Entrata, an operating system for multifamily communities, announced a $200 million minority investment from funds managed by Blackstone at a $4.3 billion valuation. This funding round comes as the company moves forward on its next chapter of growth, serving the rental housing industry through innovative technology that streamlines operations for property managers and elevates the living experience for millions of residents.
In the past two decades, Entrata has emerged as a leader in property management technology, building a comprehensive operating system in rental housing. And Entrata’s suite of solutions offers a centralized platform for managing various aspects of a property, including accounting, purchasing, facilities, and leasing. These offerings can efficiently handle tasks such as tracking work orders, managing finances, and processing online payments.
Plus, Entrata’s resident portal fosters better communication and self-service options for residents, helping support increased satisfaction and loyalty. And Entrata’s recent innovations include ELI+, a fully integrated platform that modernizes leasing, payments and renewals, and Homebody, a first-of-its-kind solution to cultivate resident engagement, retention and, with the addition of Homebody Rewards, loyalty.
Advisors: Wilson Sonsini Goodrich & Rosati served as legal advisor to Entrata.
KEY QUOTES:
“Over twelve million residents in properties across the largest property management portfolios in the world utilize the Entrata operating system. This investment from Blackstone represents a powerful alignment of capital and expertise that will allow us to bring world-class technology to an expanded footprint of owners, operators and residents. We appreciate Blackstone’s partnership as we drive towards new levels of efficiency and expand the level of experience residents can expect across the rental housing ecosystem.”
Adam Edmunds, CEO of Entrata
“We are pleased to invest in Entrata as they continue to expand their technology solutions for the property management industry. We are excited about the opportunity to partner with Adam and his talented team as they drive continued innovation to help further improve the client and resident experience.”
Brian Dunlap, a Managing Director at Blackstone
