Why We Started Muvan

Multifamily is the largest asset class in the world - yet the way it’s operated still looks more like the early 2000s than the age of AI.

After more than 20 years of combined experience building and scaling products using AI, machine learning, and NLP, we kept asking ourselves a simple question:
If AI can transform sales, finance, and customer support - why hasn’t it transformed real estate financial operations?

That question is what led to Muvan.

What We Saw in the Market

Before writing a single line of code, we spent months talking to the people running real estate portfolios day to day. We interviewed hundreds of asset managers, regional managers, and C-level executives across the multifamily industry.

What we heard was worrying.

Many of the people responsible for driving portfolio performance weren’t actually doing the jobs they were hired to do.

Instead:

• Asset managers were spending more time building and updating weekly reports than analyzing them

• Teams were buried in repetitive, manual tasks, rather than improving NOI or beating pro formas

• Decision-makers lacked clear, actionable context across their portfolios

• “Dashboards” existed, but they were static, fragmented, and disconnected from execution

This didn’t make sense.
When the stakes are this high - billions of dollars in assets, thin margins, and constant operational complexity - the industry should be using the most advanced technology available.

But it wasn’t.

A Pattern We’d Seen Before

This gap felt familiar.

Across nearly every major SaaS market, we’ve seen the same evolution play out over time:

1. Systems of Record - where raw operational data is stored

2. Systems of Intelligence - where that data is analyzed and turned into insights

3. Systems of Action - where software owns and executes workflows end-to-end

Historically, this transition took decades and happened incrementally. But large language models have changed the equation entirely.

For the first time, software can:

• Understand unstructured, domain-specific context

• Maintain state across complex workflows

• Act, not just analyze

We’ve already seen this shift succeed in other industries:

• In SalesTech, CRMs like Salesforce enabled intelligence layers like Gong - and now platforms like Clay and Outreach are operationalizing execution itself.

• In Customer Support, Zendesk laid the foundation, but AI-native companies like Sierra and Decagon are now resolving tickets autonomously.

• In Finance, ERP systems enabled analytics - and AI platforms are now automating approvals and financial orchestration.

Then we looked back at real estate.

Why Multifamily Was Left Behind

Multifamily does have systems of record.

Yardi, founded in the 1980s, became the first true system of record for the industry. It was followed by RealPage, AppFolio, Entrata, and others — all focused primarily on property management.

But something critical never happened.

These platforms:

• Never became true systems of intelligence, forcing teams to rely on spreadsheets, BI tools, and manual reporting

• Never evolved into systems of action, lacking the automation and decision ownership needed to execute workflows end to end

As a result, two stopgaps filled the void:

• Labor-based service providers handling accounting, utilities analysis, and bookkeeping manually

• Horizontal SaaS tools like QuickBooks, Power BI, Salesforce, and Monday.com, adopted by default rather than by design

This fragmentation is expensive, slow, and fundamentally unscalable.

But it also revealed something important.

Why Now

Large language models make it possible - for the first time - to build an AI-native System of Action for real estate.

The messy, unstructured workflows that forced teams to rely on spreadsheets and third parties can now be:

• Understood in context

• Automated end to end

• Continuously improved through learning

The technology finally caught up to the problem.

Why We Built Muvan

We didn’t start by trying to replace property management systems.

Instead, we started with a wedge: asset management reporting - the workflow that sits at the intersection of finance and operations.

That choice was deliberate.

By owning the asset management reporting layer, we gained access to the full financial and operational context across a portfolio. That context allows us not just to automate workflows, but to deliver action-driven insights that third-party service firms can’t replicate - because they operate outside day-to-day execution and lack visibility into what actually drives strategic KPIs.

What Comes Next

Multifamily is the last major market without an AI-native System of Action.

The data exists.
The spend exists.
The workflows exist.

Now, the technology does too.

We started Muvan because we believe real estate deserves the same operational leap forward that other industries are already experiencing - and because the people running these portfolios deserve tools that help them act, not just report.

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