San Francisco, CA – January 18, 2022 – Pier 88 Ventures was among the venture investors that participated in the recent $52mm Series B financing for HappyCo.
HappyCo, the number one residential operations platform for realtime rental property condition data collection and utilization, raised the funds to expand its platform and add new services. Led by Camber Creek, the fundraise included venture capital investors and HappyCo customers. Investors included 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 – notably one out of every eight professionally managed units in the US – HappyCo is the leading source of condition assessments and workflow tools. HappyCo provides vital 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 trusted multi-faceted solution for property management, due diligence and underwriting globally. “HappyCo delivers on its promise–and its name–by providing powerful but easy-to-use products to help our partners perform routine onsite tasks, including maintenance requests and property condition assessments. We then make these data accessible across the industry to drive important decisions about underwriting, investment strategies and management,” said CEO Lee. “We’re excited to continue developing new products and innovative solutions for our customers to solve the challenges they face as they grow their organizations. Our team is passionate about creating exceptional solutions that make our customers happy, and we’re committed to forging long-lasting partnerships to provide the information they need to make key investment and property-level decisions.”