RET Ventures Launches First AI-Native Accelerator for Multifamily

Venture capital firm RET Ventures announced Tuesday that it has created an accelerator for artificial intelligence-native, early-stage proptech startups in the multifamily sector.

The RET Ventures AI Accelerator’s first two program participants are Brightplace and LeasingAI, with four additional AI-focused leasing and marketing startups expected to join the first cohort on a rolling basis.

Manhattan-based Brightplace is an AI apartment search platform, while LeasingAI uses the technology to make apartments more visible across generative search engines (known as GEO, for generative engine optimization) such as ChatGPT and Gemini, which are supplanting legacy search engine optimization platforms.

“On one thread, this is just about the rapid proliferation of new startups,” said Christopher Yip, partner at Park City, Utah-based RET Ventures. “The second important theme here within the real estate and multifamily space is that what we want to focus on in the accelerator is the top of the funnel — the marketing and leasing for the resident at the beginning of the residential journey.”

Initial technology advances in tenant prospect and resident engagement included multiple channel chatbots such as SMS, email and voice communications. Over the last year, however, RET increasingly saw an evolution in consumer contact.

“Our accelerator will be targeting companies that are just getting off the ground, meaning pre-seed stage typically,” said Yip. “We are offering a small accelerator-type pre-seed investment, which is pretty typical for these accelerator programs. And we see a tremendous opportunity for us to bring our RET network — all of the 50-plus strategic investors, 3 million units of multifamily and rental — and really get that ecosystem to work together.”

The initial startups in the RET accelerator expressed a common vision for using their AI-native platforms to engage with the next generation of GEO for renters and apartment owners.

“Search is increasingly being replaced by AI-mediated discovery, and the multifamily industry has a real opportunity to get ahead of that shift,” Brian Lichtenberger, founder of Brightplace, said as part of the accelerator announcement. “RET’s network puts us in direct partnership with the industry leaders who will shape how that transition unfolds.”

Gal Bahir, founder and CEO of LeasingAI, said in a statement that that firm was excited to partner with RET Ventures on the search shift to platforms like ChatGPT and Gemini.

Accompanying the launch of its AI accelerator program, RET Ventures announced that it will be hosting an AI startup showcase at the Apartment Innovation and Marketing (AIM) Conference in Huntington Beach, Calif., on May 5. The showcase will feature early-stage companies, with a particular focus on the leasing and marketing space.

Philip Russo can be reached at prusso@commercialobserver.com.