Search
 

Sumeru Equity Invests $65M in Property Management Software Firm

BOSTON—The new funding from Forest City, CA-based Sumeru Equity Partners will be harnessed for further project innovation, the company says.

By John Jordan | johnjordan | | Updated on June 09, 2016
From left, Buildium co-founders Dimitris Georgakopoulos and Michael Monteiro. From left, Buildium co-founders Dimitris Georgakopoulos and Michael Monteiro.
BOSTON—Technology-focused private equity firm Sumeru Equity Partners has invested $65 million in Buildium, a Boston-based property management software platform. In conjunction with the financing, SEP managing directors Jason Babcoke and John Brennan have joined Buildium’s board of directors. Buildium’s software automates the property management lifecycle and also allows real estate professionals to win new business from property owners and community associations. The new funding from Forest City, CA-based Sumeru Equity Partners will be harnessed for further project innovation, the company says. The company, which began operations in 2004, services more than 12,500 customers in 46 countries, totaling nearly 1 million residential units under management. In 2015, Buildium acquired All Property Management, a leading online marketing service for property managers. “Since our inception, we have always been a customer-centric organization,” says Michael Monteiro, co-founder and CEO of Buildium. “We found SEP’s focus on product and go-to-market positioned them as an ideal partner for Buildium as we launch our next phase of growth. With their financial backing, we will increase investment to continue delivering a thoughtfully designed, complete, and easy-to-use property management platform that meets our customers’ needs with industry leading customer care.”  

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.