Avenue One raises $100 million

Property technology startup Avenue One has raised $100 million in a funding round led by WestCap, with participation from MetLife and others. According to Bloomberg, the fundraising values Avenue One at $1 billion.

Founded in 2020, the NY-based startup helps single-family landlords buy and sell rental homes. Its service platform combines “proprietary data” and a network of hundreds of partners to find, buy, renovate, lease and manage residential rental properties on behalf of investors.

Avenue One plans to use the new capital to improve its technology offering and expand an online marketplace to help landlords hire construction contractors, real estate agents and other service providers.