Mainstay Raises $18 Million and Acquires Truelist on September 16 to Expand AI Infrastructure Across Residential Real Estate Brokerages and Agents

Mainstay, the intelligent system of record for residential real estate, announced on September 16 that it raised more than $18 million in growth capital and acquired Truelist, an AI-powered listing platform for brokers and agents, according to a Globe Newswire release. The funding round was led by Khosla Ventures with participation from Inspired Capital and Clocktower Technology Ventures. Mainstay will use the capital to accelerate expansion into brokerage and smaller investor customers, bringing the data, pricing, and automation powering the industry's largest residential companies to customers of any size. Mainstay is an intelligent system of record connecting data, decisions, and execution across the residential asset lifecycle, combining customer data with proprietary data and thousands of external sources into a single, continuously updated record for every property. The platform has facilitated more than $12 billion in real estate transactions and executed over 2 million agentic workflows across more than 50,000 external portals, serving 95 percent of the 60 largest residential real estate investors. The acquisition of Truelist extends Mainstay's agentic platform to brokerages and agents, complementing its existing institutional investor customer base. CEO and Co-Founder Dod Fraser said residential real estate is still run across an enormous number of disconnected systems, datasets, and manual workflows, and the capital and Truelist acquisition allow the company to make its technology accessible to customers of any size.