Revyse, a pioneering vendor management software built for the multifamily industry, announced the closing of a $1-million seed investment from leading real estate technology venture capital firm RET Ventures. This latest capital raise comes on the heels of the company’s recent $1 million raise in May.
Launched in 2023 by rental real estate and proptech veterans Bobbi Steward and Ben Steward, Revyse was created to modernize and streamline vendor management for multifamily owners and operators. The company’s all-in-one vendor lifecycle management software, Revyse Vendor Intelligence, includes a robust AI-powered contract management platform specifically built for multifamily. It allows operators to track contracts and agreements across the enterprise, providing unparalleled visibility into spend and revenue opportunities. By enabling operators to manage intricate vendor contracts across their portfolios through a centralized platform, Revyse reduces vendor-related risks and boosts operational efficiency.
“In my days as a multifamily marketing executive, I learned firsthand about the inefficiencies within traditional vendor management processes. Real estate executives deal with many dozens of vendor contracts on both the corporate and property level, and attempts to manage renewal dates – or even to track who is managing a vendor relationship – quickly spiral into chaos,” said Bobbi Steward, CEO and co-founder of Revyse. “At Revyse, our goal is to bring the process of multifamily vendor relationship management into the 21st century. RET’s strong relationships within the multifamily industry give it a keen understanding of the pain points felt by real estate operators, and we’re thrilled to partner with RET as we continue building out our product suite.”
In addition to its vendor management software, Revyse also features a marketplace for multifamily owners to search for and engage with potential vendors – from technology providers to onsite vendors like turn services. The platform streamlines the procurement process by offering transparent information, including product descriptions, pricing, integrations, demos, and reviews, putting buyers at the forefront of the procurement process and helping them make more informed decisions. Vendors, in turn, benefit from improved product marketing and streamlined sales processes with engaged buyers.
“Vendor management is a headache for executives across many industries, but the nature of the real estate industry – which has a blend of corporate agreements, MSAs and property agreements – adds a significant level of complexity. Manually keeping track of disjointed contracts is a huge logistical issue, and we’ve even heard of owner-operators who were unknowingly paying for property-level services several years after selling a property,” said John Helm, Partner at RET Ventures. “By creating a single platform in which users can store, track, and manage all provider relationships, Revyse empowers owners to be more strategic in how they identify and engage with vendors. The platform has major positive implications for the future of multifamily property management, and we look forward to supporting Revyse as it continues to expand and enhance its product offerings.”
Since launching last year, Revyse has gained significant traction within the multifamily industry, and the platform is currently being utilized by some of the largest institutional owners and operators in the country.
Revyse will use the capital from this funding round to continue progressing its product roadmap, including enhancements to its ‘Spend Insights’ feature, which flags anomalies in contract data and provides proactive insights to optimize expenses, surface rebate opportunities, and reduce unnecessary spending. In the coming months, the company also plans to roll out vendor credentialing, which will help reduce onboarding risks for operators by expediting the vetting and compliance process.
Stay Ahead of the Financial Curve with Our Latest Fintech News Updates!
