Total amount raised
$507 Millions
Latest funding date
07/01/2021
Location
Entrata has successfully raised funds through a Private Equity round, with notable investors such as Element Ventures and Jaws Ventures. The company continues to expand its offerings in the property management software industry.
Keep reading to explore the intricacies of Entrata's fundraising journey and the investors backing this innovative platform.
What Is Entrata?
Entrata, founded in 2003 by Dave Bateman and Johnny Hanna, is headquartered in Lehi, Utah. The company operates in the property management software industry, providing a comprehensive platform that includes tools for leasing, mobile payments, online portals, and more.
With a workforce of 1001-5000 employees, Entrata serves over 20,000 apartment communities nationwide. Their platform offers a single-login, open-access system that integrates various third-party technologies, allowing property managers to choose the best-fit solutions for their needs.
How Much Funding Has Entrata Raised?
- Funding Round: Private Equity
- Amount Raised: $507 million
- Date: July 7, 2021
- Lead Investors: Silver Lake, Ryan Smith, Todd Pedersen
- Valuation at Round: More than $1 billion
- Motivation Behind the Round: To double research and development spending, adopt an aggressive go-to-market strategy, expand internationally, and invest in personnel to improve client experience.
Total Amount Raised: $507 million. Current Valuation: More than $1 billion.
Key Investors
- Silver Lake
- Details: Silver Lake is a global private equity firm known for its investments in technology and technology-enabled industries. The firm manages over $75 billion in combined assets.
- Investment Focus Areas: Technology, growth investments, technology-enabled industries
- Notable Investments: Dell Technologies, Airbnb, Twitter
- Ryan Smith
- Details: Ryan Smith is the founder of Qualtrics, a leading experience management company. He is also known for his investments in various technology startups.
- Investment Focus Areas: Experience management, technology, high growth potential companies
- Notable Investments: Qualtrics, various tech startups
- Todd Pedersen
- Details: Todd Pedersen is the founder of Vivint Smart Home, a company providing smart home products and services. He is a prominent figure in the smart home technology sector.
- Investment Focus Areas: Smart home technology, innovation, related sectors
- Notable Investments: Vivint Smart Home, related smart home technologies
- Dragoneer
- Details: Dragoneer is an investment firm focused on long-term investments in growth-oriented businesses. The firm is known for its strategic investments in technology companies.
- Investment Focus Areas: Technology, growth-stage companies, long-term investments
- Notable Investments: Airbnb, Slack, Uber
- Josh James
- Details: Josh James is the founder and CEO of Domo, a business intelligence and data visualization company. He is a key player in the business intelligence sector.
- Investment Focus Areas: Business intelligence, data visualization, technology startups
- Notable Investments: Domo, other tech ventures
What's Next for Entrata?
Entrata stands on the brink of significant opportunities, driven by its recent $507 million funding round. The company plans to double its research and development spending, expand internationally, and adopt an aggressive go-to-market strategy. With over $20 billion in rent payments processed annually and a presence in more than 20,000 apartment communities, the potential for growth is immense.
Future fundraising opportunities are likely, given the substantial backing from investors and the ambitious expansion plans. Entrata's strategic vision includes potential acquisitions to enhance its technology offerings and market presence, positioning it for continued success in the evolving property management software industry.
However, challenges such as managing rapid growth, integrating new personnel, and maintaining a high level of client satisfaction could pose hurdles. Competition from other property management software providers and the complexities of international expansion will require careful navigation to sustain momentum and achieve long-term goals.
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