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Entrata provides a comprehensive property management software platform with a single login and open-access architecture. It offers a wide range of online tools—including websites, mobile apps, payments, lease signing, accounting, and resident management—so property teams can run operations from one place. The service is delivered as a subscription-based software-as-a-service, and it includes an open API that lets clients connect third-party applications and customize their tech stack. Entrata serves more than 20,000 apartment communities nationwide. Its core differentiation comes from combining a broad, integrated toolset with open integrations, enabling property managers to streamline workflows and tailor the system to their needs rather than juggling multiple vendors. The company aims to help property managers operate more efficiently and deliver a better resident experience through a unified, adaptable software platform.
Industries
Enterprise Software
Real Estate
Company Size
1,001-5,000
Company Stage
Growth Equity (Venture Capital)
Total Funding
$707M
Headquarters
Lehi, Utah
Founded
2003
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Total Funding
$707M
Above
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Funded Over
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Report: AI landlord EliseAI targets $3.7B valuation with $300M raise from a16z and Bessemer. August 18, 2026 * EliseAI is reportedly in talks to raise $300M at a $3.7B valuation, per Business Insider. * a16z and Bessemer are discussing leading the round. * The company was valued at $2.2 billion in August 2025, a possible 68% jump in a year. EliseAI is in talks to raise $300 million at a $3.7 billion valuation, with a16z and Bessemer discussing a lead role, according to Business Insider. Previously, EliseAI raised $250 million at a $2.2 billion valuation in August 2025. If this new round closes anywhere near what's being reported, the company will have added $1.5 billion in value in 12 months, in a funding environment where many AI startups are struggling to raise at all. From admin assistant to AI unicorn. Minna Song and Tony Stoyanov met at Cambridge as undergraduates. Song later took a job as an administrative assistant at a New York real estate firm, where she watched leasing teams drown in the same handful of tenant questions, over and over, every day. That's the problem EliseAI was built to fix. She and Stoyanov started the company in 2017. The product itself is fairly unglamorous, which might be the point. EliseAI's AI assistants answer prospective tenants by text, email, and phone, book apartment tours, and log maintenance requests. A property manager running several thousand units can let the system sort and route routine maintenance tickets on its own, instead of paying a human to triage each one. In 2023, EliseAI took the same idea into healthcare, aiming it at front-desk and scheduling bottlenecks that look a lot like the ones it had already solved in housing. It isn't the only company chasing that idea. Lette AI is going after the same agentic automation angle against incumbents like AppFolio, Yardi, Entrata, and RealPage, though it's tiny by comparison. Dwelly is automating lettings in the UK, mostly by buying up smaller agencies. Flow, Adam Neumann's post-WeWork venture, hit a $2.5 billion valuation in 2025 with a completely different bet: own the buildings instead of selling software to whoever already runs them. EliseAI's angle is narrower and, arguably, more defensible: sell the automation layer across leasing, maintenance, renewals, and now healthcare, and let everyone else fight over ownership models. The property management software market was worth around $6.53 billion in 2026 and is projected to hit $9.93 billion by 2031, an 8.74% annual growth rate of 8.74%, according to Mordor Intelligence. That's not a huge market by tech standards. It's also one where incumbents like Yardi and RealPage move slowly, which is exactly the kind of gap AI-native challengers like to exploit. The funding so far. The Series E in August 2025 was led by a16z, with Bessemer and Sapphire Ventures also investing. Before that, the $75 million Series D in August 2024 - led by Sapphire - made EliseAI a unicorn at a $1 billion valuation. The company said it passed $100 million in annual recurring revenue in early 2025, and headcount has grown from around 150 to more than 300 since the Series D, spread across offices in New York, San Francisco, Boston, and Chicago. Whether any of this happens the way Business Insider describes it is still an open question. What's not in question is that investors keep paying up for companies that promise to make the most tedious parts of running a business disappear, and EliseAI, for now, is one of the ones getting paid the most to try.
