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- Funnel
Funnel Funding, Investors & Competitors
Funnel has raised $106M across 8 funding rounds, most recently a $32M Series B in October 2023.
Last Funnel funding round
$32M
Series B · Oct 2023
Cumulative funding Funnel raised
$106M
across 8 funding rounds
Key investors in Funnel
Trinity Ventures
Techstars
Scout Ventures
Camber Creek
Joanne Wilson
RET Ventures
Social Starts
RiverPark Ventures
About Funnel
Funnel develops renter management software for multifamily property operators in the US. The platform streamlines leasing from inquiries to renewals, integrating tools for consistent renter experiences and operational efficiency.
Founded
2009
HQ
Website
Status
Privately held
Customer focus
B2B
Revenue model
Subscription
Funnel Funding History
Funnel has raised a total of $106M across 8 funding rounds.
Funnel's first fundraising round was a $2M seed round in July 2013. The most recent completed round was a $32M Series B in October 2023.
Funnel funding rounds
| Date | Stage | Investors | Raised | Deal Summary |
|---|---|---|---|---|
| Oct 2023 | Series B | RET Ventures (lead); Trinity Ventures | $32M | Funnel Leasing, a Tampa, FL-based Renter Management Software (RMS) platform founded in 2011 by Caren Maio, Matt Raoul, and Mike O'Toole, raised $32 million in a Series B-2 financing round on October 30, 2023. The round was led by RET Ventures with participation from Trinity Ventures and multifamily owner-operator co-investors. The platform provides a renter front office suite including CRM, virtual leasing agent, online leasing, onboarding, and resident portal, designed for property management companies of all sizes from large REITs to privately owned and third-party managed firms. It enables centralized operations across multiple assets, leveraging AI and automation to prioritize high-value tasks, streamline renter journeys, and address challenges like rising costs, labor shortages, lower renewals, and high consumer expectations, differentiating from competitors like RealPage and Yardi. The funding will be used to expand sales and marketing teams, further develop the platform, update product offerings, hire new employees, and accelerate industry adoption among multifamily leaders. RET Ventures described Funnel as their flagship platform in self-leasing and one of their largest investments, backed by over 50 strategic investors managing more than $600 billion in real estate assets focused on multifamily and single-family rentals. CEO Tyler Christiansen highlighted the platform's role in combating industry issues through independent CRM innovation. Funnel has gained adoption by major multifamily owners and operators, positioning it to reduce costs and improve customer experiences via a modern, automated operating model. The company plans to add talent like multifamily veteran Johnny Hanna, formerly of Entrata and Homie, to drive growth. |
| Feb 2022 | Series B | RET Ventures (lead); Camber Creek; Morgan Properties; Camden Property Trust; Wilshire Lane Capital; Trinity Ventures | $37M | Funnel Leasing, a Lutz, Florida-based proptech company founded in 2010, provides a renter-centric leasing platform for multifamily operators, streamlining the rental lifecycle through tools like Engage for lead management and CRM, Amplify for virtual leasing via texting/email/chat, Convert for online leasing and income verification, and Signal for listing syndication. The platform shifts focus from property-level to portfolio-level leasing, serving as a full-portfolio CRM for five of the 20 largest U.S. apartment owners including Essex, MAA, Cortland, and others. It differentiates from legacy property management software by prioritizing renter experience with automation, omni-channel communication, and conveniences like self-touring and 24/7 leasing. On February 22, 2022, Funnel closed a $36.5 million oversubscribed Series B funding round led by RET Ventures, a proptech VC firm backed by major REITs and operators managing 2.4 million units. Participants included Camden Property Trust, Morgan Properties, Wilshire Lane Capital, Trinity Ventures, Camber Creek, and RET limited partners MAA, Essex, and Cortland. This preemptive round, one of RET's largest investments since their initial 2019 stake in Funnel, will fund expansion into enterprise and mid-market property owners/managers, adding renter onboarding and resident portal features to enable centralized operations. RET Ventures partner John Helm highlighted Funnel's critical role at the prospect-to-resident conversion point, positioning it as a foundational, sticky platform amid pandemic-driven demand for streamlined, renter-controlled processes. CEO Tyler Christiansen noted the validation from top operators and plans to scale beyond property-level to portfolio-wide leasing. The round underscores Funnel's traction as a flagship RET investment, adding value to partners like LMC, Decron, and LCOR. |
| Nov 2020 | Series A | RET Ventures (lead); Camber Creek; Techstars; Trinity Ventures | $14M | - |
| Dec 2019 | Series A | Expansion Venture Capital; Fin Capital | $8M | - |
| Jul 2018 | Series A | Camber Creek (lead); Trinity Ventures (lead); Currency M (The Moinian Group); LeFrak; Rudin Ventures; Durst Ventures; TVC | $5M | - |
| Dec 2015 | Series A | Trinity Ventures (lead); Joanne Wilson; Social Starts; RiverPark Ventures; Scout Ventures; Freestyle Capital; Techstars | $8M | - |
| Dec 2014 | Seed | Freestyle Capital (lead); Joanne Wilson; RiverPark Ventures; Scout Ventures; Techstars; Bradley C. Harrison; Jerry Colonna | $2M | - |
| Jul 2013 | Seed | Joanne Wilson (lead); Ryan Holmes; Social Starts; Quotidian Ventures; BoxGroup; Scout Ventures; Ludlow Ventures; Gregory Barton; Techstars; Bradley C. Harrison; David Tisch | $2M | - |
Who has invested in Funnel?
