Tech founder and provocateur Travis Kalanick made millions betting on key parts of the young adult lifestyle with Uber (transportation) and dining (ghost kitchen startup CloudKitchens). Can he hit a trifecta with a bet on tech-focused, community-driven apartments?
Kalanick has partnered with Oliver Ripley, founder of the luxury hospitality company Habitas, to launch Sekra, a bid to tackle the massive multifamily housing market with a firm that will focus on building and managing upscale rental apartments. It’s a market that’s sure to grow: Ripley estimates 80% of people younger than 40 globally rent, and that’s only going to increase as stubborn housing affordability impacts remain a key issue. In the U.S., the number of rental households has grown steadily, hitting more than 46 million last year, according to the Census Bureau, with strong growth in the percentage of Gen Z members renting.
The idea is to apply layers of technology and hospitality to create a more profitable brand of rental housing; while Sekra’s tool and tech stack are still under development, other apartment companies have saved money by automating repairs, streamlining operations, cutting energy bills, and making the touring and leasing experience faster, reducing vacancies.
“There’s a real opportunity to do something different in the multifamily space, to build a global brand that sits at the cross section of community, culture, and longevity and wellness,” Ripley says.
Ripley describes Sekra as taking both a hardware and software approach. The hardware portion includes building a proprietary tech platform for operations and iterating with residents (other tech in the market such as Elise.AI has seen significant growth in recent years). The in-development resident app will incorporate programming, content, and in-unit internet of things functionality—such as the ability to control appliances or lighting—that will “give residents an integrated experience that will command above-market rents.”
It also includes building a space that encourages socialization and better sleep, including consulting with sleep experts, installing noise insulation and blackout shades, and using circadian rhythm lighting.
The software part means hiring ambassadors for the properties and curating the community and its residents. Ripley says the onboarding for new residents will be done by the Sekra team, the residents themselves, and through the resident app.
