Renew, a New York-based startup providing an AI-powered resident retention platform for apartment operators, has raised $12 million in Series A funding.
The funding round was led by Haymaker Ventures, with participation from Goldcrest Capital, Upfront Ventures, and other investors.
The company plans to use the capital to expand its retention platform and introduce what it calls the industry’s first “Resident Referral Network.” The new initiative aims to help property operators retain residents and reduce turnover costs through a connected, data-driven system.
Founded in 2021 by Rob Hayden and Kevin Murphy, Renew helps multifamily and single-family apartment operators improve the renewal process. Its technology automates key renewal workflows, enhances fraud prevention, and supports brand loyalty among residents.
The company’s platform integrates multiple modules that work together to optimize retention and generate new revenue opportunities for property owners.
Renewal Management System (RMS): Automates the renewal process end-to-end, ensuring offers are timely, compliant, and transparent. It also reduces manual work for site teams while improving the renewal experience for residents.
Renew Data Engine: Detects churn risks and renewal patterns across a portfolio, allowing property managers to shift from reactive to predictive decision-making.
Renew AI: Uses machine learning to personalize renewal offers, optimize timing, and provide real-time support for operator queries.
Renew Marketplace: Introduces a “Resident Referral Network,” enabling in-portfolio transfers and trusted referrals between communities.
Revenue Ecosystem: Monetizes the decision-making stage of a lease renewal by integrating rewards and services that benefit both operators and residents.
By combining automation and predictive analytics, Renew aims to make retention management more measurable and cost-effective for apartment operators.
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By Proptechbuzz
By Ravi Kumar