Global leading provider of residential community and student housing software solutions – StarRez – announces today (12 January 2022) that it is has received a significant strategic growth investment from Vista Equity Partners – a leading global investment firm focused exclusively on enterprise software, data and technology-enabled businesses.
Terms of the deal will not be disclosed and the transaction is expected to close in Q1 2022. Houlihan Lokey acted as an exclusive financial advisor to StarRez in connection with the transaction. Kirkland & Ellis LLP and Allens served as legal counsel for Vista, and Arnold Bloch Leibler served as legal counsel to StarRez.
“StarRez’s commitment to connection, security and automation within communities will help drive their efforts forward as they look to further expand into new offerings and new markets. We are excited to partner with the StarRez team on this new chapter of growth.”Jake Hodgman, Managing Director, Vista
This deal will see StarRez and Vista collaborating to accelerate StarRez’s global expansion – and to foster operational excellence to support sustainable growth, enhance the customer experience, and improve student and resident life globally.
StarRez’s platform provides organisations with a scalable, secure solution to manage accommodations and engage residents. Founded in Australia in 1992, the company has since expanded into the North American and European markets – and today has over 800 customers in over 20 countries worldwide.
“It’s been an amazing 30-year journey as a privately held family business. When my father founded StarRez nearly 30 years ago, his vision was simple: solving problems and empowering residential communities with technology.
“As we enter this new phase of growth, we are proud to partner with Vista, who believes in our vision and has the experience, resources, and expertise to help us continue to grow as the leader for thriving residential communities.”Travis Knipe, CEO, StarRez
StarRez’s industry-leading, proprietary platform and solutions cater to higher education, student property management, purpose-built student accommodation (PBSA), Build to Rent, co-living, staff housing, boarding schools and conferences and events. The company is well-positioned within the growing student accommodation market, offering an intuitive cloud solution with a wide-range of housing-specific functionality to customers.
“As technology continues to transform student life and higher education and properties seek to create more engaging digital experiences for their communities, we see exceptional growth potential in StarRez as an industry leader and innovator.
“We look forward to partnering with Travis and the StarRez team to accelerate growth and continue improving the lives of students and residents around the world.”