Venn, an Israeli-founded real estate technology company, has acquired US-based Zuma, an AI startup focused on multifamily housing, for US$50 million to expand its platform for apartment owners and managers.

The deal adds Zuma’s tools for leasing, renewals, rent collection, and resident communications to Venn’s platform, which connects property data and workflows across real estate operations.

Zuma was backed by Andreessen Horowitz, Y Combinator, and King River Capital. After the acquisition, co-founder Kendrick Bradley will become general manager of Venn Leasing, and co-founder Shiv Gettu will become chief partnerships officer.

Venn said it serves more than 270 property owners and operators, and expects to manage more than 1 million residential units by year-end. The company has raised more than US$140 million to date.

The acquisition comes as multifamily software vendors use AI to automate prospect engagement and other leasing tasks.

It also comes as the US Department of Justice has sued RealPage over an alleged algorithmic pricing scheme in rental housing.

🔗 Source: Calcalist

Recent Venn developments