Sumeru Equity Partners has sold Boston-based Buildium, a provider of real estate property management software, to RealPage Inc. No financial terms were disclosed.
San Mateo, CA—December 18, 2019 —Sumeru Equity Partners (SEP), a growth-focused technology investment firm, today announced the completion of the sale of Buildium to RealPage Inc. (Nasdaq: RP), consistent with the terms of the agreement reached by the parties in November. SEP was majority owner and lead investor in Buildium.
The sale of Buildium, a leading SaaS real estate property management solution provider, marks the fifth sale this year of an enterprise software company from Sumeru’s portfolio, including two in December. Other deals include MDSL, Kyriba, ForeFlight, and Blackline Systems.
Buildium is a leading property management solution that also helps real estate portfolio managers easily find new business from property owners and community associations seeking services. Founded in 2004, Buildium services over 17,000 customers in more than 50 countries, totaling approximately 2 million residential units under management. For more information, visit Buildium.com.
About Sumeru Equity Partners
Sumeru Equity Partners is a technology-focused private equity firm that invests in middle market companies across software, technology-enabled services and hardware. The firm employs a growth-oriented partnership model with technology companies and typically invests $25-200 million per transaction. The firm was founded in 2014 by an experienced team from Silver Lake Sumeru, a private equity fund started in 2007 within Silver Lake. Sumeru Equity Partners utilizes extensive operating and investment experience in partnership with management teams to drive company growth and build strategic value. For more information please visit www.sumeruequity.com.