Updater Secures $215 Million Investment from Vista Credit Partners
I started Updater in 2010 with the vision of modernizing the process of moving homes, turning a painful process into an enjoyable and frictionless online experience, and introducing a level of trust, transparency, and convenience that previously seemed impossible.
Since then, Updater has facilitated nearly 15 million household moves, saving tens of millions of hours.
With the recent transition to work-from-anywhere, our mission is more important than ever. We are more committed than ever to building technology that creates powerful efficiencies for every stakeholder in the moving ecosystem.
I am proud to share that Updater has secured a $215 million investment from Vista Credit Partners (“VCP”), a subsidiary of Vista Equity Partners (“Vista”) and strategic credit and financing partner focused on the enterprise software, data, and technology markets.
We’re thrilled to partner with VCP for this investment round, which will propel Updater to new heights as the clear industry-leading platform in moving technology, the category we created in 2010. This capital provides us the resources we need to fund some of our most ambitious initiatives, expand into new moving segments, broaden our suite of marketplace and SaaS products, and invest substantially in talent to support our continued growth.
VCP’s investment follows a period of significant success for us over the last 12 months, as we launched multiple new products for consumers and real estate partners, deployed new iOS and Android apps, grew the team by over 100 employees, and increased revenue by nearly 50%.
“Updater provides a best-in-class platform that is redefining the relocation experience, providing a win-win model for both consumers and businesses,” said David Flannery, President of Vista Credit Partners. “VCP looks to partner with founders of companies that have a strong market position and a mission-critical product suite, both of which we found in Updater, by providing non-dilutive capital solutions. We look forward to partnering with David and the entire Updater team as they continue to innovate and transform the market.”
If our mission energizes you, we’re hiring across nearly every team – view our open roles and say hello.
Finally, to everyone who has been a part of Updater’s journey to date, I’d like to thank you for your trust and support. The best is yet to come.