SAN FRANCISCO, Sept. 16, 2026 (GLOBE NEWSWIRE) — Mainstay, the intelligent system of record for residential real estate, today announced it raised more than $18 million in growth capital and acquired Truelist, an AI-powered listing platform for brokers and agents.
The financing includes new investors Parker89, Stackpoint, Alpaca VC, and FJ Labs, alongside existing investors Khosla Ventures, Era Ventures, and Clocktower Technology Ventures. Mainstay will use the capital to accelerate its 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. It combines each customer’s data with Mainstay’s proprietary data and thousands of external sources into a single, continuously updated record for every property. Mainstay’s agentic platform turns those decisions into outcomes across workflows including transaction execution, property taxes, HOA, payments, and many others. Every action executed generates proprietary outcome data that improves the next decision. This autonomous approach allows the same platform to effectively serve multiple players within the residential real estate ecosystem, including an owner of ten homes and an institution with tens of thousands of homes managed. The addition of Truelist’s capabilities extends that platform to brokerages and agents.
Mainstay has facilitated more than $12 billion in real estate transactions and executed over 2 million agentic workflows across more than 50,000 external portals. It serves 95% of the 60 largest residential real estate investors.
“Residential real estate is still run across an enormous number of disconnected systems, datasets, and manual workflows,” said Dod Fraser, CEO and Co-Founder of Mainstay. “We have spent years building the technology to seamlessly connect data, decisions, and execution for the largest residential investors. This capital and the acquisition of Truelist allow us to bring that same infrastructure to a much broader market of brokerages, agents, and investors.”
Mainstay was carved out of Opendoor as an independent company in August 2024 after its founding team spent over a decade building and operating residential real estate technology and infrastructure at scale. Fraser, the former President of Opendoor, leads the company alongside President J.D. Rasmussen and COO Michael Dulfer, both longtime Opendoor executives. Truelist founder and CEO Carey Armstrong is joining Mainstay as Chief Strategy Officer. Armstrong previously served as Vice President of Premier Agent at Zillow and co-founded and served as COO of Tomo.
“Mainstay and Truelist are both unusual in that their teams have actually built and operated these systems at scale inside the industry’s largest and most innovative residential platforms,” said Clelia Peters, Managing Partner of Era Ventures and a Mainstay board member. “The combination of deep residential real estate experience, a well of proprietary data, and an innovation and AI first approach is unique in the industry, and creates an opportunity to build something foundational.”
Truelist helps brokers and agents create, manage, and distribute listings faster, more consistently, and with more control. Combined with Mainstay’s data, pricing intelligence, and automation infrastructure, Truelist adds a critical listing data and workflow layer to Mainstay’s broader residential real estate platform, improving data quality, reducing manual work across fragmented MLS systems, and bringing AI-powered pricing and execution capabilities to brokerages and agents at any scale.
“Mainstay and Truelist have been attacking the same broken system from different angles – Mainstay on behalf of investors, Truelist on behalf of brokers and agents,” said Carey Armstrong, incoming Chief Strategy Officer at Mainstay and Founder/CEO of Truelist. “Joining forces means we stop duplicating effort and start compounding it. I have enormous respect for what Dod and the team have built, and I’m excited about what we can do together.”
About Mainstay
Mainstay is the intelligent system of record for residential real estate, connecting data, decisions, and execution across the home lifecycle. Trusted by the largest residential operators, Mainstay combines proprietary data, pricing intelligence, and agentic automation to replace fragmented systems and manual workflows across buying, owning, and selling homes. Mainstay has facilitated more than $12 billion in residential real estate transactions and executed more than 2 million agentic workflows. Learn more at mainstay.io.
Contact: Jesse Kent Derring-Do Inc. jesse@derringdo.com
