Renew, the AI-powered platform helping multifamily and single-family apartment operators keep residents longer and reduce costly turnover, today announced a $12 million Series A financing led by Haymaker Ventures, with participation from Goldcrest Capital, Upfront Ventures, and numerous Renew customers. The funding will scale Renew’s retention platform and launch the industry’s first Resident Referral Network.
The U.S. rental market faces record pressure: operators lose nearly half of their residents every year, driving billions in vacancy loss and marketing costs, while renters struggle with rising rents, limited housing supply, and fragmented leasing processes. Renew addresses both sides of the equation by turning the renewal moment into a strategic advantage, helping operators protect portfolio performance, improving resident retention by 3%, and reducing vacancy loss by 4 days while giving residents a seamless reason to stay.
Renew’s connected ecosystem includes:
- Renewal Management System (RMS) – Automates renewals end-to-end, ensuring every offer is timely, compliant, and transparent. Site teams save hours of busywork while residents enjoy a clear, stress-free renewal experience.
- Renew Data Engine – Surfaces churn signals and renewal trends portfolio-wide, enabling predictive strategy instead of reactive reporting.
- Renew AI – Personalizes offers, optimizes timing, and answers operator questions in real time.
- Renew Marketplace – The industry’s first resident referral network, enabling in-portfolio transfers and trusted referrals across portfolios.
- Revenue Ecosystem – Monetizes the stay-or-go moment with embedded services and rewards that benefit both residents and operators.
“In 2024, NMHC Top 50 operators piloting Renew uncovered that many departing residents weren’t leaving renting—they were relocating outside their portfolio’s footprint,” said Rob Hayden, Co-Founder and CEO. “Instead of treating those move-outs as lost business, lead-sharing turned them into opportunities—delivering a better resident experience and creating an entirely new revenue stream.”
By linking renewal decisioning, retention, fraud prevention, ancillary products, and move-in/move-out workflows, Renew transforms turnover from a cost center into a revenue driver.
“In just a short period of time, we’ve seen the renewal window shrink dramatically,” said Mark Juleen, COO of J.C. Hart Company. “What used to take an average of about 45 days is now down to 10–15 days for residents to make a decision, and that’s been incredible.”
Founded in 2021 by Rob Hayden and Kevin Murphy, Renew was born out of a fundamental gap in multifamily: operators lost half their residents every year, yet no platform treated renewal as a strategic lever. The insight was simple but powerful—renters don’t churn from renting, they churn from relationships. Renew exists to close that gap and make the renewal moment central to how the industry grows.
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