PURE Property Administration Raises $50 Million to Speed up Development of its Property Administration Companies and Expertise


LOS GATOS, Calif., Feb. 2, 2022 /PRNewswire/ — PURE Property Administration, the quickest rising residential property administration and expertise firm within the U.S., introduced at this time that it closed a $50 million financing with Degree Fairness. The funding, which values the enterprise at over $300 million, will speed up acquisitions of main unbiased property administration firms nationally and enhance improvement of tech-enabled investor and resident experiences.

“PURE’s unimaginable monetary momentum, expertise, and distinctive administration staff make this funding compelling” stated Ben Levin, Degree co-founder and CEO. “We proceed to see deep area experience and technical functionality because the keys to market management throughout many actual property sub-verticals. As the primary institutional investor in Vacasa (NASDAQ: VCSA), a tech-enabled trip rental property administration firm, and Leonardo247, an on-site efficiency and operations administration software program for the multi-family market, we all know firsthand {that a} ‘from the trade for the trade’ people-first technique with a robust expertise basis works. We’re excited to contribute our capital, experience, and expertise in direction of one other monumental and fragmented actual property submarket with vital demand for environment friendly, progressive buyer experiences.”

With a imaginative and prescient to make the method of renting a house a easy and satisfying expertise, PURE launched in October 2020 with seed capital from family and friends, quickly consolidating independently owned property administration firms operated by seasoned trade leaders and supporting them with proprietary property administration expertise and processes designed by trade specialists.

“We’re shortly constructing the biggest third-party residential property administration firm within the U.S.,” stated Michael Catalano, PURE’s co-founder and common companion, a 25-year veteran in working, buying, and rising property administration firms. “We have accomplished 28 acquisitions so far, far forward of our preliminary expectations. The trade is extremely fragmented and curiosity in becoming a member of our ‘band-together-build-together’ mission is growing. We’re excited to have Degree Fairness as a companion who shares our imaginative and prescient and mission.”

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Acquired property administration firms and their workers proceed to function inside their native communities whereas having fun with a tradition of collaboration and contribution with a bigger staff, enhanced advantages, and new profession alternatives. PURE focuses on deploying scalable expertise that optimizes enterprise processes and workflow automations that allows acquired operators to develop of their market whereas providing enhanced companies and extra worth for his or her owner-investor purchasers and residents.

“We goal to supply one of the best outcomes and experiences for our purchasers, residents and associates. Our expertise staff is ready to faucet over 1,000 years of mixed property administration expertise inside the firm to establish and remedy actual, day-to-day issues and fill within the gaps with significant user-experience pushed expertise options,” stated Joe Polverari, PURE’s co-founder and common companion, a seasoned Silicon Valley entrepreneur and fintech pioneer who led company improvement and technique at Yodlee via its IPO in 2014 and subsequent acquisition by Envestnet.

PURE was suggested within the financing by New York primarily based funding financial institution Sparring Companions Capital.

About PURE Property Administration
PURE Property Administration is the quickest rising worthwhile residential property administration and expertise firm within the U.S. Led by a staff of skilled trade professionals and seasoned expertise innovators, PURE acquires single-family residential property administration firms and invests of their individuals and processes. By deploying expertise and offering operational efficiencies, PURE enhances resident and investor experiences. For extra info, go to https://purepm.co 

About Degree Fairness
Degree Fairness is a non-public funding agency centered on offering capital to quickly rising software program and technology-enabled companies. Degree gives long-term capital throughout all transaction sorts in assist of continued development. The agency has raised $3.0 billion in dedicated capital and has revamped 85 investments since its inception. For extra info, go to https://www.levelequity.com/

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SOURCE PURE Property Administration