Mynd operates an online platform that assists investors with finding and managing single-family rentals from any location within the U.S. The company said it will use new capital to expand operations and advance its technology platform. Mynd manages properties and provides tools aimed at streamlining SFR investment and management. The company reports more than $3.5 billion in assets under management. Those assets span Arizona, California, Colorado, Florida, Georgia, Indiana, Nevada, North Carolina, Oregon, Tennessee, Texas, and Washington. Mynd provides a vertically integrated platform for investors to find, finance, purchase and manage single-family rental properties, combining a desktop interface and mobile apps with local operations. The company operates a purpose-built system called OTTO that it describes as a custom stack for real estate investing and property management. Mynd currently manages over 9,000 rental units across 25 markets and added 1,846 homes last year; it expects to add roughly 8,500 homes this year across retail and institutional channels. On the retail side it serves roughly 4,000 investors, while Invesco is its largest institutional client. The company plans to expand into 15 additional markets over the next three years and will use new capital to upgrade its digital platform, automated workflow engine, underwriting, mobile apps and omnichannel communications. Mynd has grown headcount to 568 employees from 366 a year earlier. Mynd Property Management is a full-stack, tech-enabled property management company headquartered in Oakland, Calif., serving the non-institutional single-family rental (SFR) sector. The company manages more than 7,500 homes across 16 markets and emphasizes virtual property management capabilities such as remote leasing, self-showings, and 3D tours. Mynd combines disruptive technology with local expertise to deliver services for small residential property owners and renters. The firm is developing an end-to-end real estate investment and management platform to enable remote SFR investing in attractive metros nationwide. Mynd positions itself to scale within the $20-billion-plus non-institutional SFR segment and to improve efficiency and the leasing/resident experience. Mynd is an Oakland, CA–based tech-enabled property management company that provides a full-service platform for small multifamily buildings and single-family homes. Co-founded by Doug Brien and Colin Wiel, the company leverages technology to drive more efficient operations and deliver real-time transparency to property owners. Its flagship solution is designed to increase profitability for owners through improved operations and reporting. Mynd raised $20M in a Series B led by Lightspeed Ventures, bringing its total funding to $36M. The company said it will use the new capital to accelerate national expansion of its flagship solution. Existing investors Canaan Partners and Jackson Square Ventures participated in the round. Mynd provides full-service property management for multi-family residential buildings with 50 units or less and single-family rentals, using technology, systems and data to streamline operations. Through a mobile app and online dashboard, owners can view real-time rental income, vacancies and work orders and communicate with Mynd’s property management team. The company is led by co-CEOs Doug Brien and Colin Wiel. Mynd intends to use recent funding to grow staff and expand throughout the San Francisco Bay Area and beyond. Financially, the company raised $5.1M in a Series A1 and has raised $10.6M in total to date. The product emphasis is on combining tech and human operations to serve small-scale residential landlords efficiently.

Total raised

$159M

Funding rounds

6

Latest round

Equity

Latest activity

Jul 2023