Address change platform Updater scores $8 mln

Updater has closed $8 million in Series A funding. The investors were SoftBank Capital, Second Century Ventures, IA Ventures and Commerce Ventures. Also, the firm has named Ryan Hubbard as chief technology officer. Based in New York City, Updater is a relocation and address-change platform.

PRESS RELEASE

NEW YORK, NY – April 8, 2014 – New York City-based technology company Updater, the leading relocation web application for Americans who are moving, announced that it has completed a Series A venture financing round totaling $8 million. Updater also announced that Ryan Hubbard, a tech innovator with over 15 years of industry experience, has joined the Updater team as Chief Technology Officer.
The Series A round includes investments from SoftBank Capital, Second Century Ventures (the strategic investment arm of the National Association of REALTORS®), IA Ventures and Commerce Ventures, bringing the total amount of venture financing raised by Updater to approximately $10 million.
“Updater is already delivering an amazing service that simplifies an incredibly stressful and inefficient process,” said Roger Ehrenberg, Founder and Managing Partner of IA Ventures. “David Greenberg and the Updater team are building a vital product and mobilizing the relocation industry around the company’s technology.”
Constance Freedman, Vice President of Strategic Investments at the National Association of REALTORS® (NAR) and Managing Director of Second Century Ventures, added, “Updater made an immediate positive impact as a charter member of the NAR REach™ technology accelerator program, where real estate agents and brokers first used the product to provide added value to their clients. Much like our previous investments in companies such as DocuSign, Updater solves a real problem and will be hugely valuable to the real estate industry.”
Updater also welcomes Ryan Hubbard as Chief Technology Officer. Hubbard brings over 15 years of technology leadership to the role. David Greenberg, Founder and CEO added, “Ryan brings a remarkable track record of technology-driven innovation, and his experience will help us deliver a cutting-edge product.”
Hubbard joins Updater from New York City-based YellowHammer, an ad-tech industry leader. As CTO and Partner, Hubbard led the development of their smart ad technology, enabling YellowHammer to deliver hundreds of millions of personalized ads per day. This innovation gave the company an industry-leading reputation, for which they were recognized as one of the top 50 companies on the 2013 Inc. 5000 List of America’s Fastest Growing Companies, and won a Gold American Business Award for Best Management Team. Prior to YellowHammer, Hubbard served as Co-Founder and CTO at eVariant, a cloud-based healthcare marketing solution that was recognized as a finalist in the 2010 Salesforce Appquest.
“I’m a perpetual mover and I’ve always needed a site like Updater, so I’m excited to join this team at such a pivotal time for the company,” said Hubbard. “This role allows me to help relieve real headaches we all face with a fresh and innovative approach.”
ABOUT UPDATER
Updater is the recognized industry leader for relocation and address-change technology. Offering a platform where Americans can update any of over 10,000 accounts and subscriptions efficiently and simultaneously, file their official USPS mail forwarding form, transfer and connect utilities, and much more, Updater brings a seamless process to the previously frustrating notion of changing your address across multiple service providers and businesses. Updater also provides real estate brokerages and sales agents, mortgage professionals, moving companies, and property managers with branded technology to share with their clients. To learn more about Updater, visit Updater.com.

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