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

LOS GATOS, Calif., Feb. 2, 2022 /PRNewswire/ — PURE Property Administration, the quickest rising residential property administration and know-how 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 impartial property administration firms nationally and enhance improvement of tech-enabled investor and resident experiences.

“PURE’s unbelievable monetary momentum, know-how, and distinctive administration workforce make this funding compelling” mentioned 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 business for the business’ people-first technique with a powerful know-how basis works. We’re excited to contribute our capital, experience, and expertise in direction of one other huge and fragmented actual property submarket with important demand for environment friendly, modern 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 business leaders and supporting them with proprietary property administration know-how and processes designed by business consultants.

“We’re shortly constructing the biggest third-party residential property administration firm within the U.S.,” mentioned Michael Catalano, PURE’s co-founder and basic accomplice, a 25-year veteran in working, buying, and rising property administration firms. “We have accomplished 28 acquisitions to this point, far forward of our preliminary expectations. The business 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 accomplice 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 workforce, enhanced advantages, and new profession alternatives. PURE focuses on deploying scalable know-how that optimizes enterprise processes and workflow automations that permits acquired operators to develop of their market whereas providing enhanced companies and extra worth for his or her owner-investor purchasers and residents.

“We purpose to supply the perfect outcomes and experiences for our purchasers, residents and associates. Our know-how workforce is ready to faucet over 1,000 years of mixed property administration expertise inside the firm to determine and clear up actual, day-to-day issues and fill within the gaps with significant user-experience pushed know-how options,” mentioned Joe Polverari, PURE’s co-founder and basic accomplice, a seasoned Silicon Valley entrepreneur and fintech pioneer who led company improvement and technique at Yodlee by means of 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 know-how firm within the U.S. Led by a workforce of skilled business professionals and seasoned know-how innovators, PURE acquires single-family residential property administration firms and invests of their folks and processes. By deploying know-how and offering operational efficiencies, PURE enhances resident and investor experiences. For extra data, 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 help of continued development. The agency has raised $3.0 billion in dedicated capital and has revamped 85 investments since its inception. For extra data, go to https://www.levelequity.com/

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SOURCE PURE Property Administration

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