Lehi-based Entrata secures a $200 million investment from Blackstone at a $4.3 billion valuation, accelerating its mission to modernize rental housing technology and expand its global property management footprint.
Lehi-based property management software company Entrata has announced a $200 million minority investment from funds managed by Blackstone (New York) valuing the company at $4.3 billion. This strategic partnership aims to accelerate Entrata's growth and expand its technological offerings in the rental housing industry.
"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," said Adam Edmunds, CEO of Entrata. "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."
Brian Dunlap, a Managing Director at Blackstone, added, "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."
Founded in 2003, Entrata has developed a comprehensive operating system for rental housing, serving over 12 million residents across more than 35,000 multifamily communities worldwide. The platform offers centralized solutions for accounting, purchasing, facilities, leasing, and more, aiming to streamline operations for property managers and enhance the living experience for residents.
This latest funding round follows a significant $507 million investment in 2021 led by Silver Lake, marking one of the largest private investments in Utah's history. Since then, Entrata has continued to innovate and build out its suite of solutions for various aspects of property management, including accounting, purchasing, facilities, and leasing, among others. It has introduced products such as ELI+, a fully integrated platform that modernizes leasing, payments and renewals, and Homebody, a novel solution to cultivate resident engagement, retention and, with the addition of Homebody Rewards, loyalty.
With the backing of Blackstone and Silver Lake, Entrata is well-positioned to further its mission of transforming the rental housing industry through technology.
For more information, visit www.entrata.com.
