Entrata Secures $200M Investment from Blackstone, Elevating Valuation to $4.3 Billion
Entrata, a leading property management software platform, has announced a $200 million minority investment from global investment firm Blackstone. This strategic infusion elevates Entrata’s valuation to $4.3 billion, underscoring its prominence in the proptech sector.
Company Overview
- Founded: 2003
- Headquarters: Lehi, Utah, USA
- CEO: Adam Edmunds (since 2020)
- Employees: Approximately 2,269
- Annual Revenue: Estimated at $750 million
- Clients: Serving over 20,000 apartment communities across the U.S.
- Website: entrata.com
Product and Service Offerings
Entrata offers a comprehensive, single-login platform tailored for property management, encompassing:
- Property Operations Suite: Streamlines workflows, automates tasks, and enhances operational efficiency.
- AI & Automation Suite: Utilizes Entrata Layered Intelligence (ELI) for tasks like responding to reviews, generating emails, and automating leasing processes.
- Resident Experience Suite: Features ResidentPortal for 24/7 rent payments, maintenance requests, and community engagement.
- Analytics Suite: Provides AI-backed data analytics for informed decision-making and increased Net Operating Income (NOI).
- Homebody RXP: A resident-focused app offering services like renters insurance, rent reporting, and flexible payment options.
Strategic Investment and Growth
The $200 million investment from Blackstone is poised to accelerate Entrata’s growth trajectory, enabling:
- Product Innovation: Enhancing existing offerings and developing new solutions to meet evolving market demands.
- Global Expansion: Exploring opportunities beyond the U.S. market to serve a broader clientele.
- Talent Acquisition: Attracting top talent to drive innovation and maintain competitive advantage.
This funding round follows a significant $507 million investment in July 2021, led by Silver Lake, marking the largest private equity round in Utah’s history at the time.
Leadership Profile: Adam Edmunds
Adam Edmunds, who assumed the role of CEO in 2020, brings a wealth of experience in scaling technology companies. Prior to Entrata, he served as President of Podium, where he oversaw growth from $1 million to over $100 million in Annual Recurring Revenue (ARR) within four years. Edmunds also founded Allegiance, which was acquired by MaritzCX in 2014.
Funding History and Investors
- Total Funding Raised: Approximately $708 million
- Notable Investors:
- Blackstone
- Silver Lake
- Dragoneer Investment Group
- Ryan Smith (Qualtrics co-founder)
- Todd Pedersen (Vivint founder)
- HGGC
- Charles Thayne Capital
- National Institute for Entrepreneurship
Market Position and Impact
Entrata stands out in the proptech landscape due to its:
- Comprehensive Platform: Offering end-to-end solutions for property management.
- AI Integration: Leveraging artificial intelligence to automate and enhance operations.
- Scalability: Serving a diverse clientele, from multifamily to student and military housing.
- Customer Satisfaction: Achieving an 86% user satisfaction rating based on 263 reviews.
Frequently Asked Questions (FAQs)
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