Mill Point-backed Avenu acquires technology business Harmari

• Harmari was founded in 2011
• Mill Point Capital invests in lower-middle market companies across the business services, technology and industrials sectors in North America
• Paul Colangelo serves as CEO of Avenu

Avenu Insights & Analytics, a portfolio company of Mill Point Capital, has acquired Toronto-based LTAS Technologies (Harmari), a provider of short-term rental identification, monitoring and compliance software and services. No financial terms were disclosed.

Avenu is a provider of revenue enhancement and administration solutions for state and local governments.

“Keeping pace with the growth of short-term rentals, rapid changes in technology, and increased citizen expectations are challenges that many state and local governments are facing,” shared Avenu CEO Paul Colangelo, in a statement. “We are combining the industry’s leading technologies to create a better experience for citizen’s while providing a full-service compliance solution that gives governments a way to properly monitor and collect all short-term rental revenue.”

Harmari was founded in 2011.

Mill Point Capital invests in lower-middle market companies across the business services, technology and industrials sectors in North America. Mill Point is headquartered in New York City.