Participated · Equity · Apr 2023

Gigstreem provides managed, property-wide broadband and private Wi‑Fi that removes the need for residents to coordinate with local ISPs or install routers, delivering fast, reliable connectivity across apartment communities. The company serves apartment buildings, residential communities, businesses and events, and its platform enables smart devices and other property technologies that enhance resident experience and operator value. Since its launch in 2017, Gigstreem has grown its footprint to service 52,000 apartment units across 28 markets and plans to launch operations in roughly 40,000 additional apartments in 2023. The firm has expanded via acquisitions (including netBlazr in August 2022) and market entries into Seattle, San Francisco and Dallas. Gigstreem emphasizes local customer support and engineering as part of its service proposition and has used recent capital to scale those capabilities. Recent fundraising and M&A activity are positioned to accelerate national expansion and deepen market share in Texas, Florida, California, Washington and Georgia. GiGstreem is an in-building gigabit internet service provider launched in 2017 and headquartered in New York. It deploys a Ubiquitous WiFi platform that delivers continuous property-wide WiFi coverage on private networks for multifamily, commercial and multi-tenant properties. The platform enables next-generation wireless and technology-enabled services including IoT, smart devices, in-building mobility (including CBRS), Connectivity-as-a-Service and building management systems. GiGstreem currently operates in multiple U.S. East and West Coast markets serving commercial businesses, residential communities and apartment buildings. The company plans to expand across major U.S. cities; the Crestline investment will fund infrastructure deployments to satisfy a stated backlog of demand and support expansion into 15 new metropolitan areas and hundreds of thousands of units. GiGstreem is a portfolio company of RET Ventures and LNC Partners, and Houlihan Lokey acted as exclusive financial advisor on the transaction. GiGstreem delivers fiber and fiber/microwave hybrid internet service to homes, businesses and multifamily properties. Its hybrid model maintains gigabit speeds competitive with pure fiber while reducing costs, offering bandwidths from 100 Mbps to 10 Gigabit and beyond. The company operates a national network serving hundreds of communities in Maryland, Virginia, DC, New York and Florida and cites customers including Buzzfeed, Microsoft, Nike, Samsung and Yahoo. GiGstreem positions its service as a luxury amenity for property owners, helping increase NOI through high-speed reliable internet and customer service. The company said it will use the recently raised funds to accelerate research and development and to expand into new markets. RET Ventures framed the investment around rising demand for constant connectivity in the multifamily industry amid remote work and the 'hotelification' of resident expectations.

Participated · Series B · Jun 2019

SmartRent is a Scottsdale, Arizona–based provider of smart home automation for property owners, managers, developers and residents. Founded in 2017 and led by CEO and co‑founder Lucas Haldeman, the company offers connected, brand‑agnostic solutions designed to give multifamily property owners, managers and residents security and property protection. Its product suite includes the Alloy Fusion all‑in‑one touchscreen hub and thermostat, the newly launched Alloy Access for access control, and self‑guided tour capabilities. Customers such as Essex Property Trust, MAA and Aimco use SmartRent to connect, automate, protect and manage tens of thousands of housing units nationwide. The company closed a $60M Series C and intends to use the proceeds to expand its product portfolio. SmartRent provides a smart home automation platform aimed at property managers and renters. Its solution gives property managers seamless visibility and control over assets while offering residents all-in-one home control. The platform is also positioned to deliver additional revenue opportunities for property owners. The company plans to develop both software and hardware to turn multifamily housing environments into connected communities. To support that work, SmartRent will collaborate with teams across Amazon and Ring. SmartRent was founded in 2017 and is based in Scottsdale, AZ. SmartRent provides an end-to-end smart home automation platform that gives property managers visibility and control while delivering resident-facing home control and amenity features. Its solution includes smart locks, thermostats, light switches, and leak sensors managed through a single application. The company says deployments save operating costs per property and create new revenue opportunities as residents pay premiums for connected units. SmartRent reported more than 40,000 units installed and 66,000 additional units under agreement for 2019, a 145% year-over-year increase; UDR plans to implement SmartRent in 20,000 units by summer 2019. The firm also states multifamily organizations controlling over 1.4 million units are either piloting or actively deploying the platform. SmartRent intends to use new capital to add development resources, accelerate large-scale deployments, and develop additional capabilities to solidify its market leadership. SmartRent provides an end-to-end smart home technology solution that connects hardware with proprietary web and mobile software for property managers and renters. Its platform includes full property access control, surveillance, thermostat control, leak detection, and power monitoring to streamline operations and enable predictive maintenance. The company positions its solution as both an expense-reduction tool for owners and a revenue-generating amenity for residents. SmartRent has significant traction, expecting to complete 15,000 installations by year end and having an additional 35,000 apartments committed for 2019. Founded in 2017, the team has grown more than 50% since its January 2017 seed round. The company plans to use new funding to accelerate national deployments and expand its service footprint from 15 states to over 40 states, with hubs in Denver, Phoenix, Washington D.C., Seattle, Philadelphia and Northern and Southern California. SmartRent develops end-to-end smart community solutions that connect hardware with proprietary web and mobile software to streamline property operations and enhance resident experience. The platform provides property managers with seamless visibility and control of assets and offers ancillary revenue opportunities through all-in-one home control offerings for residents. Its system is designed to be flexible and easy to implement across property types and stages, including ground-up developments, retrofits, high-rises, and garden-style properties. The company emphasizes autonomous IoT tools and positions its product as a digital layer of asset protection for owners. SmartRent’s leadership brings deep operational property-management expertise to support deployment and adoption. The company was founded in 2017 and is described in the announcement as based in Phoenix, AZ.