Looking Back on a Successful 2023

Even amid a challenging 2023 for both the real estate AND venture capital industries, RET continued to pursue our core investment program.

As a firm, we’re proud to look back on a year with many highlights, including:

Investing in four new portfolio companies, including:

• OnsiteIQ — a construction intelligence platform for developers and other stakeholders to document, monitor and verify progress on development sites.
  • Why? 70% of construction projects fall behind schedule; OnsiteIQ leverages video and computer vision to detect and address potential issues early, mitigating project delays.
• PredictAP – a machine-learning enabled invoice ingestion & coding solution for real estate accounts payable.
  • Why? Large real estate firms rely on key stakeholders to code thousands of invoices a month; PredictAP uses automation to systematize coding knowledge and to reduce the labor time by 80-90%.
• Rent Butter — a tenant screening solution that combines ID and document verification, banking history, and credit behavior analytics into a predictive tenant performance report.
  • Why? Property owners have traditionally used credit scores to accept or reject tenants; Rent Butter leverages alternative financial data overlayed with financial behavior analytics to create a more predictive decision model for tenant screening.
• Sparkfund — an energy transition management platform that helps commercial institutions manage the participants that deliver green capital projects.
  • Why? Sustainability teams are understaffed and overwhelmed with conflicting demands from key stakeholders (management, regulators, vendors, and consultants); Sparkfund provides technology-agnostic expertise, analytics, and deployment capabilities to cut through the noise. It helps real estate firms deliver on sustainability goals and save up to 35%.
• Follow-on investments in many of our most successful portfolio companies, including:
  • Conservation Labs' $7.5-million Series A round
  • Engrain’s $12-million Series A round
  • Gigstreem’s $59 million strategic raise
  • Markerr's $6.6-million Series B round
  • Picket’s $20-million Series B round
  • Funnel’s $32-million Series B extension

Organizing the first ever public RET event

• The Multifamily Kick-Off Summit at Blueprint featured four curated panels on timely topics at the intersection of real estate and innovation.

Expanding the RET team

• Former RealPage and On-Site.com executive Monte Jones joined as a senior advisor alongside other industry veterans Jerry Davis and Shawn Mahoney.