reach it. The mechanics of getting data out of those silos and into one consistent structure are covered in our explanation of the extraction and standardization process.
The investment announcement marks the company’s second significant milestone in recent weeks. Shortly before the round closed, Revolution RE successfully received 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).
For a data platform, this is not a side note. Owners and managers are handing over rent rolls, financials, and resident-level information. A SOC 2 Type II report is an independent examination of whether a company’s security controls are designed properly and operate as intended. It is the evidence a client’s security team asks for before a data connection is approved.
Pairing the audit with the Revolution RE funding round was intentional. Capital lets the platform grow. The audit lets clients trust it as it grows. How that commitment is maintained is described on our data security page.
Revolution RE has more than 60,000 units on the platform and serves the needs of real estate companies across North America.
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.
Contact: Stacey Gaswirth, GoPR, stacey@gopublicrelations.com, 214-213-4675
Revolution RE, Inc., formerly JoyHub, Inc., is a Los Angeles-based software-as-a-service data aggregation and analytics platform for the residential rental real estate market. It gives real estate companies a full-stack data strategy to access, aggregate, present, and securely store property data. At the time of the announcement it served more than 60,000 units across North America, and Elizabeth Braman is its CEO.
The platform accesses information from any source an operator uses, aggregates it, presents critical insights, and stores the data securely in a data warehouse. Owners and managers use it to streamline reporting to investors and clients and to build predictive operating models. It is designed for apartment buildings, single-family rentals, senior housing, and student housing alike.
The Revolution RE funding round was $3M, announced on June 27, 2022 by Business Wire. Participants included 29th Street Ventures, Moderne Ventures, Techstars, PLG Ventures, Silicon Badia, Jason Calacanis’ LAUNCH fund and The Syndicate, and individual investors including Ray Wirta, Marc Randolph, Sandy Sigal, Carl Chang, and Chris Fraley. The capital is earmarked for product development, marketing, and sales.
A SOC 2 Type II audit is an independent examination confirming that a company’s security controls meet the standards developed by the American Institute of Certified Public Accountants (AICPA) and operate as intended. Revolution RE’s audit was completed by Dansa D’Arata Soucia LLP shortly before the funding announcement. For clients sharing property and resident data, it is the baseline evidence that the platform handles that data responsibly.
Residential rental properties generate massive amounts of data from many different sources, and most companies keep it in siloed systems in a variety of formats. That makes it difficult to view properties and portfolios holistically, so investors, asset managers, property managers, and acquisitions teams cannot realize the full potential of the data they already own. Unlocking it is what produces actionable insights, better property returns, and a better housing experience.
Data from every source, aggregated into one secure warehouse, so reporting to investors gets faster and predictive models have something consistent to learn from.
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