Alfred Raises $125M; Acquires RKW Residential

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Funding of $125M was raised by Alfred, a New York-based residential tech company.

RKW Residential is a Charlotte-based property managing company in the Southeastern U.S. The strategic acquisition was announced by the company. The acquisition, Alfred’s first in the property management space, speeds adoption of Alfred Operating System (AOS) to RKW’s 30,000 single-family and multi-family rentals in cities including Miami, Charlotte and Atlanta.

The round, which consists of a $50m initial closing and access to up to an additional $75m for future acquisitions, was led by Rialto Capital with participation from NEA, 166 2nd Financial Services, and Holland Management, joined by Greystar Founder and CEO Bob Faith, Grubhub/Seamless Founder Jason Finger, and RKW Co-founder Jay Massirman.

Alfred, founded in 2014 by Marcela Sapone & Jessica Beck, is an advanced residential management platform provider that currently serves more than 143,000 units in 44 markets across the U.S.A and Canada. With Alfred’s residential management software, AOS, owners and operators have a single stop to support all aspects of residential living including resident management and communication, management of on-site operations and maintenance, payments, and unique community and resident wellness amenities. Smart package integrations, digital leasing, utility and energy management and predictive insight into the health and maintenance of buildings, white-glove move services, vendor integration management, renewal boosters, and resident retention offers are just a few examples of solutions. All Alfred partners will have access to AOS.

RKW is Alfred’s fourth acquisition. HOM, a wellness and events platform; Bixby (property management technology necessary to develop the AOS platform); and WunWun (an on-demand service platform).

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