HappyCo has successfully closed the third and final tranche of its Series A funding round. The funding was led by Alium Capital Management, a pre-IPO specialist company based in Sydney. Other investors include Tempus Partners and PieLab Venture Partners, both of which are based in Australia, as well as existing investors such as Larsen Ventures and Sandalphon Capital. HappyCo is known for its real-time operations platform, which is used to inspect, manage and monitor residential properties and commercial facilities. The platform is already managing more than 1.2 million units for companies such as Airbnb, Softbank/Fortress, and Vicinity Centres. HappyCo was founded in Adelaide in 2011 and has been headquartered in San Francisco since 2012. The entire Series A funding round is worth USD $10.8MM.
According to Alium Partner Rajeev Gupta, “HappyCo is a modern Australian success story, and we see a very bright future ahead because of its industry-leading technology and proven track record of execution. We focus our investments in Australia-based companies that will build highly-scalable and globally-dominant businesses, and HappyCo has that perfect recipe.”
HappyCo plans to use the funds from its Series A round to invest in research and development operations in both Australia and the United States. Additionally, the company will expand its support team to accommodate its growing customer base in the Asia-Pacific region. The successful funding round demonstrates HappyCo’s increasing market share as a technology provider to Australia’s real estate and financial sectors. PieLab’s Managing Director, Chris Rolls, expressed delight in being part of the high-growth business that is playing a critical role in the technology ecosystem of the global real estate management market. HappyCo’s platform is widely used by companies that manage billions of dollars of property worldwide.
According to Alister Coleman, Managing Partner of Tempus Partners, HappyCo is a key player in disrupting the corporate-managed real estate industry, which is worth over 7 trillion dollars. Coleman commended Jindou and the HappyCo team for building a world-class platform that transforms property and site inspections, and for retaining their engineering talent and roots in Adelaide while achieving international success and a global customer base.
