VERO

VERO operates a leasing management platform that simplifies and streamline the leasing process for property managers and renters, particularly within the multifamily housing segment. The platform enables property managers to automate workflows, starting from the initial tenant screening to signing leases and retaining tenants. The platform also allows property managers to use machine learning tools to generate real-time insights on current and prospective renters. From the renters’ point of view, the platform permits individuals to submit lease applications, track application progress, and sign leases. The company claims that its platform enables users to apply and sign a lease agreement within 17 minutes, compared to the industry average of seven days. As of June 2021, property management firms served by the company included LeFrak, Stonehenge, Alfred, and First Service Residential.

Key customers and partnership

In September 2023, VERO partnered with RealPage , a rental property management platform, to integrate its platform with RealPage and other leading property management platforms to streamline leasing processes, eliminate manual tasks, prevent bad debt, and enhance transparency in order to grow its platform’s reach.

Funding and financials

In April 2023, VERO raised USD 9 million in Series B funding led by Fifth Wall. The capital proceeds will be directed towards improving its platform’s technology.

As of June 2021, the company claimed that the number of transactions handled by its platform had grown by 500% year-over-year, while revenue grew by 130% quarter-over-quarter.