Rely is a proptech startup building AI-native infrastructure for multifamily real estate transaction diligence. Founded in January 2025 in Portland, Maine by former proptech leaders George Matelich and David LoBosco, Rely tackles one of the most painful, time-consuming steps in commercial real estate: the diligence process where buyers, sellers, lenders and operators must comb through sprawling data rooms of leases, rent rolls and financial statements to verify a deal.
The core capability is an AI-native classification and analysis engine that can ingest an entire data room and transform unstructured documents into structured, source-linked data in minutes. Lease audits that traditionally consumed weeks of analyst time are compressed into hours, with every extracted data point traceable back to its source document. This matters enormously in multifamily deals, where a single transaction may involve hundreds of leases that each need to be checked against the rent roll for accuracy before financing and closing.
Rely's ambition extends beyond a single workflow. The company envisions becoming the system of record for real estate transactions, a shared, structured and reliable data layer where buyers, sellers, lenders and servicers all work from the same source of truth. That positioning addresses a structural inefficiency in CRE, where each party currently rebuilds the same data from scratch, introducing errors, delays and disputes.
Rely raised a $4.5 million seed round in May 2026, led by 2048 Ventures with participation from Range Ventures and Better Tomorrow Ventures. The capital is earmarked for growing its engineering team with hires in New York and New England and deepening relationships with lenders and servicers. Operating at the intersection of AI document reasoning and the under-digitized multifamily transaction market, Rely sits in a genuinely under-covered niche with a clear, high-value wedge.