HappyCo, a residential operations platform for real-time rental property condition data collection and utilization, closed $52 million in funding to expand its platform and add new services. Led by Camber Creek, the fundraise included venture capital investors and HappyCo customers. Investors include The BAM Companies, Berger Rental Communities, Bonaventure, CA Ventures, Continental Realty Corporation, Embrey Partners, Klein Enterprises, Koman Group, Mark-Taylor, Masco Ventures, Pier 88, Standard Communities, Strata Equity Group, Vesta Ventures and Wermers Companies.
With in-unit data on over 3.5 million multifamily and single-family rental homes — one out of every eight professionally managed units in the United States — HappyCo is a source of condition assessments and workflow tools. HappyCo provides underwriting information to lenders, investors and asset managers, and empowers property managers with real-time operational tools and reporting. In 2021, HappyCo data were relied upon to transact approximately 26% of all US sale transactions of multifamily units.
Current HappyCo customers include Freddie Mac; lenders such as Walker & Dunlop, Berkadia, and Greystone; real estate investors, including CA Ventures and Maxus Properties and property managers such as Cushman & Wakefield and AMC.
Founded in Australia in 2011 by Jindou Lee and Andrew Mackenzie-Ross, HappyCo was designed to automate, simplify and protect data collected during residential rental property inspections and has grown to become a multi-faceted solution for property management, due diligence and underwriting globally.
