Entera

Entera provides a software and services platform for single-family residential (SFR) real estate investing, positioning itself as an operating system covering the full residential investment lifecycle. The platform combines proprietary residential data, market signals and pricing models with AI-powered underwriting and decisioning, workflow orchestration for approvals, offers, listings, diligence and transaction management, and transaction infrastructure including brokerage, title coordination, compliance and closing support. It also coordinates third-party service partners such as brokers, inspectors, renovation partners and field teams so that transactions run through a single workflow.

The product is organized around two main motions: acquisition, spanning investment strategy, asset discovery, AI-powered underwriting, diligence, partner coordination and closing; and disposition, spanning asset evaluation, AI-assisted pricing, buyer targeting, offer management, partner coordination and closing. In earlier press coverage, the platform was described as aggregating listing and off-market property data, scoring properties against an investor's stated strategy, and surfacing listing price, comparable prices and rents, estimated repair costs, a recommended initial offer and capitalization rate, with the ability to place an offer in one click or dispatch an Entera evaluator to inspect the property.

Founding story

Co-founders Martin Kay and Robert Salmons met at a children's birthday party in 2009. Kay, who had worked on data mining and analytics in the energy and infrastructure sectors, was drawn to Salmons' description of real estate as a complex, chaotic system; Salmons, a former builder from a family of real estate professionals, saw an opportunity to use data to reduce uncertainty. Within months they built a model to predict which local properties would deliver high returns and appeal to environmentally-minded renters, and, backed by wealthy individual investors, formed Greenlet to buy and operate properties. Kay tested the model bidding on foreclosed homes at the Harris County Courthouse with a million dollars of cashier's checks; acquired properties leased at expected rents with repair costs near forecast, and the pair scaled the investment to $100 million. Recognizing that providing services was easier than raising acquisition funds, they founded Entera in 2017 and sold off most of the Greenlet portfolio.

Business model

Entera sells platform access and associated real-estate execution services to professional residential investors, combining software with offline services such as brokerage, property evaluation, transaction coordination and service-partner orchestration. Earlier descriptions characterized it as a three-sided marketplace connecting enterprise and mid-market investors, sellers and service providers in the single-family residential market.

Traction

The company reports coverage of 34 residential markets, more than 14 million homes underwritten, over 500,000 homes across client portfolios, and support for billions of dollars in residential transaction activity since inception. Earlier material cited more than 15,000 single-family homes transacted, valued at $5 billion, across 29 US markets, and 2019 press coverage reported that Entera's software helped investors buy several thousand homes a year, including hundreds in Houston.

Latest developments

The company reports having raised approximately $60 million from financial and technology investors to build execution infrastructure for single-family residential real estate, operations across 34 markets, and active hiring across offices in Houston and New York.