BuildingLink, a property management and resident engagement proptech serving luxury properties, today announced receiving a strategic growth investment from private equity firm Bregal Sagemount, according to a press release.
The company did not disclose financial terms of the transaction, but says the investment capital will enable continued product and feature development, strategic &A opportunities, and accelerate new customer growth “in their core and adjacent markets.”
“We are thrilled to be partnering with Sagemount as we enter our next stage of growth. With their support and deep industry expertise, we will be well-positioned to further invest in our current offerings and to continue to grow both domestically and internationally. We have a long history of delighting property managers, and this investment will enable us to take that to the next level,” stated Zachary Kestenbaum, BuildingLink CEO, in the release.
Founded in 1999 and based in New York City, BuildingLink provides luxury residential-focused property management tools through its SaaS platform. The company is used in over 6,000 properties in over 25 countries, and claims to have introduced many industry firsts, including online maintenance requests, package tracking, amenity reservations and resident apps.
Bregal Sagement is a private capital firm with more than $5.5 billion in capital raised, which has invested in over 60 companies to date. It says through the investment, it will partner with BuildingLink to “take the business to the next level through organic and inorganic growth.”
“We are very excited to partner with Zach and the world-class management team he has built,” said Gene Yoon, Managing Partner and Founder of Sagemount. “BuildingLink has developed a reputation as the gold-standard in the property management industry and we believe they are well positioned to capitalize on the increasing demand for improved operational efficiencies and residential experiences in the luxury multi-unit housing market.”
In other recent proptech news, Yardi unveiled new coworking and flex space services through a new commercial ecosystem integration and site launch. Proptech venture capital funding also hit a record $13.1 billion in the first half of 2022, according to a report by CRETI.