Entrata appoints OpenAI Executive Adena Hefets to Board of Directors. By GlobeNewswire June 10, 2026 Former Divvy Homes founder and current OpenAI leader brings expertise in artificial intelligence, real estate technology, and business scaling LEHI, Utah, June 10, 2026 (GLOBE NEWSWIRE) - Entrata, a leading operating system for the multifamily industry, today announced the appointment of Adena Hefets to its Board of Directors. Hefets currently leads Financial Services Partnerships at OpenAI, where she works with some of the world's most innovative companies to accelerate AI adoption and transformation. She brings extensive experience building and scaling technology businesses at the intersection of housing, financial services, and artificial intelligence. Prior to joining OpenAI, Hefets co-founded and served as Chief Executive Officer of Divvy Homes, a pioneering technology platform focused on expanding pathways to homeownership, where she led the company through its rapid growth, category creation, and successful sale to one of the world's leading real asset managers for approximately $1 billion, earning a reputation as one of the proptech industry's most respected entrepreneurs and operators. "Adena is one of the most accomplished leaders in housing technology, now working at the forefront of AI innovation and adoption at OpenAI," said Adam Edmunds, Chief Executive Officer of Entrata. "Very few leaders have had a front-row seat to both the transformation of housing and the transformation of technology through artificial intelligence. Her experience, vision, and perspective will be incredibly valuable as Entrata continues to lead the next generation of innovation in our industry." "At Silver Lake, we look for companies that actively shape the future of technology in the industries they serve. Entrata is doing that with AI in property management," said Kyle Paster, Managing Director at Silver Lake and Board Member at Entrata. "We believe Entrata is well positioned to lead in a complex and highly regulated industry, having transformed how they build products internally and delivering value for customers with a broad and diversified offering that helps property managers across the entire resident lifecycle. We are excited to welcome Adena to the board to help Entrata extend that advantage." "Having spent much of my career building and scaling technology businesses in the housing industry, I knew Entrata's reputation long before joining OpenAI," said Hefets. "For years, I've watched the company push the industry forward. They've consistently challenged conventional thinking about what property management software can be. Today, artificial intelligence is creating an opportunity to fundamentally reimagine how housing is operated, and Entrata is uniquely positioned in leading that transformation. I'm excited to join the Board and help support the company's vision for Autonomous Property Management." Prior to Divvy, Hefets worked in investment banking at Bank of America, as well as in product strategy at Square and in private equity. She holds a Bachelor of Science from Cornell University and an MBA from Stanford University, and will serve on Entrata's Audit Committee. With the full support of Silver Lake and Entrata's other key investors, the appointment is consistent with Entrata's early leadership and continuing acceleration of step-change investments in artificial intelligence, automation, and next-generation technologies designed to simplify operations, improve efficiency, and create better experiences for property owners, operators, and residents. About Entrata Entrata is a leading operating system for multifamily communities worldwide. Since 2003, Entrata has delivered innovative property management software spanning the entire leasing lifecycle. Today, Entrata serves millions of residents across communities globally. Learn more at www.entrata.com. Devin Getz
Entrata collaborates with OpenAI to define the future of Autonomous Property Management. New agreement with OpenAI brings additional AI agents to rental housing at scale, transforming how properties operate and how residents experience their homes. June 07, 2026 19:00 ET | Source: Entrata LEHI, Utah, June 07, 2026 (GLOBE NEWSWIRE) - Entrata, a leading operating system for the multifamily industry, today announced a long-term strategic collaboration with OpenAI to define the future of Autonomous Property Management(TM). Under the agreement, Entrata will gain expanded access to OpenAI's frontier AI models to enhance its existing agents and accelerate development of new autonomous capabilities. For property teams, this will mean more efficient operations across leasing, resident communications, maintenance coordination, accounting, payments, operations, and portfolio management. For residents, it will mean faster service, more responsive communication, and a better living experience. Entrata will also expand its use of OpenAI tools, including plans to make Codex available to employees across the company, as teams use AI agents in their day-to-day work across product development, engineering, and business operations. The agreement brings together OpenAI's advanced AI models with Entrata's platform and deployed suite of AI agents. Leveraging OpenAI's models, Entrata will work to reimagine how rental housing is operated, moving beyond traditional software workflows toward autonomous systems that can execute tasks, make recommendations, and help property teams operate with greater efficiency and scale. The agreement is designed to benefit residents, operators, owners and vendors. For the millions of residents living in Entrata-managed properties, the agreement is focused on delivering faster service, more seamless interactions, and housing experiences that work around their lives. "We're proud to support Entrata as they deploy agents across their operating system and transform how work gets done in the multifamily industry," said Denise Dresser, Chief Revenue Officer at OpenAI. "With models like GPT-5.5 and tools like Codex, Entrata can empower employees with new AI capabilities that drive more efficient operations and deliver higher levels of customer satisfaction." Entrata serves approximately 2.5 million apartment units through its unified operating system, which connects leasing, resident experience, payments, accounting, facilities, and property operations into a single platform. The company has already deployed end-to-end AI agents across leasing, maintenance, payments, and renewals, and continues to expand autonomous capabilities across its platform. "We believe that artificial intelligence represents the most important platform shift since the internet," said Adam Edmunds, Chief Executive Officer of Entrata. "There's a lot of repetitive work in property management. For twenty years, property management software assisted with that work. The next generation will own it, so property teams can focus on their residents. We've been building toward this moment, and with OpenAI, we're not just participating in that future. We will help define it." As part of the agreement, Entrata plans to expand its broad portfolio of AI agents across the full resident lifecycle, from first inquiry through move-out, with a focus on capabilities that improve outcomes for both property teams and the people who call their communities home. About Entrata Entrata is a leading operating system for multifamily communities worldwide. Since 2003, Entrata has delivered innovative property management software spanning the entire leasing lifecycle. Today, Entrata serves millions of residents across communities globally. Learn more at www.entrata.com. Media Contact Devin Getz [email protected]
