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Venn buys AI leasing firm Zuma for $50M
Venn said its contracted revenue has more than quadrupled over the past year, and it expects to pass 1 million units under management by year end.
Venn, a multifamily operating platform, acquired Zuma, an AI leasing company, for $50 million, Commercial Observer reported. The deal brings a leasing business that uses agentic artificial intelligence into Venn’s platform.
Venn is described as a bespoke AI company that connects residents and buildings on a sole system, and its CEO said the company will not commercialize or share customer data. The company also said it serves more than 270 multifamily owners and operators across five countries and 30 U.S. states, including Bozzuto, Related Companies, Kairoi Residential, and Grand City Properties.
Commercial Observer said Venn expects to pass 1 million units under management by year end. The outlet also reported that Venn’s contracted revenue has more than quadrupled over the past year.
Commercial Observer added that Venn has raised more than $140 million, including a $52 million Series B co-led by NOA and Group 11. Zuma, founded in 2021 and based in Santa Monica, California, is backed by Andreessen Horowitz and Y Combinator, and is used by operators for leasing, renewals, and collections.