SFR Software Services Vendor Avenue One Raises $100M

Software and data platforms that allow investors, particularly institutional ones, to more easily identify properties of a specific type, have increasingly become popular. Avenue One, which started in 2020 and focuses on single-family rentals, announced that it raised $100 million in a “strategic funding round” led by early investor WestCap and including MetLife Investment Management and others. Other existing investors are credit funds from KKR and Global Atlantic.

The sum is large given current economic pressures and ongoing concern and pulling back on the part of investors. The money will go to improving the software platform, building a local partner network, and expanding its institutional marketplace.