Platform for connecting brokers with owners gets funded by Highland Capital Partners and Draper
[Corrections made at 2:30 PM PST: Round is a Series B, not Series A and RentJuice works with all browsers, except for ad-posting tool (only in Mozilla Firefox.]
RentJuice, a platform that connects brokers and agents with landlords and property managers, announced Tuesday that it has closed a $6.2 million round of funding led by Highland Capital Partners, with continued participation from Tim Draper, Managing Director at Draper Fisher Jurvetson, who led the company’s seed financing. A self-described “virtual rental office,” RentJuice helps brokers eliminate paperwork associated with applications, credit checks, background checks and more by providing an online platform for apartment and home listings that includes those services. Through the platform, brokers can also post ads directly to “dozens” of websites, including Craigslist, Trulia and HotPads. Landlords using RentJuice control which brokers see their listings and update those listings in real-time. 
The process of listing open properties for rent is a complicated process for everyone involved--from owners to brokers to renters. If an online service could actually manage to ease the flow of that process, it could drastically transform the industry. “Over the last six months we’ve had the opportunity to witness RentJuice’s progress, and the most remarkable thing about the Company is its passionate, loyal following,” said Peter Bell, general partner at Highland. “It really struck me to see how often and how deeply RentJuice is being used by its customers and the difference it’s making in their real estate businesses. We look forward to being instrumental in bringing RentJuice to cities nationwide.” The platform expanded in mid-January from markets in Boston, Chicago, Los Angeles and Miami to New York, a move that’s sure to create strong growth.Much of RentJuice is free to use, but users can upgrade to a suite of paid features that automate tasks, like advertising, lead management and lease paperwork. The ad posting tool, one of the paid features, is only available to Firefox users.
All in all, the service seems very much worth the time for brokers and owners.
Steven Loeb
