Insight Venture Partners has made an undisclosed investment in Knoxville, Tennessee-based Property Brands, a provider of property management technology solutions. As a result of the transaction, Property Brand’s previous backer Providence Strategic Growth will retain a minority investment partnership. Harris Williams & Co. advised Property Brands on the transaction while Golub Capital provided the financing.
KNOXVILLE, Tenn., Feb. 8, 2018 /PRNewswire/ — Property Brands, a leading provider of property management technology solutions announced today an investment from Insight Venture Partners, a New York-based venture capital and private equity firm. Providence Strategic Growth, Property Brands’ previous lead investor, will retain a minority investment partnership going forward.
Headquartered in Knoxville, Tennessee, Property Brands provides software for property management, rent payment processing, background screening, and renters insurance. Property Brands is helmed by an executive team of proven entrepreneurs who have successfully built market leading SaaS companies.
“We couldn’t be more excited about this next phase of growth and innovation for our business,” said Lisa Stinnett, Chief Executive Officer of Property Brands. “This partnership will allow us to accelerate our mission to provide best-in-class solutions to our customers. We help property management companies solve challenges, become more efficient, reduce operating cost, and improve resident experience.”
“Property Brands has positioned itself as a leader in customer experience for the property management industry,” said Deven Parekh, Managing Director at Insight Venture Partners. “Insight is looking forward to partnering with the team as they scale their business to meet the emerging needs of the real estate industry.”
Harris Williams & Co. advised Property Brands and Golub Capital provided financing for the transaction.
About Property Brands
Property Brands is one the fastest growing product and service providers in the property management industry. The company provides end-to-end solutions for property management companies in the multifamily, single family residential, student housing, affordable housing, and commercial markets, serving more than 5 million units and customers. The corporate office is headquartered in Knoxville, Tennessee, but Property Brands has satellite offices across the United States. Property Brands is a suite of best-in-class SaaS solutions that includes accounting, CRM, rent payment processing, background screening, and renters insurance software products.
About Insight Venture Partners
Insight Venture Partners is a leading global venture capital and private equity firm investing in high-growth technology and software companies that are driving transformative change in their industries. Founded in 1995, Insight has raised more than $18 billion and invested in over 300 companies worldwide. Our mission is to find, fund and work successfully with visionary executives, providing them with practical, hands-on growth expertise to foster long-term success. Across our people and our portfolio, we encourage a culture around a core belief: growth equals opportunity. For more information on Insight and all its investments, visit www.insightpartners.com or follow us on Twitter @insightpartners.
About Providence Strategic Growth
Providence Strategic Growth Capital Partners L.L.C. (“PSG”) is an affiliate of Providence Equity Partners L.L.C (“Providence”). Established in 2014, PSG focuses on growth equity investments in lower middle market software and technology-enabled service companies, primarily in North America. Providence is a premier, global asset management firm with $50 billion in capital under management across complementary private equity and credit businesses. For more information on PSG, visit provequity.com/private-equity/psg and for more information on Providence Equity, please visit provequity.com.