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Year-in-review, Funnel’s 2023 Unpacked

January 10 2024
Press Releases

Celebrating our clients’ wins, fighting housing inequality, closing Series B-2 funding, expanding the product offering to complete the modern front office, moving more multifamily leaders to the new operating model, and continuing to iterate and push the envelope of what’s possible in multifamily

We firmly believe that the multifamily industry’s best, and Funnel’s best, are yet to come. As we kick off 2024, we are proud of the work that brought us to this year. Indulge us, and join us, on a walk down memory lane looking back at the highlights of 2023. 

Throughout the past year, we continued to innovate and disrupt the multifamily industry through partnerships with its clients and expanding the company’s suite of products. From continued iteration of our products, to HOME by Funnel Inc. making its first donation to a non-profit partner organization, to earning awards, to closing on a new round of funding it was an outstanding year.

💪 Our clients are garnering impressive results in a tough multifamily market 💪

Our renter-centric platform drives centralization, ideal renter experiences, cost savings for companies, and relief for overstretched teams. While bold, claims like these are illustrated in the results that our clients are seeing after moving to Funnel: 

  • Mack Property Management increased its prospect sentiment score to 88% after implementing Funnel. Read more. 
  • QuadReal leads the Canadian market with the first adoption of Funnel to drive centralized leasing portfolio-wide. The combination of our AI, automation, and their centralized operations drove a 33% increase in tour-to-lease conversion and provided operational flexibility  Read more. 
  • CARROLL was finally able to centralize its operating model after striking out with other CRM providers. Changing from a property-centric to a renter-centric CRM increased renter retention by 15% and drove down costs for CARROLL. Read more. 
  • New clients like Yellow Tree are joining the PINK side often. Read more. 

🏠 Non-profit HOME by Funnel Inc. made its first donation to partner organization: Entryway 🏠 

The inaugural partnership between the two non-profits brings to life HOME by Funnel Inc.’s goal of creating housing equality. The work knows no end, HOME plans to raise money to support housing equity from various sources, including Funnel Leasing, Inc., which will donate $1 from every new lease signed using Funnel Leasing’s online leasing solution. Read more. 

🥳 The products y’all (already) love keep getting better 🥳

We don’t think “good enough” is ever good enough. We are constantly gathering customer feedback, iterating, integrating, and making everything we build a little better all. the. time. To learn more about our process for including customer feedback into our platform listen to our recent podcast episode — UX will make or break your product decisions — on Apple Podcasts, or Spotify. 

  • Funnel’s Virtual Leasing Agent now fluent in Spanish, which increases equitable opportunities for renters to find homes.
  • AI solution now taking renter phone calls through our Voice VLA offering. 
  • Funnel launched new ResApp product, to create happier residents and make the move-in process less stressful for new renters and teams.
  • MyQueue, the biggest enhancement of a multifamily CRM in years, enables true centralized role specialization for multifamily leaders and leasing teams.
  • Funnel continued to integrate with industry disruptors including: Plaid for application fraud prevention and screening, Zillow to instantly book tours, and self-service apartment shopping with Zumper. 
  • Updated search functionality that allows users to quickly find important renter info
  • Countless new reports and filtering options give our customers even more data to make informed business decisions.
  • Redesigns of our messaging, merge, and tour booking modals for a better-than-ever agent + renter experience.
  • Say goodbye to remembering passwords, and say hello to biometric logins (Touch ID, Face ID) for ResApp users.
  • Our VLA supports new intents like corporate leasing and business hours to answer more renter questions than ever.

🚀 We raised $32 Million Series B-2 financing to expedite the adoption of the new operating model by multifamily leaders 🚀 

In a challenging funding environment, only the most competitive companies are finding a path forward. We are incredibly proud to be among them. The financing is led by RET Ventures, the leading VC investor in “rent tech”, whose 50+ strategic investors comprise the largest group of apartment owners and operators working together to drive innovation in multifamily, representing over 2.5 million rental units. They are joined by Trinity Ventures and a group of leading multifamily owner operator co-investors. Read more. 

🏆 We won awards 🏆 

  • Funnel was recognized with three big Best Places to Work awards, because of our PINK core values (Prosocial, Integrity, Novel and Kick-ass) exhibited daily by our team members: 
    • Multifamily leadership honored us with the 2024 Best Places to Work Multifamily® 2024 and the Best Places to Work Multifamily® for Women. In its 9th year, the Best Places to Work Multifamily® program continues to fulfill its mission to advance leadership and innovation for multifamily professionals by recognizing those organizations that own, manage, and support apartment communities nationwide and who are making an impact in the world through employee engagement. 
    • We were honored with a 2023 Tampa Bay Inno Award, alongside 20 other local companies and people who represent a wealth of talent, innovation, and disruptive strategies in Tampa Bay’s tech ecosystem.

🎧 Funnel launched Multifamily Unpacked a community focused on technology and changes shaping the industry 🎧

Funnel CEO, and Multifamily Unpacked host Tyler Christiansen sits down with some of the brightest minds in multifamily to have honest conversations about the industry and the tech that defines it. The podcast shares an unfiltered perspective about the trends, operating models, and viewpoints that are changing the lives of both renters and everyone working at property management companies. 

Listen on Apple Podcasts, Spotify, or wherever you get your podcasts. 

The Future is P.I.N.K.

We mean P.I.N.K. like our values — prosocial, integrity, novel and kick-a** — because we know none of this would be possible without the dedicated Funnel team, our industry-leading clients, and partners who worked to make this all possible. 

Learn how 2024 can be your best year yet with Funnel.

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