Here’s an exclusive look at the pitch deck the proptech platform Wreno used to raise a $5 million seed round


Wreno cofounders

  • Based in Arizona, Wreno connects iBuyers, REITs, and proptech companies with tradespeople.
  • Wreno raised $5 million in a seed round led by Lerer Hippeau with participation from Fifth Wall.
  • That’s a large seed round — but one investor said she was confident enough to write a larger check.

Wreno, a proptech platform that aims to aims to bridge the divide between tradespeople and institutional real-estate companies, raised $5 million in seed funding led by Lerer Hippeau with participation from Fifth Wall, Owl Ventures, and NFX, among others.

The company was founded last year by Charlotte Schell, a recent graduate of Stanford University’s Graduate School of Business, and Mark Barton, a former Zillow program manager. They’d met while Schell was completing an MBA internship at Zillow. (Barton, Wreno’s chief operating officer, isn’t related to Zillow’s CEO, Rich Barton.)

The two got the idea for Wreno when they were approached by a client who had just purchased 3,800 homes and quickly needed workers to evaluate, repair, and maintain them all but had only enough to take on three homes.

Wreno, based in Scottsdale, Arizona, recruits and trains workers, paying them $20 to $40 an hour, and connects them with iBuyers, real-estate investment trusts, and proptech companies like Opendoor and American Homes.

“I think for us as investors we were immediately interested by the market need here as well as Wreno’s holistic approach,” said Isabelle Phelps, a partner at Lerer Hippeau.

While $5 million is relatively large for a seed round, Phelps said she felt comfortable enough in Wreno’s business model to write a larger check. She said she also wanted to make sure the company was capitalized enough not to have to raise again anytime soon.

“We’re very much tracking how the financing landscape is shifting and so had a number of conversations with Charlotte around how they were thinking about those goals and making sure that they were well financed to hit them,” Phelps said.

Schell, Wreno’s CEO, said Wreno saw enough traction from a $1 million seed round last December, expanding to nine markets, that she was confident the company could scale up quickly. Wreno has raised a total of $6.1 million to date.

“We had a couple really large pilots that were in the pipeline that we were executing fairly well with a few very large customers, and they couldn’t wait for us to go into more markets with them,” Schell said. “We know that we can do well, and capital can really propel that forward.”

Here’s an exclusive look at Wreno’s seed-round pitch deck:



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