InvestmentsReal Estate

Rental management platform TurboTenant raises $2.2 million to fund growth

Will use capital raised to roll out new features and expand market share

TurboTenant, a free platform for landlords that includes rental marketing, online rental applications, tenant screening, renters insurance, tenant management and communication, is planning to grow thanks to some newly raised funding.

The company announced this week that it raised $2.2 million in funding.

The free platform for renters and independent landlords, garnered new investments from Service Provider Capital; Michael Beaudoin, co-founder of HomeAdvisor; and Karl Sowa, former CMO of HomeAdvisor.

According to the TurboTenant release, Kirk Holland of Access Venture Partners led the funding round.

TurboTenant says it plans to use the new capital to expand its team and marketing efforts as well as pour some gasoline on product development.

"We have game-changing features planned and we are excited to now have additional capital to make the rental process easier and faster for millions of landlords and renters," TurboTenant Founder and CEO Sarnen Steinbarth said in a statement.

According to its release, the number of landlords using TurboTenant has tripled in just over a year. So far, more than 100,000 U.S. landlords use the platform and over 1 million tenants have used the platform to find a rental home.

Most Popular Articles

Sales of new houses will rise to a 13-year high in 2020, NAR’s chief economist says

Sales of new homes probably will rise to a 13-year high in 2020 as the U.S. dodges a recession, according to Lawrence Yun, chief economist of the National Association of Realtors.

Nov 08, 2019 By

Latest Articles

RealPage: The size of the average U.S. household is growing

For the first time since 1850, the average size of the U.S. household is on the rise, RealPage says. And it’s not just the kids or Millennials, either. Households are becoming multi-generational.

Nov 12, 2019 By