27 investors have backed Funnel across its funding rounds, including Trinity Ventures, Techstars, Scout Ventures, Camber Creek, Joanne Wilson and RET Ventures.
Lead investors include RET Ventures, Camber Creek, Trinity Ventures, Freestyle Capital and Joanne Wilson.
Funnel Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
| 5 | Lead | Dec 2015 | ||
| 4 | Participant | Jul 2013 | ||
| 3 | Lead | Nov 2020 | ||
| 3 | Lead | Jul 2018 | ||
| 3 | Lead | Jul 2013 | ||
| 3 | Participant | Jul 2013 | ||
| 2 | Participant | Jul 2013 | ||
| 2 | Participant | Dec 2014 | ||
| 2 | Lead | Dec 2014 | ||
| 2 | Participant | Jul 2013 | ||
| 1 | Participant | Jul 2018 | ||
| 1 | Participant | Dec 2019 | ||
| 1 | Participant | Feb 2022 | ||
This data is available for Pro users. Sign up to see all 27 Funnel investors. Start Free Trial | ||||
Benchmark 350K+ Funding Rounds and Disclosed VC Valuation Multiples
Sign up to see data on 350K+ funding rounds and disclosed revenue and EBITDA valuation multiples, from seed, through growth stage, to pre-IPO.
Start Free TrialFunnel Competitors
Funnel competitors include listed companies like CoStar Group, Bentley Systems, AppFolio and Porch Group, and private ones like Entrata and Loft.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
| Publicly listed | $3.2B | $183M | $12B | 3.3x | ||
| Publicly listed | $1.5B | $429M | $9.5B | 6.5x | ||
| Publicly listed | $951M | $178M | $7.8B | 7.1x | ||
| Private | $200M | - | $4.3B | 21.5x | ||
| Private | - | - | $2.9B | - | ||
| Publicly listed | $510M | $79M | $1.8B | 4.1x |
Funnel Public Comps
Funnel is still privately-owned, but its public comps include CoStar Group, Bentley Systems, AppFolio, Porch Group, EverCommerce, Altus Group, Vitec Software, PEXA Group, Real Brokerage and Eleco.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $3.2B | $183M | 3.6x | 3.3x | 64.6x | 16.8x | |||
| $1.5B | $429M | 7.1x | 6.5x | 24.7x | 18.0x | |||
| $951M | $178M | 8.0x | 7.1x | 42.7x | 25.3x | |||
| $510M | $79M | 4.0x | 4.1x | 25.7x | 18.4x | |||
| $589M | $128M | 3.0x | 2.9x | 13.7x | 9.5x | |||
| $360M | $31M | 3.5x | 3.7x | 40.5x | 14.2x | |||
| $371M | $151M | 3.7x | 3.5x | 9.1x | 9.0x | |||
| $285M | $100M | 3.4x | 3.4x | 9.8x | 9.3x | |||
This data is available for Pro users. Sign up to see all Funnel competitors and their valuation data. Start Free Trial | ||||||||
Common questions about Funnel
| When was Funnel founded? | Funnel was founded in 2009. |
| Where is Funnel headquartered? | Funnel is headquartered in United States. |
| Is Funnel publicly listed? | No, Funnel is a private, VC-backed company. |
| How much funding has Funnel raised? | Funnel has raised $106M across 8 funding rounds. |
| What was Funnel's last funding round? | Funnel's last funding round was a $32M Series B in October 2023, led by RET Ventures. |
| Who are Funnel's investors? | Funnel's investors include Trinity Ventures, Techstars, RET Ventures, Camber Creek, Joanne Wilson, Scout Ventures, Social Starts, RiverPark Ventures, Freestyle Capital, Bradley C. Harrison and 17 others. |
| Which companies are comparable to Funnel? | Companies comparable to Funnel include CoStar Group, Bentley Systems, AppFolio, Entrata, Loft and Porch Group. |
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