MetaProp NYC Announces First Participant, Sixth Corporate Partner

metaprop-logoMetaProp NYC, the New York real estate technology accelerator, announced its first 2015/2016 participant Rentalutions, Inc. – an online platform created to help landlords easily manage their residential rental properties – and its sixth corporate partner, the Real Estate Board of New York (REBNY), at its launch event on July 23.

The three-year commitment by REBNY will provide the accelerator and its selected companies with direct access and insights to the real estate industry through space sharing arrangements, mutual marketing support, real estate and technology education opportunities, collaborative events, and the benefits of REBNY Allied Membership. REBNY’s support as a corporate partner will also provide accelerator participants with insights as to emerging market trends, technology gaps in the real estate market, and potential growth areas for the industry that could encourage new technologies in the future. In addition to REBNY, MetaProp NYC corporate partners include Zillow, Warburg Realty, DLA Piper, EisnerAmper, and The News Funnel.

“New York City is increasingly becoming the home for technology-related real estate ventures,” said REBNY President John Banks. “Together we will deepen New York’s leadership as the hub for both real estate and real estate tech. We think it’s a great way to help the best real estate technology ideas thrive so they can one day be a real benefit to REBNY members.”

“REBNY is one of New York’s most influential and respected institutions,” said MetaProp NYC Co-Founder and Managing Director Aaron Block. “More importantly, REBNY’s leadership takes innovation and technology seriously. Our start-ups will benefit from access to the REBNY membership and the organization’s vast educational resources. We look forward to the greater real estate community’s support as we help build the world’s most promising real estate technology companies right here in New York City. It’s amazing to see the local community rally behind the brightest stars.”

Rentalutions, Inc. is the first of eight technology-driven real estate industry startups MetaProp NYC will select to participate in a 16-week intensive growth program for the 2015/2016 year. Rentalutions was created to help small- and medium-sized landlords find tenants with online rental listings, easily screen tenants with TransUnion credit and background checks, create and electronically sign lease agreements, collect rent, and track maintenance requests, among other tools. Tenants can also take advantage of this end-to-end platform designed specifically for do-it-yourself landlords, by using the Rentalutions website to apply for units, sign leases, make rent payments, and build their renter profiles.

MetaProp NYC Founders Block, Peters and Aarons. (Photo credit: PRLog)

MetaProp NYC selected Rentalutions from an initial applicant pool of nearly 100 technology-driven real estate industry startups, and will participate in an $800,000 seed round led by former FeedBurner founder Steve Olechowski. The round includes other prominent angel investors including Brad Feld of Foundry Group. Rentalutions founders will split their time working between New York and Chicago during the 16-week accelerator program.

“MetaProp NYC gives real estate tech start-ups an unfair advantage,” said Rentalutions, Inc. CEO Ryan Coon. “The founders know how to build fast-growing businesses and are giving access to their all-star line-up of mentors and corporate partners like Zillow and REBNY. We’re proud to be a part of the inaugural class and we look forward to rolling out Rentalutions in New York and strengthening our relationships within the industry during the 2015/2016 program.”

“We’ve had our eyes on Rentalutions’ Co-Founders Ryan Coon and Laurence Jankelow for almost a year now,” said Block. “They have an impressive track record and have grown the start-up like a weed. We fell in love with their best-in-class platform for hard-to-serve small- and medium-sized landlords. This is a massive, fragmented market and we’re confident that this team has what it takes to win the day.”

Applications for the MetaProp NYC 2015/2016 cohort opened on June 16, 2015 and rolling admissions will continue through August 14, 2015. The program will culminate in a Demo Day for partners, investors, venture capital, and media in early 2016.