100 Secures $5.2M Pre-Seed Funding in Largest Proptech Pre-Seed Round to Date

Multifamily rental software startup 100 has announced the closure of a $5.2 million pre-seed funding round, marking the largest pre-seed raise in U.S. proptech history. The round, led by MetaProp, RiverPark Ventures, Freestyle Capital, and Contest Point, also saw participation from leading multifamily operators across the country. Additionally, 100 announced a strategic partnership with identity verification platform Clear to launch a fraud-prevention service for the rental market.

The startup’s Verified Renter Network aims to streamline the rental application and screening processes by integrating fraud-detecting security features, offering a system similar to TSA PreCheck, but for renters. By partnering with Clear, 100 seeks to enhance rental security and reduce fraud in an industry that handles billions in annual transactions. The Manhattan-based company, founded by Caren Maio, Vishal Patel, and Shawn Sullivan, is focused on solving issues related to rental fraud and debt in the multifamily housing sector.

CEO Caren Maio, former CEO of Funnel Leasing, and Chief Technical Officer Vishal Patel bring over 15 years of experience in building and scaling multifamily technology companies. Their leadership, alongside the company's new partnerships and funding, positions 100 to make a significant impact on the multifamily rental industry.