Adelaide real estate software company HappyCo has raised US$52 million (A$72m) in a Series B and it looks to ramp up its US expansion.
The raise was led by US venture capital firm Camber Creek. The cash will be used to develop new services and hire more Australian staff as co-founders Jindou Lee and Andrew Mackenzie-Ross look towards to emerging build-to-rent market locally alongside global acquisition ambitions.
Founded in 2011, HappyCo helps property and asset managers, lenders and investors make better management decisions. The software suite includes condition assessment and workflow tools with in-unit data on over 3.5 million US rental homes. HappyCo’s data was relied upon to transact approximately 26% of all US sale transactions of multifamily units in 2021.