ApartmentIQ has secured a $25 million follow-on investment from Susquehanna Growth Equity (SGE) as the multifamily real estate technology company expands its market intelligence, revenue management, and AI products. The investment also comes as ApartmentIQ reaches more than 8 million customer units across over 1,500 multifamily portfolios.
The Madison, Wisconsin-based company, formerly known as Rentable, has moved from operating as a consumer apartment marketplace to building technology for multifamily property operators. Its platform now helps operators track market conditions, manage revenue, and automate marketing and other operational tasks.
Susquehanna Growth Equity Extends Its Support
The latest investment continues SGE’s relationship with ApartmentIQ. Susquehanna Growth Equity previously led the company’s $22.5 million Series B financing in 2021, when the business operated under the Rentable name.
ApartmentIQ has described the latest transaction as a follow-on investment, rather than announcing it as a new Series C round. The company said the funding will support its platform expansion, increase investment in MavenAI and other AI-driven products, and help grow its engineering, data, product, and go-to-market teams.
Platform Reaches 8 Million Customer Units
ApartmentIQ has expanded its customer base significantly during its transition into a multifamily technology platform. The company said its products now support more than 1,500 portfolios and 8 million customer units. Its platform also reaches 70% of the National Multifamily Housing Council’s Top 50.
At the centre of its platform is a market survey product that provides daily, unit-level information on apartment pricing and availability. ApartmentIQ builds this intelligence entirely from publicly available data. The company designed the platform to reduce the manual work traditionally required by multifamily operators to monitor competitors and track changes in local rental markets.
ApartmentIQ Expands Into Revenue Management
ApartmentIQ has built additional products around the data collected through its market intelligence platform. One of them is Explore Pro, a market intelligence product for operators, investors and developers. It helps users identify opportunities involving acquisitions, development, redevelopment and competitive positioning.
The company also launched Daylight, an AI-powered revenue management platform. ApartmentIQ says Daylight was trained using nearly six years of daily market data covering 40 million units. The company designed the platform to provide transparent and predictive recommendations based on real market activity. Both Explore Pro and Daylight are currently tracking to surpass 1 million customer units during their first year on the market.
MavenAI Adds AI-Powered Marketing
ApartmentIQ is also investing in automated marketing through MavenAI, its AI-powered multifamily marketing agent. MavenAI handles tasks that property teams have traditionally completed manually. These include updating Google Business Profiles, publishing social media content, and managing property listings across different marketing channels.
The platform now powers more than 10,000 properties, and ApartmentIQ said it has already saved multifamily teams tens of thousands of hours of manual work. The company considers MavenAI its first major move into agentic AI, where software can take action on behalf of property operators instead of simply providing information or recommendations.
Funding to Support the Next Stage of Growth
ApartmentIQ plans to use the new $25 million investment to continue expanding its technology platform and invest further in MavenAI and other AI-powered products. The company also plans to grow its engineering, data, product, and go-to-market teams. ApartmentIQ Co-Founder and CEO Alec Slocum said the company’s focus has changed significantly since SGE first invested. The company now aims to help multifamily operators understand markets in real time, make more predictive decisions, and reduce manual work.
For Susquehanna Growth Equity, the latest investment continues its backing of ApartmentIQ as the company broadens its product offering. SGE Managing Director Josh Elser pointed to ApartmentIQ’s expansion in market intelligence, revenue management and marketing automation as part of the company’s growth.
With the new investment and a platform covering more than 8 million customer units, ApartmentIQ is strengthening its position in multifamily real estate technology. Its growing product portfolio shows how property operators are increasingly using real-time data and automation to make pricing, market research, and marketing decisions more efficiently.
