100 Acquires Cobblestone Labs for Enhanced Rental Screening

In a strategic move to combat escalating rental fraud, proptech innovator 100 has acquired Cobblestone Labs, a specialist in fraud detection and income verification. This integration injects Cobblestone Labs' sophisticated, AI-driven underwriting capabilities directly into 100's rental screening platform, aiming to significantly enhance the accuracy and efficiency of tenant assessments.

The acquisition brings together two companies founded in 2023, both leveraging cutting-edge technology to address critical pain points in the residential real estate sector. Cobblestone Labs, established by former engineers from the fintech firm Ramp Business Corp., developed a platform designed to identify identity fraud, income misrepresentation, and synthetic identities. Its technology, honed within the demanding financial services industry, is now poised to revolutionize property technology underwriting.

This consolidation arrives at a crucial juncture for the rental market. Recent data indicates a sharp rise in fraudulent activities, with the FBI reporting substantial financial losses attributed to real estate fraud in 2025. Projections from consulting firms like Deloitte suggest that AI-driven fraud could cost the industry upwards of $40 billion by 2027. A significant majority of multifamily housing operators have reported experiencing fraud, often only detecting it after a tenant has occupied the property, highlighting the urgent need for advanced preventative measures.

100's integration of Cobblestone Labs' AI underwriting engine, described as being modeled on advanced financial systems, is expected to create a robust defense against these threats. The combined platform will utilize a multi-source data architecture, cross-referencing insights from multiple large language models, and incorporating human review for comprehensive validation. This layered approach promises to deliver more reliable tenant screening outcomes.

The strategic importance of this deal is underscored by 100's recent designation as a preferred partner by several major operators on the National Multifamily Housing Council's Top 50 list, including Asset Living, Knightvest Residential, and RAM Partners. These endorsements signal strong market confidence in 100's ability to streamline application processes and reduce bad debt, with reported customer benefits including a 67% increase in application velocity and a 35% reduction in tenant delinquency.

100, formerly known as Hi Cavalry Inc., has demonstrated significant early traction since its inception. The company secured $5.2 million in pre-seed funding in October 2024, a record for a proptech pre-seed round at the time, and has maintained impressive month-over-month revenue growth exceeding 25%. The acquisition of Cobblestone Labs, whose co-founders Jason Scharff and Jack Mastrangelo will join 100 as strategic advisors, further solidifies its position as a leader in innovative rental screening solutions.