As venture investors, we’re obsessed with figuring out which companies will be the bright spots in the next few years. Typically, the perfect startup blends innovation and functionality, which for us means high-potential startups that meet the needs of our strategic investors. We favor companies with:
Easy Owner Implementation
- Cost savings are paramount. Owners are deterred from adopting technology with high upfront costs or lengthy onboarding that requires reconfiguration of their tech stack.
- We favor solutions that are no- or low-cost for the owner, both in terms of pricing and the load internal teams have to take on.
- In the RET Ecosystem: GetCovered, an insurtech company that streamlines the purchase and tracking of property and casualty insurance, has a free-to-owner model – and it’s working.
- Not only does the product provide a valuable service, it incurs no costs for owners — in fact, it gives them a new revenue stream. It also takes less than one day to deploy.
Seamless Integration into Existing Workflows
- Inertia is real – operators do not like to change how internal teams execute daily tasks. They want tools that fit seamlessly into existing workflows while providing superior outcomes
- Startups that minimize the disruption of existing workflows and create new efficiencies consistently outperform more disruptive solutions.
- In the RET Ecosystem:
- Falkbuilt leverages tech to make prefab interior walls offsite. The company intentionally aligns with conventional construction methods, making installation intuitive and seamless for trade workers on site. Falkbuilt also virtually eliminates on-site waste, making it easier for boots-on-the-ground teams to complete their jobs.
- Turno connects with short-term rental calendars to automatically schedule and delegate cleaning services. It works alongside Airbnb and other rental sites without altering the posting or booking process, saving hosts time by removing the hassle of coordinating with cleaners directly.
Clear ROI
- In theory, most people like radical new technologies with revolutionary potential.
- But in an uncertain economy, owners favor tech that provides demonstrable ROI. Products with obvious returns – cost cutting, time savings, new revenue streams – naturally experience more success at this stage in the cycle.
- In the RET Ecosystem: GiGstreem installs and operates ubiquitously available WiFi in multifamily buildings and semi-public infrastructure to allow ease of access, lower costs, and better performance. The company helps generate additional revenue for multifamily owners while streamlining WiFi set-up and service for residents.
- Owners are realizing an uplift in NOI per unit of $20-$40 with returns on capital invested north of 20%.