HappyCo, the leading real-time operations platform for collecting and utilizing rental property condition data, has raised $52 million in a funding round led by Camber Creek. The round included investment from both venture capital investors and HappyCo customers, such as The BAM Companies, Berger Rental Communities, Bonaventure, CA Ventures, Continental Realty Corporation, Embrey Partners, Klein Enterprises, Koman Group, Mark-Taylor, Masco Ventures, Pier 88, Standard Communities, Strata Equity Group, Vesta Ventures, and Wermers Companies.
HappyCo has in-unit data on over 3.5 million multifamily and single-family rental homes, which represents one out of every eight professionally managed units in the US, making it the leading source of condition assessments and workflow tools. HappyCo provides critical information to underwriters, investors, and asset managers and empowers property managers with real-time operational tools and reporting. In 2021, HappyCo’s data were utilized in approximately 26% of all US sale transactions of multifamily units.
HappyCo’s current customer base includes lenders such as Walker & Dunlop, Berkadia, and Greystone; real estate investors including CA Ventures and Maxus Properties; and property managers such as Cushman & Wakefield and AMC.
HappyCo, a residential operations platform founded in Australia in 2011 by Jindou Lee and Andrew Mackenzie-Ross, has raised $52M in funding led by Camber Creek to expand its platform and add new services. HappyCo offers a range of solutions for property management, due diligence and underwriting, providing real-time operational tools and reporting to empower property managers. The platform offers assessment data and photographs for millions of residential units, which are easily available to lenders, investors, and property managers. The fundraise included venture capital investors and HappyCo customers such as Berger Rental Communities, Bonaventure, Klein Enterprises, Mark-Taylor, Masco Ventures, and Vesta Ventures. HappyCo’s data were relied upon to transact approximately 26% of all US sale transactions of multifamily units in 2021.
HappyCo, founded in 2011 by Jindou Lee and Andrew Mackenzie-Ross in Australia, has evolved to become a trusted multi-faceted solution for property management, due diligence and underwriting globally. Its platform automates, simplifies, and protects data collected during residential rental property inspections. HappyCo’s assessment data, including property- and unit-level photographs, are required for every property loan, and are valuable in underwriting investments. These data are gathered by inspectors and underwriters utilizing HappyCo’s technology and stored on its platform. The images and data for millions of residential units are easily available to lenders, investors, and property managers.
HappyCo provides lenders with the richest view of property and unit conditions with tools to streamline onsite and virtual inspections. Importantly, the platform seamlessly integrates with the Freddie Mac Multifamily platform, and HappyCo works with all Freddie Mac Optigo® lenders across the US. HappyCo’s platform also offers access to best-in-class intelligence to increase occupancy, improve oversight, increase margins, and maximize revenue for each property.
Real estate investment management company,CA Ventures, with assets in more than 100 markets, is a longtime HappyCo client. HappyCo enables CA to perform quarterly inspections of the assets in their buildings. By leveraging the data aggregated during that process, CA has saved hundreds of hours of work for its teams during disposition and capital improvement planning. HappyCo also serves property managers, offering a complete suite of apps to simplify processes, drive better performance and generate comprehensive views of assets within a portfolio. The tools and services are designed to help managers create “sticky” communities with high occupancy rates and frictionless operations.
According to HappyCo’s founder, Lee, he finds it fulfilling to see their vision for the company come to fruition, the loyalty and satisfaction of their customers, and the value they bring to the industry. He also expressed excitement for the future growth of HappyCo and their plans to develop new tools to better serve their customers. The recent Series B funding will aid them in their mission to improve the quality of living for their clients.
About HappyCo
Founded in 2011, HappyCo is a company that specializes in real estate software development. They offer mobile and cloud solutions that provide real-time operations data for property managers, asset managers, lenders, and investors. Their suite of software tools includes leading condition assessment and workflow tools, and they have in-unit data on more than 3.5 million rental homes. With offices in San Francisco, California, and Adelaide, Australia, HappyCo is privately held.
About Camber Creek
Camber Creek is a venture capital firm that specializes in investing in and scaling companies that are revolutionizing the real estate industry. The firm was established in 2011 and has since earned a reputation as a leading real estate technology venture firm. It has consistently delivered outstanding returns to its investors and has facilitated successful company exits, driving value for its portfolio of start-ups. With over $500 million in assets under management, Camber Creek has offices located in New York, San Francisco, and Washington, D.C.
