NEW YORK, NY, Updater, the leading technology platform powering the relocation industry, today announced that it has closed approximately $60 million of funding.
Investors in this new convertible note round include multiple long-time backers of Updater, including Second Century Ventures, the strategic investment arm of the National Association of REALTORS¬®.
Updater has closed approximately $60 million, with an option to raise approximately $15 million in additional capital, for a potential total $75 million convertible note series. The holders of the convertible notes have the right to convert to equity upon a public listing at a future date. Including the financing round announced today, Updater has raised over $250 million.
Updater is the recognized industry leader for relocation and address-change technology. Offering a platform where Americans can update any of over 10,000 accounts and subscriptions efficiently and simultaneously, file their official USPS mail forwarding form, transfer and connect utilities, and much more, Updater brings a seamless process to the previously frustrating notion of changing your address across multiple service providers and businesses. Updater also provides real estate brokerages and sales agents, mortgage professionals, moving companies, and property managers with branded technology to share with their clients.
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