Entrata collaborates with OpenAI to define the future of Autonomous Property Management. * 6 hrs ago LEHI, Utah, June 07, 2026 (GLOBE NEWSWIRE) - Entrata, a leading operating system for the multifamily industry, today announced a long-term strategic collaboration with OpenAI to define the future of Autonomous Property Management(TM). Under the agreement, Entrata will gain expanded access to OpenAI's frontier AI models to enhance its existing agents and accelerate development of new autonomous capabilities. For property teams, this will mean more efficient operations across leasing, resident communications, maintenance coordination, accounting, payments, operations, and portfolio management. For residents, it will mean faster service, more responsive communication, and a better living experience. Entrata will also expand its use of OpenAI tools, including plans to make Codex available to employees across the company, as teams use AI agents in their day-to-day work across product development, engineering, and business operations. The agreement brings together OpenAI's advanced AI models with Entrata's platform and deployed suite of AI agents. Hantavirus-Hit Cruise Ship Begins Evacuation in Canary Islands Leveraging OpenAI's models, Entrata will work to reimagine how rental housing is operated, moving beyond traditional software workflows toward autonomous systems that can execute tasks, make recommendations, and help property teams operate with greater efficiency and scale. The agreement is designed to benefit residents, operators, owners and vendors. For the millions of residents living in Entrata-managed properties, the agreement is focused on delivering faster service, more seamless interactions, and housing experiences that work around their lives. "We're proud to support Entrata as they deploy agents across their operating system and transform how work gets done in the multifamily industry," said Denise Dresser, Chief Revenue Officer at OpenAI. "With models like GPT-5.5 and tools like Codex, Entrata can empower employees with new AI capabilities that drive more efficient operations and deliver higher levels of customer satisfaction." Entrata serves approximately 2.5 million apartment units through its unified operating system, which connects leasing, resident experience, payments, accounting, facilities, and property operations into a single platform. The company has already deployed end-to-end AI agents across leasing, maintenance, payments, and renewals, and continues to expand autonomous capabilities across its platform. "We believe that artificial intelligence represents the most important platform shift since the internet," said Adam Edmunds, Chief Executive Officer of Entrata. "There's a lot of repetitive work in property management. For twenty years, property management software assisted with that work. The next generation will own it, so property teams can focus on their residents. We've been building toward this moment, and with OpenAI, we're not just participating in that future. We will help define it." As part of the agreement, Entrata plans to expand its broad portfolio of AI agents across the full resident lifecycle, from first inquiry through move-out, with a focus on capabilities that improve outcomes for both property teams and the people who call their communities home. About Entrata Entrata is a leading operating system for multifamily communities worldwide. Since 2003, Entrata has delivered innovative property management software spanning the entire leasing lifecycle. Today, Entrata serves millions of residents across communities globally. Learn more at www.entrata.com. Media Contact Devin Getz Media gallery
Tenants file class action against rent reporting software in new front in fight against rental junk fees. June 1, 2026 Yesterday, advocates from Towards Justice and Kelly Guzzo, PLC filed a nationwide class action lawsuit against property management technology (or "proptech") company Entrata, Inc., alleging that Entrata's RentPlus rent reporting product uses a deceptive auto-enrollment scheme to charge tenants rental junk fees while providing lucrative kickbacks to participating landlords. While Entrata touts RentPlus to young and low-income tenants as a way to build credit and improve credit scores, its marketing to corporate landlords highlights how RentPlus's opt-out model dramatically increases enrollment and drives profit. Plaintiffs Uriah Fish and Kelley Rowan allege that they were deceptively enrolled in RentPlus, which claims to report tenants' on-time rent payments to major credit bureaus to improve consumers' credit scores in exchange for a monthly fee, as part of signing their lease. According to the filing, Entrata's own case studies boast that enrollment and profit exploded when the company stopped letting renters opt into the product and instead required them to affirmatively opt out to avoid being charged. The complaint alleges that Entrata, which filed for an IPO last Thursday, violates laws like the Credit Repair Organizations Act ("CROA") that were designed to protect consumers from deceptive practices regarding credit repair products, ensure they have clear, accurate information when considering whether to purchase a service claiming to improve credit, and prevent credit repair companies for charging customers before providing them with services. "I was shocked when I found out I had been automatically enrolled in RentPlus," said plaintiff Kelley Rowan. "I would have never signed up for RentPlus willingly had I known about it when I signed my lease, especially given the already outrageous number of fees I am being charged. Knowing now that my apartment management company gets a kickback from automatically enrolling its residents in RentPlus makes me feel even more like I'm being taken advantage of." "Landlords across the company increasingly see tenants as a captive audience they can milk for profit, burying them in junk fees for products they do not need and often don't even realize they're paying for," said Toree Lindblad, an attorney at Towards Justice. "At a time when many are struggling to pay rent, it's critical that tenants understand what they're paying for and can make an informed choice about what they need." This case advances Towards Justice's broader efforts to address the crisis in affordable housing for tenants in Colorado and nationwide. Related advocacy includes support for HB25-1090, Colorado's junk fee law and Towards Justice's work on class action litigation, including Collins v. Greystar, challenging the imposition of allegedly illegal junk fees by the corporate landlord and property management firm Greystar.
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Industries
Enterprise Software
Real Estate
Company Size
1,001-5,000
Company Stage
Growth Equity (Venture Capital)
Total Funding
$707M
Headquarters
Lehi, Utah
Founded
2003
Find jobs on Simplify and start your career today