SCU Alumni Company Secures $4 Million
Rental and property management company OneRent, co-founded by business school alumni, Rico Mok, Chuck Hattemer, Greg Toschi, and Arman Dezfuli-Arjomandi closed $4 million in series A funding from Renren, Inc. a Chinese company focused on revolutionizing the way people connect online. This is OneRent’s second round of funding in 2016, following $1.5 million in seed funding secured in January.
“The rental market is ripe for change, and OneRent is the modern-day platform facilitating the most efficient way for properties to be maximized as an investment,” said Matt Murphy, global vice president of Renren, Inc. “OneRent is perfectly positioned to make the lasting impact necessary to sustain the growing rental demands. It merges technology with responsive, personable service, and in turn, rents out properties at record speed with high quality tenants, providing a unique service for half of the traditional costs.”
Founded in 2014, OneRent is a San Jose-based end-to-end rental and property management service. They manage more than $500 million worth of properties for nearly 500 real estate and property owners in San Francisco and Seattle. The investment will fund plans to expand services to six new locations including Boston, LA, Portland, Sacramento, San Diego, and Washington DC, as well as support talent acquisition for that expansion.
“Part of OneRent’s vision is to unify a transparent, automated process with the responsiveness and concern of human interaction,” said Chuck Hattemer, OneRent co-founder and CMO. “Our investment in a talented team is key to aligning a personal, reliable experience for both the landlord and renter in every step of the rental process.”
Co-founders of OneRent have been extensively involved with the Center for Innovation and Entrepreneurship in the Leavey School of Business. Rico Mok ’15 (COO) received CIE’s Outstanding Student Entrepreneur award last year, and Chuck Hattemer won the Business Plan Pitch Competition for the B2C sector as part of CIE’s California Program for Entrepreneurship. OneRent has also participated in SCU’s annual Startup Expo, presented at Family Weekend on campus, and advised student entrepreneurs at CIE’s office hours.