Awning Emerges From Stealth With $9.3 Million

<p><strong>SAN FRANCISCO<&sol;strong> &&num;8212&semi; Awning&comma; a technology platform and brokerage built exclusively for real estate investing&comma; has emerged from stealth with &dollar;9&period;3 million in funding led by Global Founders Capital&period; The round also includes participation from MassMutual Ventures and several strategic angel investors including Side co-founders Guy Gal and Ed Wu&comma; SafeGraph founder Auren Hoffman&comma; Scale founder Lucy Guo&comma; Opendoor’s Former VP of Analytics Peter Fishman&comma; Lightspeed Ventures Partner Justin Overdorff&comma; and other Silicon Valley executives&period;<&sol;p>&NewLine;<p>With owners of single-family rental homes seeing 12-20&percnt; annualized returns over the last 20 years&comma; the opportunity to buy a home as an investment and rent it can rival more traditional financial instruments and provide recurring cash flow&period;  But most local real estate agents do not specialize in investment properties and they lack the tools to find the right opportunities and access critical financial data like OpEx &amp&semi; Cap Rates&period;<&sol;p>&NewLine;<p>Awning uses machine learning and data analytics to surface the best single-family rental properties for investors in popular markets across the country&comma; with estimated monthly rental income and long-term ROI&period; Each Awning customer is paired with one of Awning’s full-time agents who acts as an advisor to determine their investment strategy&comma; review properties that meet their requirements&comma; and close deals quickly and confidently&period; Awning can also help investors secure financing and connect buyers with vetted property managers to oversee their properties and manage rentals and day-to-day maintenance&period;<&sol;p>&NewLine;<p>&OpenCurlyDoubleQuote;Investing in single-family rental properties has become one of the best ways for individuals to control their financial future&comma; but there are few resources designed to help individual investors&comma; ” said Shri Ganeshram&comma; CEO and co-founder of Awning&period; &OpenCurlyDoubleQuote;Especially as individual rental real estate markets become more competitive&comma; first-time investors need more help getting started&period; Our analytics and advisory services provide detailed information about rental income&comma; taxes&comma; expected repairs&comma; cap rates&comma; and more&period; Our goal is to give novice and experienced investors alike the opportunity to build long-term financial security by investing in single-family rental properties&period;”<&sol;p>&NewLine;<p>Since opening in beta at the end of May this year&comma; Awning has helped individuals living across the country purchase nearly &dollar;5 million in real estate&period; The Awning web portal is open to investors from across the United States and Canada and currently connects buyers with listings in California and Texas&comma; with Florida coming soon&period; Awning will continue to add inventory in new markets in the coming months&period;<&sol;p>&NewLine;