SmartRent Co-Founder Tapped as CEO of 1Valet
A co-founder of property technology company SmartRent has been appointed as the new CEO of 1Valet, a smart building operating system provider. The leadership change is intended to position 1Valet for scaling its unified platform across North America. The move signifies ongoing consolidation and talent migration within the proptech sector.
- The new CEO, Demetrios Barnes, was a co-founder and served as Chief Operating Officer of SmartRent. At SmartRent, he played a key role in scaling the business and guiding its transition to a publicly traded company. - This leadership change follows the March 2024 appointment of Sophie Boulanger as CEO of 1Valet, who succeeded founder Jean-Pierre Poulin. With Barnes's appointment, Poulin will move from his day-to-day operational role to Executive Chairman, where he will focus on board leadership and strategic guidance. - Barnes has a history in property management technology, having been the Vice President of Technology Operations for Colony Starwood Homes and the Director of Property Management and Technology for Beazer Pre-Owned Rental Homes. - The move is indicative of a broader trend of consolidation within the proptech sector, as companies are increasingly being acquired to create more comprehensive platforms. This trend is driven by a desire for larger companies to absorb smaller, innovative players and for private equity firms to increase their market share. - 1Valet, founded in 2016, provides a smart building operating system that integrates various in-building systems into a single platform for property managers and residents. In November 2024, the company announced a $5 million financing round at a valuation of nearly $200 million.
